IOTA (IOT) is an open-source distributed ledger based on the block-less Directed Acyclic Graph protocol. It has no fixed limit on the number of transaction you can confirm per second in the network, hence the network does not slow or become clogged, and there are no fees on transactions. It goes beyond the blockchain ideas. IOTA is not just a currency but an interoperability protocol that seeks to solve the problem of tomorrow.
With the ever expanding need for Internet of Things technology, there is a growing need to share resources on those platforms and to integrate systems and devices. Thus, by majoring on IoT, IOTA differentiates its business from other coins.
IOTA is expected to become a crypto currency of IOT. Its charts enable companies to explore new business-to-business models and functions in IoT. It makes technological resource a potential service that you can trade in real time in an open market without any fees.
It launched in 2014 and became the first of its kind to function as a scalable ledger with quantum resistance and which enables decentralization for all IoT devices. IOTA is led by the IOTA Foundation, an NGO registered in Germany, and which focuses on a non-profit organization that focuses on building electronic currency solutions. It has no mining, no blocks and no transaction fees.
IOTA’s Initial Coin Offering took place in 2015 and 1337 Bitcoins (worth $584.000 at that time) were raised. It debuted at Bitfinex in June 2017.
The economy is a summation of transactions, and it is expected that the growth of the machine economy will achieve its full potential later and help IOTA win big beyond the wildest projections in the market caps.
IOTA had a price of $ 0.8669 per IOTA and a market cap of $ 2.41 billion as of this writing.
How it works
IOTA uses a directed acyclic graph that enables various features like infinite scalability, zero-cost transactions or offline transactions. With the ever-expanding internet-of-things, there is a growing need to share resources. This permits the use of new data-driven business models as all data are hashed and signed by an IOTA node. The immutable hash and signatures values assure the payee of reliable, integrity and authenticity of all nano-payments made.
IOTA has a head-start in the trading works as it provides instant wallet-to-wallet transfers and free transactions.
IOTA trading is available on the main exchanges today. The IOTA price will rise further as people anticipate the exchange launch.
Pundits believe that if the machine-to-machine transactions are what await traders, then IOTA will play a prominent role in the form of electronic cashout. It is expected that the demand for the machine to machine communication such as sensor technology, smart cities, and adaptive systems will continue to increase.
In other news, the blockchain is becoming obsolete, and many businesses and companies do not want currencies they cannot spend. Therefore, developers need to launch iOS apps that include wallets that attract more new investors on-board.
Considering all variables, IOTA price is expected to trade at between $100 and $300 by 2018. Considering the growth of machine-to-machine transactions and the internet-of-things, IOTA price could rise to trade at $1000 by the end of 2018.
There is no market cap for the trading, but IOTA is expected to be number two on the trading markets by the close of 2017. If IOTA charts continue to be promising the way they are, it will be the ideal electronic cash out by 2020-2022.
IOTA has many advantages over other coins including href="https://www.bitcoin.com/" target="_blank" rel="noopener">Bitcoin and Ethereum uses a technology called Tangle, a third-generation Blockchain-technology, which makes lightweight and scalable. By design, the tangle ledger is part of the system that makes decentralization and self-regulation of peer-to-peer network possible. The system becomes stronger with increase in the number of transactions (there is no limit to the number of transactions to be authorized in the network). Therefore, there is no network congestion.
IOTA can transact even sub cent values as there are no transaction fees. This has opened a new world. Currently, there are a large 182.80 transactions per second. It has facilitated at least 2.5 million transactions on the primary network. This translates to over $100 million on peer-to-peer transactions without transaction fees.