The striking growth of bitcoin in recent weeks has not been enough to quell the doubts generated by a market that offers gigantic returns but is not subject to regulatory controls.
However, the increase in its value has been overshadowed by the explosive rise of a much lesser-known cryptomoneda.
This is IOTA, an investment product that self-declares itself the "backbone" of the Internet of Things economy.
The value of IOTA increased impressive 774% from early November to date.
This has raised IOTA's total market capitalization to US$12 billion, allowing it to enter the top five virtual currencies in the world (bitcoin, ethereum, bitcoin cash, IOTA, ripple), according to the MarketWatch financial information site.
This followed the release of versions that several high-profile technology companies (including Microsoft) were coordinating efforts with the German NGO monitoring IOTA to create a secure data market so that data would not be wasted.
IOTA co-founder and CEO David Sonstebo told the financial news network CNBC that "99% of this valuable information is now lost in the void.
"IOTA encourages the idea of sharing data through its free-of-charge transactions and ensuring the integrity of information free of charge,"he added.
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According to the specialized site Cryptocurrencychart. com, on December 6 the IOTA was worth US$4.5 per unit, while the bitcoin was worth US$12,962.
IOTA is indeed a very promising cryptocurrency.
It's a shame that there are so many troubles getting IOTA off exchanges. I've got some IOTA 'held hostage' on Binance, because withdrawal has been suspended. According to Binance it's an issue with Iota's network or wallet. I may have to wait until the updated IOTA wallet is released.
I must admit this affects my trust in IOTA and their network :-(
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This will be big for the internet of things. It improves automation through machine-to-machine payments.
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The recent spike in IOTA is the validation by the market of their unique model in the eyes of the crypto-investor community. This is boosted by the announcement of the Microsoft partnership, and the non-existence in their protocol of transaction fees and congestion that currently handicap Bitcoin and Ethereum, respectively "
It may still be too early to position IOTA as a full challenger to Bitcoin and some of its products, but it is clearly another cryptocurrency that is making its way. Although no one has seen IOTA come since the beginning of December, he has definitely declared his presence.
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Well done publishing
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IOTA had a huge growth in past month, hope it continues. :)
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Price aside, I really think their technology is revolutionary. More people using it = faster transaction times. The IOTA Flash network is quite ingenious as well. Excellent article!
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