Nesten Inc., announced on Sunday its new partnership with IoTeX (iotex.io), a privacy-IoT blockchain platform, to collaborate on the development of trusted blockchains. The partnership aims to address the security and privacy of communications-focused Internet of Things (IoT) infrastructure and ecosystems.
With the launch of its initial wireless node deployment, Nesten is strengthening its development efforts in blockchain technology. In particular, security and privacy are at the core of Nesten’s blockchain development.
In its endeavor to build an enterprise-grade communications infrastructure and ecosystem, Nesten has formed a strategic partnership to leverage the IoTeX platform’s security, privacy, and trusted computing capabilities for the IoT. With its deep knowledge and experience in distributed systems and cryptography, IoTeX has developed a privacy-IoT blockchain platform, which complements Nesten’s technological and business goals.
The two companies’ respective strengths are effectively complementary. Nesten brings in communications and high performance computing expertise, while IoTeX leads in trusted IoT blockchain technology. The collaborative partnership paves the way for building advanced trusted blockchain technologies to support large-scale heterogeneous IoT networks.
Nesten, based in Los Angeles California, focuses on IoT optimized blockchains and communications networks with a unique ecosystem and infrastructure to drive community-based network deployments, while IoTeX develops privacy-centric and scalable blockchain platform for the Internet of Things (IoT). IoTeX combines blockchain, secure hardware, and edge computing innovations to enable heterogeneous computing, privacy and interoperability for large-scale IoT systems.
“With our initial wireless nodes in place, we are taking next steps to ensure that the system is resilient and protected against any malicious attempts as well as unintentional weak spots. We are excited to work together with IoTeX and its management team to achieve the common goal of building trusted IoT blockchain infrastructure, with the potential to be widely accepted in the industry.” says Andrew Baek, CTO of Nesten.
“Nesten has built a solid foundation for IoT networking infrastructure with its strong communications expertise. With IoTeX, Nesten can achieve their goals faster by leveraging innovative IoT, security, and privacy capabilities available natively on the IoTeX platform. The partnership lends itself to a great number of market opportunities for both Nesten and IoTeX in the fast expanding IoT industries.” says Raullen Chai, CEO of IoTeX.