What started out as a nice little community project in the middle of Germany has grown to one of the biggest privately funded ventures in the IOTA cosmos. CarrIOTA is much more than just an IOTA wallet.
IOTA finance manager – a private, trustless bank without fees or middlemen. Your app. Your hardware. Your business.
This is how CarrIOTA is introduced on the author’s website. Let’s dive into it.
CarrIOTA is actually a wallet which lets you store and transfer IOTA. However, you can have several entities, such as family, friends or business with different access rights to your wallets!
For example, you could log in to your wallet and get access to several wallets. One for saving, one for your car, and one for your every-day-things. Or you might have your own company and need to split accounts for marketing, salaries and R&D.
Moreover, the user can decide which access rights they want to grant to each person on the account. Your son would get access to his pocket money, but not to his Christmas saving account.
On top of that, features such as direct debits and standing orders are supported. Normally this is done via online banking, but with CarrIOTA, you can do it yourself without any 3rd parties involved!
As the devs have summarized in their vision:
You cannot manage the supermarkets “fleet” with the same software you use for the taxi company. But you can create a basis and the required infrastructure that can be easily extended depending on your use case. Maybe even managing dozens or hundreds of different types of devices — all from the same interface. Something similar to the SAP enterprise resource planning software.
And this is what we are planning to achieve in the future steps, using CarrIOTA as a basis for innovation. […] A generic operating system for connected “things”.
CarrIOTA is a big undertaking and has various milestones besides the main wallet which have emerged along the way. The developers have vowed to take tiny steps towards the final goal while test-driving the technology and helping the IOTA ecosystem as a whole.
This replaces the need for manual neighbour management when setting up a full node for IOTA. By starting Nelson, everything is configured automatically which makes setting up a full node easy, fast and helps grow the network and theoretically improve IOTA’s performance.
Bolero is an application which lets you launch an IOTA full node with one single click so users may strengthen IOTA’s decentralized network without having to read into the complicated mechanism of node set up.
As a separate tool that’s integrated into Bolero, basically this is a tool that helps to optimize full node performance. The intention is to reduce the confirmation times for transactions while also fortifying the node against DDoS attacks. Also, incentives are given to node operators by way of donations from the community.
An overview of all the Field notes can be seen here. At the time of writing, more than 1,400 Field nodes are online having already transferred a quarter of billion USD of IOTA. This is amazing!
Romeo is an “ultra-light-ledger”. Some might call it a “wallet”, but it really goes beyond that definition:
- Login via username and password: easy to use
- Ledger pages: too many transactions/addresses makes syncing slow. Romeo lets you create a new ledger page. Syncing is lightning fast thanks to being stateful.
- Lightweight since bundles are not loaded and it’s just a single HTML-file!
- Static addresses: users can add your address to an address book and automatically receive the latest address when sending funds to you.
- Direct debits and standing orders
Hercules is IRI on steroids, but leaner, faster and smarter.
IOTA’s official IRI is memory-intensive and can drive single-board-computers to their limits. So Hercules was developed as a lightweight solution in order to replace IRI on tiny computers. This can allow final CarrIOTA manager be run on a small, affordable and wireless computer.
It was written in Go and reduces the memory demand from 4GB to 200MB. Fast databases store the Tangle securely and allow the user can decide how long transactions remain on the device. Nelson is already integrated.
The project is progressing well with an Alpha release imminent:
— Roman Semko [DevIOTA] (@RomanSemko) June 7, 2018
Who is Behind the Project
SemkoDev team is located in Leipzig, Germany, and has been developing web and mobile software solutions since 2010. They have realized numerous demanding projects for well-known companies (TomTom telematics, Limbach Group…) and are fluent in English, German, Spanish, Russian and Ukranian.
Readers are encouraged to learn more about the CarrIOTA project, and to consider spinning up their own full node to support the IOTA network.