TL;DR 5 Sentence Summary - SatoshiPay phases out Bitcoin, partners with IOTA

IOTASatoshiPay, a blockchain-based nanopayments company that enables digital transactions on a micro-scale, today announced its partnership with the IOTA Foundation to explore replacing Bitcoin with IOTA as the company's settlement network.

SatoshiPay CEO Meinhard Benn said: "We love Bitcoin for its pioneering role in the creation of our industry, but some blockchain networks it inspired have evolved faster than Bitcoin itself, so we decided to move on to superior technology.

"The IOTA network, with its token listed as 8th largest cryptocurrency on coinmarketcap.com at a market cap of €460m, offers zero-fee transactions and does not limit the number of transactions per second, making it unique among cryptocurrencies and an ideal ledger technology for SatoshiPay's future needs.

The IOTA Foundation and SatoshiPay agreed to work on a proof-of-concept project supported by the IOTA Ecosystem Fund, combining SatoshiPay's frictionless content payment interface with IOTA's scalable ledger technology.

Users of the upcoming project website will be given free IOTA tokens to try out instant payments for digital content like videos, images or downloads. While corporates such as Innogy, Canonical, Bosch, Cisco and Microsoft are building IOTA prototypes focussed on the Internet of things, SatoshiPay is the IOTA Foundation's first partner to build a purely web-based application.

Source: Medium

IOTA feels like it's bringing a level of professionalism that's a level above many of the other chains. Whether it succeeds or not is a different question, but the way they're proceeding forward to become a standard in IOT development is definitely something to keep an eye on.