This is the last part of my three part series of which coins to buy before the Bitcoin Hard Fork. If you haven't checked out the last two coins, you can check them at coin1 and coin2.
What is IOTA ?
IOTA is a crypto which allows machines [basically IOT devices] to talk and transact with each other. It enables an efficient interoperability among the devices. You can imagine it as your car having it's own identity and a wallet, it can pay for it's own wash, people can pay it for renting it, it pay for itself at a gas station by using micro-transactions.
What are they trying to do ?
As mentioned above, IOTA is making devices to talk and interact among-st themselves by enabling the micro-transactions. This is achieved by completely eliminating the blockchain and by using what IOTA is calling Tangle. Yes, you read it right.
To understand IOTA's USP, one must understand what Tangle is [I will try to explain in brief and simple terms]
Tangle is a block-less distributed ledger in which a transaction is approved only when the two transactions ahead of it gets approved. You can think of it as a class of 50 students who want get their homework corrected. The teacher asks each student to evaluate two other students homework and only then his homework will be evaluated. So, instead of the teacher evaluating the homework for all 50 students [which essentially happens in a blockchain where the miners approve many transactions], he is asking the students to correct each other's work which makes her work simple. That's the beauty of Tangle. This allows IOTA to have transactions with 0 fees. To learn more you can check out this amazing video here.
Tangle is scalable, lightweight and for the first time ever makes it possible to transfer value without any fees.
Who are behind it ?
David Sønstebø is the CEO of IOTA and has been working in the IoT spcae since a long time. IOTA has well balanced and an experienced team.
Why should I invest in IOTA ?
IOTA has already started working with Bosch for IoT devices. They're also working with Ford to enable car wallets and transactions. There's world's first mobile phones which is blockchain enabled which coming on IOTA platform. And course we've Tangle which could disrupt this whole space all together.
With so much to offer, IOTA stand at a mere $0.40 right now which is really sweet price to get on-boarded right now. Number of coins which will ever come out have already come out.
Coming to technical standpoint, IOTA is highly oversold and MACD is just about to crossover.
Final Verdict:
With Internet of Things becoming the way for the future IOTA definately stands a upper hand in this space. With their revolutionary new distributed ledger Tangle which could potentially kill the blockchain, IOTA has great future ahead. Also, the point which should be noted is that IOTA is currently available only on Binnance and Bitfinex, it hasn't hit the major exchanges like Bittrex or Poloniex. We could see some serious volumes once it hits them.
So, would be buying IOTA ?
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STOP@originalworks
hi @indcrypto
interesting article, iota is one of the most promising project
Yea it is @palog
Good work !
At the Dip yesterday i took the chance and bought some more IOTA for myself.
I am going to hold it for a long long time...
I am holding it since a long time.
helpful information..thanks for sharing
Thanks.
Very Informative post , Will check IOTA ! Thanks !
Thanks.