The strong IOTA high has surprised the entire crypto-coins market in the last 30 days. While all the attention of the media and crypto community was focused on Bitcoin, after the episode of Bitcoin Cash , IOTA grew out of the limelight. In addition, IOTA has established its position among the top five crypto- currencies at market value, according to coinmarketcap.com .
Over the past 30 days, IOTA has jumped more than 400 percent, going from $ 0.20 to $ 1.00, while Bitcoin has seen an expressive high of more than 100 percent, jumping from $ 2 thousand to $ US $ 4 thousand.
Only in the last seven days, IOTA (MIOTA) had a market value growth of more than US $ 2 billion (at the time the article was published), reaching the highest level in its history. In addition to the increase in price, MIOTA has increased its popularity thanks in part to a protocol update along with announcements from several significant partnerships including Refunite, Imperial College London & F6S, UCL and UC Berkeley and Norwegian organizations in the area of health. This increased interest in the Foundation and its currency is evident not only in increasing value but also in turnover. MIOTA recently outperformed Ethereum and came second in the Bitfinex negotiations, behind only Bitcoin.
The IOTA Foundation has worked hard putting its protocol, the Tangle, to the test. The team began its project with high goals to create an ecosystem based on distributed records without transaction fees and solving the problem of scalability, widely debated in the case of Bitcoin's Blockchain . In addition, the Foundation has been actively engaged in demonstrating the power of its platform in real-world applications.
Of the recent price increase, founder David Sonstebo told CCN:
I believe that the increase in value can be attributed to the fact that more and more people realize that: a) Bitcoin's Blockchain has serious problems with tariffs and scales, which IOTA solves; B) unlike most accounting book projects distributed, IOTA is focused on very real solutions and works with global companies and organizations on issues that need to be solved for the current moment, and C) more and more projects publicly announce their exodus Away from Bitcoin / Ether and sought out the IOTA.
Thanks to a dedicated team of experienced entrepreneurs and developers, Tangle, the IOTA network that replaces Blockchain, is becoming a coveted technology in the growing IoT (Internet of Things) and the industry of the shared economy.
IOTA is the future for sure!
Not necessarily! It will be the future, in case the producing industry adopts the IOTA protocol/platform. If they decide to develop their own - the IOTA hype can be over before anybody of us is able to react. Don't get me wrong, I see a great potential in IOTA and I will hold it long term. I believe in it, but I am aware that certain industries may not want to make use of the IOTA protocol.
Yeah the mining companies LOL.
IOTA is interesting because it's completely different from the blockchain with its tangle system. The Internet of Things could be very nice in combination with IOTA.