IOTA Foundation announced August 3, the launch of its IOTA Hub. Expatiating on the reasons for introducing the Hub, IOTA Foundation’s head of engineering, Edward Greve, noted that IOTA is originally built on a special architecture that has made it quite challenging for service providers such as crypto exchanges to integrate IOTA.
Among the challenges these service providers encounter includes the absence of double signing because of database constraints, challenges with deposit address monitoring, confirmation of monitoring, among other prominent challenges.
The IOTA Hub will offer a standardized and open-source solution to all the challenges faced by service providers by using a simple gRPC API in an environment that is hardened and audited. With this Hub, the process of integrating IOTA will be easier for any service provider. For instance, by using the IOTA Hub, an exchange can be ready to support IOTA in a matter of weeks, instead of months, just by connecting Hub to its current platform.
Access to Database
In addition to regular seed and transaction management, the IOTA Hub also provides support for transactions that are externally signed. The typical remote signing provider makes it possible to have a separate machine that holds the salt but has no access to the database, but the Hub itself has access to the database but not to the salt.
Communication on the Hub is done through an encrypted gRPC channel. This leads to a stronger security as it makes it impossible for an attacker to have total control over the exchanges’ funds when it compromises just one system.
IOTA Foundation Announced the Launch of IOTA Hub was originally found on [blokt] – Blockchain, Bitcoin & Cryptocurrency News.