Hello, everyone. I have been investing/accumulating/trading cryptocurrency for the last 2 years. It has been a crazy market so far. But I want to share with you some of my fears and predictions.
I have always been looking for something new. I was happy to found Ethereum in its early stages and I made a great profit out of it as well as Bitcoin and many others. But for the last few months, I realized that we are in a BUBBLE. I know most of the people are very happy because the price is going up and there is nothing to worry about but by discovering recent ICO's and some of the crypto's I realized that people don't give a clue in what they are investing they just buying it all because one day it might go up. I don't say that all of the crypto's are trash but 90% of them will never recover when the bubble pump. So please invest as much as you are willing to lose.
I created this blog to share my views and today I want to share with you another golden egg that I found, and its name is IoT (Internet of Things). They have been developing it for the last two years and finally, they got there ICO funded and listed on the first exchange which is BitFinex.
Few reasons why I got immediately interested:
Technolgy
-IoTa is a completely different from any other type of cryptocurrency instead of using a Blockchain they implemented a Tangle technology in its code.
IOTA is able to achieve high transaction throughput by parallelizing validation. As the Tangle grows with more transactions, IOTA becomes faster and more secure with transaction finality happening more quickly as network critical mass is approached.
The way consensus is achieved in a blockchain is through a rigorous mechanism that requires multiple parties to “race” against each other in an attempt to add the next block and earn the block rewards. Since “miners” and “users” are decoupled entities, block rewards paid to miners will eventually mostly consist of users’ transaction fees. In the Tangle, “miners” and “users” are no longer decoupled entities.
In order for a transaction to be confirmed on a blockchain, a certain arbitrary time interval must elapse for block creation. The Tangle allows for asynchronous settlement, meaning that there are no extrinsic arbitrary temporal restraints on transaction finalization.
The Tangle is programmed in ternary which is a deviation from the traditional binary code. Ternary is much more efficient than binary and provides for some significant improvements in functionality. The Tangle can be run on binary or ternary systems.
Fast and free transaction
-Yes fast and with no fees. It was blowing my mind when I was reading it. While Bitcoin having scaling issues and had more than a 100 000 unconfirmed transactions IoTa is showing as for how the future should look like. Their transaction time is inversely proportional to the number of transactions on the Tangle. The more transaction, the quicker each transaction will be confirmed.
Quantum proof
As we know future is coming and massive quantum computers as well and with that type of technology you can easily hack a blockchain network. But IOTA uses hash-based signatures instead of elliptic curve cryptography (ECC). Not only are hash-based signatures much faster than ECC, they also greatly simplify the signing and verification process and reduce overall complexity of the Tangle protocol.
In my opinion, I found something really new and disruptive. I think that's how machine to machine economy will look like. That is the reason why I am putting half of my portfolio into IOT.
I am not a financial adviser and you don't have to follow me, I would recommend you to learn more about IoTa before you invest a dime in it. Don't be a fool and read before you invest. You can see their white paper to learn more http://iotatoken.com/IOTA_Whitepaper.pdf
P.S never invest more than you can afford to lose.
IOTA still seems quite unpolished and the network still has to proof resilient and able to stand on its own (without a coordinator), but it is one of the most technologically interesting coins out there.
I mean, no fees and scalable. If this coin proves to:
It is going to be Bitcoin on steroids.
That is worth a shot.
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That's right. When we see the proof I will be all in ;)
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The price has gone way up... almost as high as when I bought in :( lol last time I buy on the first day of trading!
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