Paying an annual or monthly bill requires a centralized accrual system, which often accrues billing fees. This is one potential example.
Accruals and billing are made for humans to manage finances in a timely way as we have certain limitations. In a machine to machine economy, the need for accrual and billing isn't necessary if debits and credits can be ...
2 Machines: Alice and Bob
Alice wants to give 5 IOTAs to Bob
Alice sends an address request to Bob:
Depending on the kind of machines this can be achieved in various ways
via http GET: Web APIs
via Tangle: for Machines that only know each other through the Tangle
Alice sends 0-value-transaction from a previous address of Bob with message "...
Paying an annual or monthly bill is only possible when:
seller and buyer trust each other with the high annual amounts (buyer pays in advance but doesn't get data or seller sends data in advance but doesn't get money)
buyer never or rarely ever changes the data provider
buyer doesn't need data just once
the buyer doesn't want to trust anyone with ...
This should be no Problem. Like pointed out in this answer, the devs will add smaller denominations and scale everyones IOTA accordingly to the new ones. So everyone will keep the same Value as before, but will have for example 10GIOTA instead of 10MIOTA
Yes, one reason is to accelerate transactions i.e. make almost instant transactions because no proof of work is required but they have a second advantage: offline transactions because one doesn't need to be connected to any full nodes to send Iotas via Flash Channels.
One use case for Flash Channels are for example EV charging stations because they allow ...
A nonvalue transaction (sensors would most likely just pass data and not iota) is only a single transaction (attaching an address to tangle is also a nonzero transaction). My PC (with an i7 8th Gen) manages around 1,5 Transactions per second. If you want to send value, it takes at least 3 transactions through (this is called a bundle).
Update 12.08.2018: ...
Client ask to the service provider for a valid address. Service provider decide according it's own internal policy the address where this particular client can send funds (it can be a new one).
The client send funds to that address.
An interesting use case is presented in this video. In few words: a car charging station where all data related to the ...
Another important point which isn't covered in the others answers:
You don't have to pay directly a high amount or later a high amount. As a company it gives you the freedom and ability to work with your money in realtime. You don't need complex models for how you should work with your money. How and when you pay who, how liquid you need to be. There are ...
The IOTA Data market place is currently just a demo. That said you are actually paying for a subscription to a data stream, not just per request. By paying you get the "frequency" or secret key for that data stream. Payment for data streams is an option but not required; It's a good way to monetize data without having to deal with payment fees. If you want ...