The Payota project suggests that IOTA Tangle can be used to record or charge the energy usage of individuals.
In simple terms, Payota means ‘Pay for what you use’, which you’ll come to understand as the article progresses. Finding more sustainable forms of energy is essential in today’s world.
But we also need to make better use of the energy we already have. The Payota project suggests using the IOTA Tangle to record or charge personal energy usage.
Through this technology, everyone will be able to control their energy needs effectively, from big businesses to homeowners.
The project uses the IOTA tangle to enable pay-as-you-go (PAYG) usage of electrical equipment.
How Payota works
It works by using Flask and Flask-SocketIO, which enables the creation of a user-monitored, continually updating web dashboard. Also, the webpage displays a QR code for the IOTA address, enabling users to ‘top up’.
To use the service, you are required to have a Raspberry Pi 3, RS232 Power Meter.
You can buy a Modbus-enabled energy meter on eBay to keep track of power usage. This will enable you to use Modbus instructions from the Raspberry Pi to measure metrics such as AC Voltage, Current, Power, and Energy.
To use, the first step is importing the required libraries. You’ll also notice a check-balance function, which enables you to determine the balance of the supplied address. By building a wallet with Trinity, you can find your address which may be the address of the utility provider or landlord.
In a separate thread, variables like current, power, and energy can be tracked. You must take note of the get current, get power, and get energy functions. They are used to send commands over Modbus.
The balance is checked every 10 cycles to see if the user has added to it. If there is a modification, the additional sum is added to the “device balance.”
Meaning of IOTA
IOTA is a cryptocurrency made specifically for the Internet of Things! It is incredibly promising as a technology for a wide range of applications just because of this.
Key features of IOTA
- Zero transaction fees
- Scalability
- Quantum Computing Protection
- Decentralization.
Conclusion
We live in times where we all personally contribute to the inefficient use of energy. More people will be motivated to get the most use possible without wasting power if power is charged on a user level.
The Payota technology, which enables top management to monitor the energy usage of specific people, divisions, and machines, can be developed and applied to various workspaces, organizations, factories, schools, and more.
