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Sunday, December 10, 2017

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Quo Vadis: Cryptocurrency

“Wow, if I had invested $1,000 in Bitcoin last week, today I would have... still no idea how Bitcoin works.”
Stephen Colbert

The virtual network created for the Internet of Things [IoT] – IOTA, as you may know, had a recent value upward rocketing for their token MIOTA against the US Dollar. On the cryptocurrency list by market capitalized it swung up to the fourth place, surpassing Ripple to take the #4 spot among cryptocurrency market caps.

The co-founders of IOTA – David Sønstebø and Dominik Schiener  confirm: “IOTA has been under intensive development for over two years and has not spent any money on marketing. In this time our focus was on making this next generation distributed ledger technology a reality. In this period we refused exchanges listing IOTA in order to ensure everything was working properly before it went to market.”

The recent price explosion has come on the news of a major agreement being signed with Microsoft, Fujitsu, and others for business-to-business data sharing. In the past 48 hours the price has steadily increased at exponential rates, settling around $4.60. This is why we believe that the Miota token have the legs to become one of the top contenders for the Market-leading Bitcoin currency.

Are we Moving beyond Blockchain?

IOTA is famous for its ‘Tangle’ system - a platform of interconnected user nodes that both validate and create transactions. The system is brilliantly designed to allow users to create transactions simply by validating, meaning that all transactions are secure, immutable and absolutely free!

Because the system allows for zero transaction fees, it has great potential for the data industry since micropayments for data among businesses cannot be suitably handled by legacy Blockchain technology systems.

Days before a major futures product launch, bitcoin suffered heavy losses. On Saturday 10 December the Bitcoin Cash Price correct around $13,000 after a nasty upside ride above the $17,000. It really proved to be a red weekend for Crypto currencies as

The interest in the technology will likely continue to grow as the need for scalable free transactions grows as well.


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