IOTA based project Deposy moves from concept to test phase

  • IOTA based Deposy project has moved from the concept to the test phase and will present a fully functional demo machine for their deposit system in the coming weeks.
  • The Deposy Team is currently holding talks with several domestic and foreign companies that are interested in using the deposit system.

The Deposy project is one of the promising IOTA based projects, which we at Crypto News Flash have already reported on several times. The developers of the project, BIOTA, have developed a deposit system that is intended to create an incentive to separate waste. An additional deposit is charged when a product is purchased that has a special QR code. The IOTA Tangle serves as a storage space for the product information.

According to a blog post published over the weekend, the BIOTA team has now taken another major step towards live operation with the transition from the concept phase to the test phase. Due to various software and hardware advances, the test phase is now being started, at the end of which a prototype will be available. A fully functional Deposy demo machine will be presented in the coming weeks.

As reported by CNF, Deposy achieved a breakthrough in the development of the new Deposy Non Transactiontime Algorithm (NTA) at the beginning of the year, which provides the necessary scalability of the project for use on an industrial scale. The algorithm allows product IDs to be generated independently of transaction times in order to keep pace with the speed of plastics manufacturers’ production processes.

Further important progress has now been made in recent weeks. Among other things, a more effective solution has been developed for the machine that validates the plastic part so that the next part can be processed more quickly. In addition, the software has been developed and successfully tested, according to the Deposy team:

Among other things, the Deposy manufacturer software was created in Python and successfully tested. This software enables the participating companies (plastic manufacturers) to describe their product in detail and in a structured way, thus creating a unique product ID.

The Deposy software will also be compatible with Chrysalis Upgrade from IOTA, which will further increase the speed of the Deposy system. In addition, test runs of selected hardware components also delivered very satisfactory results.

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With regard to first cooperation partners from the plastics industry and the interest in the solution, the BIOTA team states:

The officially registered association BIOTA e.V. is currently engaged in talks with several domestic and foreign companies and organisations that show interest in the potential applications of the deposit system. […] A number of companies are also enthusiastic about the possibilities of a Product ID. Cooperations are currently being prepared, on which the association will report in the coming weeks.

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Together with the announcement, the following video about a first test system was also published.

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About Author

Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he's been involved with the subject every day. Beyond cryptocurrencies, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. At CNF he is responsible for technical issues. His goal is to make the world aware of cryptocurrencies in a simple and understandable way.

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