According to sources close to both companies, IOTA received a substantial investment from the Robert Bosch Venture Capital GmbH. IOTA recently experienced an explosive growth with the Market Cap going up with 400 percent. This price increase was due to the launch of the Data Marketplace of IOTA. IOTA, The cryptocurrency for the Internet of Things, IOTA, has received a lot of interest for their "tangle" technology.
The potential of IOTA is huge. Their "tangle" technology allows for zero fees for a transaction, no mining needed and fast transactions. The chain can't be cluttered, which is the case for Bitcoin at this moment, because the node needs to verify 2 transaction before it can process the new transaction.
IOTA will also be implementing Smart Contract in the source code. This can be a huge feature in IOTA, because the IoT devices could automatically be performing actions when the conditions in the contract are met. This could mean a new kind of automated IoT products.
I think the combination of the IoT, the Smart Contracts and the Tangle technology will make IOTA an even bigger player in the Cryptocurrency space. For sure, because the project has some real potential to be used by different companies for their IoT applications/products.
What do you think IOTA needs to be adopted and how do you see the future of IoT and IOTA? Please share your knowledge and thoughts about this in the comments below.
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