IOTA (MIOTA) is a new cryptocurrency founded in 2015 by a group of developers namely: Dominik Schiener, David Senstebe, Dr. Serquei Popov and Sergey Ivcanchegio.
The cryptocurrency uses tangle technology as opposed to blockchain, which is used by most of the cryptocurrencies. This makes it a very unique cryptocurrency with great feature to be enjoyed by its users.
Advantages of tangle technology
Tangle is a special type of directed acyclic graph (DAG). It does not require any mining like most of the other cryptocurrencies. Transactions only involve the users and there are no miners to authenticate transactions which translate to faster transaction rates.
Also, the tangle system is capable of handling an unlimited number of transactions at the same time, contrary to blockchain. Actually, the more the users the faster the system gets.
What’s unique about IOTA (MIOTA)?
One of the most outstanding things with IOTA is that contrary to most of the cryptocurrencies where new units are added to the market every day, the company has a fixed number of coins which already exists. The number of coins is 2,779,530,283,277,761.
IOTA’s Price action
Over the years, the prices of coin have been steadily risings especially when compared to the US dollar.
At the beginning of 2017, the value of the currency had stagnated at below $1. But from December the value shot up and in a span of around one month it hit a high of $5.3 before stabilizing at the current price of around $3.45.
At the current value, the coin seems to be a bit stable and it might be looking to continue with its upward trend.
IOTA Forecast for 2018
The IOTA coin seems to have started the year on the right foot with its value appreciating with an average of $2.4 in a month. This is a positive indicator of its resolution to gain even more ground.
Investors can also bank on the recent developments where IOTA has partnered with International Transportation Innovation Center (ITIC) and also its selection by the Tokyo Metropolitan Government to take part in their accelerator program. The accelerator programme of the Tokyo Metropolitan Government is essentially of a great impact because it is geared towards making IOTA to become recognised in Japan as well as connect it with local companies in a bid to help in coming up with new innovative solutions for the Japanese as well as for the entire global market.
As it stands now and considering these developments, the value of IOTA (MIOTA) is expected to continue with its current bullish trend.