Huge news for IOTA from the moscow meetup
Summary, IOTA moscow Meetup
"Hey! Just came back from IOTA Moscow meetup! Some of the news from the talk/presentation of Cfb and Max Minchenkov:
IOTA will move from PoW to Network-bound PoW in the future. It's an unique thing and details are not available.
smart contracts are in development. ETA is this year. It will be done not like eth smart contracts, but done in functional programming paradigm/style.
Max Minchenkov said that IOTA are doing a solution together with CISCO for an undisclosed oil company, where IOTA will provide software and CISCO hardware. No ETAs or any other info.
Ternary hardware is still in development. It will be ternary CPU and Li-Fi. No ETAs or any other info.
Cfb is more on hardware part now, other team members do work on IRI.
I can verify that people do build their own stuff on IOTA, personally saw a few teams today that build something on IOTA. And real word development on IOTA do happens outside of "crypto community". So the fact that it's quite in bitcointalk or even media means nothing. Work do progressing behind the doors.
I talked personally with Cfb. He is a very polite and intellegent person. Was too shy to say hello to Max Minchenkov."
Took the liberty to post this, copy from Ilya, on iota slack.
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This is good news! I think it had always been a lingering question about the ability of devices to be able to have the energy requirements to perform the POW.
Smart contract programming will be fantastic for automating the transfer.
Exciting news! please keep us informed!
If transactions on IOTA Tangle are free how will they make money?? Additionally, if there are 2 QUADRILLION tokens (and there are, that's why they trade as MIOTA "millions") how much can a token be worth? Further, what utility does their coin have if not to pay for transactions on their FREE Tangle Network???? These are valid questions I cannot seem to find answers to??