Nodle, a decentralized connectivity network and payments infrastructure for the Internet of Things (IoT), on February 11th of this week, processed 1 million transactions for the day.
The type of transactions happening on Nodle includes, “thing-to-thing” or automatic “machine-to-machine” micropayments. This automation is a key driver in the next era of the Internet of Things (IoT) to enable better efficiencies.
Micropayments are small and tiny payment transfers used to pay for services in real-time. This includes things such as: energy billing per kilowatt, fuel billing per gallon used, payments on a per data packet basis, payments for bandwidth usage and more.
Co-Founder of Nodle, Micha Benoliel said:
“Achieving this milestone on the Stellar blockchain luckily cost us only 10 XLM (Stellar’s currency; 0.72 USD at the market rate) to record these one million micropayments on the ledger. What’s also significant is that, at Ripple’s (XRP) peak, their micropayments reached 4.1 million in a day; and now they average 1 million per day — the same as Nodle Cash.”