Old kid on the block “IOTA” one of the biggest crypto winners of today

-

Old kid on the block “IOTA” one of the biggest crypto winners of today

One of the biggest gainers in crypto today is IOTA. With an increase of 1,1% in the last 24 hours. it is performing better than most coins, who are in the red. Surprisingly IOTA is one of the older projects in the space, having its origins back in 2015.

Back in the bull run of the 2017 IOTA saw its best days. Reaching a market capitalization over $12 billion the project used to take a firm place between the top crypto’s. At the current moment IOTA has a lower market cap, just over $420 million

Iota Price Analysis

Looking at the broader 30-day picture. We can see the trend is less positive than the short term suggests. Coming at a price of over $0,17 the coin has lost over 10% of its value. The predominantly sideways movement for the last couple of weeks indicates a lack of strong momentum in either direction, though the recent traction might offer a glimmer of hope for potential upside. The overall sentiment from this data leans towards a need for careful monitoring and perhaps a wait-and-see approach for potential investors or stakeholders.

IOTA’s unique Tangle technology

What sets IOTA apart from traditional blockchains is its unique Tangle technology. Tangle mandates users to validate two previous transactions before completing their own. Contrary to Bitcoin (BTC), which struggles with scalability issues, IOTA’s Tangle offers a more efficient alternative, as outlined in the IOTA Lightpaper for businesses. The cryptocurrency of this network  not only serves as a medium for transactions but also rewards network participants. Despite facing prior security challenges – including a phishing attack that resulted in the theft of $3.94 million worth- IOTA has taken measures to bolster its security.

Innovation ahead with IOTA 2.0

 

IOTA 2.0 is lauded for its complete decentralization. The upcoming IOTA 2.0 update amplifies the vision of universal digital autonomy, anchored on its unique Tangle technology—a Directed Acyclic Graph enabling feeless transactions and supporting advanced features like smart contracts, DeFi platforms, and secondary applications. This fully decentralized, secure system boasts swift transaction finality without centralized confirmations, irrespective of participant numbers. Standout characteristics encompass feeless transfers, broadened network utility, asset tokenization, and Web3 compatibility. Further enhancing the ecosystem, the IOTA team prepares for the Stardust hard fork on October 4, setting the groundwork for the anticipated IOTA 2.0 debut

Subscribe For More Stories

Verified by MonsterInsights