IOTA

By admin  BITCOIN December 21, 2017
Why the IOTA Piece will be bigger than the Ethereum in just one year
Iota is a cryptocurrency that aims to establish itself as the fuel for efficient machine-to-machine (M2M) transactions. It uses directed acyclic graphs (DAGs) instead of a regular blockchain, allowing various features such as zero-cost transactions, infinite scalability, or offline transactions.
In what follows, I will provide a brief introduction to IOTA. After that, I will express my personal beliefs about the investment.

 

IOTA

 

The IOTA cryptocurrency essentially solves three major flaws in today’s cryptocurrency ecosystem: transaction costs, scalability, and offline transactions.

 

Transaction costs

 

Iota is the first cryptocurrency without blockchain. He uses the “Tangle”, based on DAG technology. In a traditional blockchain, various transactions are grouped in each block before this group of transactions is checked by the miners. In the Tangle, each transaction forms a new block and is essentially verified by itself: To carry out a transaction, you must first check two random transactions in the network. This is done using a very simple version of the proof of work, so it could be argued that the transactions are not at zero cost. Yet transaction costs are essentially non-existent because the required PdT is so low that each device is capable of doing it independently.

 

Scalability

 

As each new transaction checks two new transactions in the network, scalability increases with adoption. As a result, the network could become indefinitely scalable, as more and more people send transactions.

 

Offline transactions

 

By using sub-triangles that attach to the main entanglement later (when a node comes back online), offline transactions can be performed. This property offers great promise for applications in the supply chain or other industries because nodes should not be online throughout the process.
On March 31, an IOTA Development Roadmap was released. For more technical information, you can also consult the IOTA white paper or website.

 

IOTA TOKEN

 

All IOTA tokens are pre-cast and, since no extraction is required, no new parts are added to the system. In order to effectively activate micro-payments, 2779530283277761 IOTA have been created. This allows transactions with minimal amounts of value.
IOTA held an ICO in the fourth quarter of 2015 and was able to raise 1,191 BTCs (at that time a value of approximately $ 436,000). Currently, IOTA can only be traded on an OTC channel, but the underlying price continues to grow. At this moment, a Mi (1,000,000 Iota) is trading at 0.000024 BTC. This means that the current market capitalization of IOTA represents approximately 66,708 BTC. This would rank IOTA at place 14 on coinmarketcap (under Zcash and above Golem) as I write this post.

 

Team and foundation of IOTA

 

In Q1 2017, the Iota Foundation was established in Berlin, Germany. The main staff consists of Dominik Schiener, David Sønstebø, Sergei Ivancheglo (Come-from-beyond) and Sergei Popov. These people are very bright minds and talented programmers who have proven themselves. However, a major flaw of the IOTA team is that they do not have a marketing expert or community manager. Dominik Schiener and David Sønstebø interact with the community but, as talented programmers, they simply lack skills in social and business development. I think this hurts (s) the growth of the network. The technology is overall so superior that it still works but from my point of view, the growth of the IOTA network has underperformed in the past. By adding a community manager to the team, this flaw could be corrected almost instantly.
The IOTA Foundation constantly adds relevant actors as members. For an overview, take a look at the average ads.
The process of adding IOTA to an exchange has been a controversial topic in recent months. Expectations were high and team members continued to say that an exchange launch would be close, but overall nothing happened (apart from the introduction of a semi escrow account).I think IOTA will be added to the trade over the next couple of weeks, because the demand is going up and there will be trading going on.
From my point of view, the IOTA price will rise further in anticipation of an exchange launch and will make a big jump after the announcement of a stock exchange listing. Once negotiations are launched, prices are likely to strengthen, which could be another good entry point.
Example HTML page

Leave a comment