Here is the path I think Iota will travel to becoming wide spread:
- the exchanges will realize it will raise their profit margins to have iot among their tradable assets since traders would not pay extra fees to network for transferring their iots;
- once it is adopted by more exchanges, traders would realize it is better to transfer between accounts using iots because of its lack of fees;
- the increase in demand for using it as some sort of medium for exchange transfers will boost its price;
- it will become some storage of value;
- a side effect would a better efficiency of tangle network since it works better with high transactions volume;
The point is that the absence of fees and an increasing capacity as the network grows are two very appealing reasons for the mass adoption of this cryptocurrency.
The only question that needs to be addressed is whether this new kind of decentralized monetary system will survive the stress test of daily usage without any security issue.
I hope so because the idea is simply fantastic and the project very well grounded!
Long life to Iota!
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Good article, do you know when they will make the stress test are there any information about that?
Thanks, Goodmindset!
I've used stress test in loose way meaning a high amount of transactions without some sort of hacking and network deceiving.
thanks for sharing!
especially your second point is very interesting. I haven´t thought about this probability but it is a great chance for iota. Just don´t know if all exchanges are willing to lose their uniquness for some cryptos.
Very interesting. Thanks for sharing!
This has potential to be the gas and currency solution bitcoin has always hoped to be