Blockchain - based nanopayments firm SatoshiPay has revealed it will collaborate with the IOTA Foundation to develop a platform that will replace bitcoin for the company 's settlement process . Congestion caused by scalability issues , coupled with bitcoin 's rising popularity , prompted investors to look elsewhere for a more suitable distributed ledger technology . IOTA , which offers unlimited zero - fee transactions , will collaborate with SatoshiPay on a proof - of - concept platform to be unveiled in August .
Blockchain-based nanopayments firm SatoshiPay has revealed it will work with the IOTA Foundation to develop a platform that will replace bitcoin for the company's settlement network. Congestion caused by scalability issues, coupled with bitcoin's rising popularity, prompted SatoshiPay to look elsewhere for a more suitable distributed ledger technology. IOTA, which offers unlimited zero-fee transactions, will work with SatoshiPay on a proof-of-concept set to be unveiled in August.