IOTA is giving a big shock to me while I am trading in poloniex. Coinmarketcap.com is where I will refer all the chart and predict the next coin. Suddently this coin is going up so fast on million transaction that take over dash and litecoin.
So, I not trading in bittrex. I not going to earn anythings from this coin. However, after a day of hot transaction now its going down to -24%. I not promoting iota, i not gain any benefits from this coin as well.
To know what's actually make this coin that can be top 10 in a short period of time. I going to do some research and find out whats actually IOTA is?
Here are some of the sentence how there sell their coin in their website.
First of all the Title is really open your eye get
The backbone of internet of things. - this is really the first coin that we found that supporting ioT.
So, THE ECONOMY OF THINGS
As the Internet-of-Things keep expanding, the need for interoperability and sharing of resources become a necessity. IOTA enables companies to explore new business-2-business models by making every technological resource a potential service to be traded on an open market in real time, with no fees
And, Then the LEDGER OF THINGS
In this new autonomous Machine Economy IOTA will be the backbone. The Tangle ledger is able to settle transactions with zero fees so devices can trade exact amounts of resources on-demand, as well as store data from sensors and dataloggers securely and verified on the ledger.
I thinks, the innovative of the coin is the Tangle. The way they design it in 5 layer format to make it to support b2b. I don't see anythings that anythings that's will bring benefits for consumers in this short time. However, business needs data to provide better services and products to consumers. I think blockchain can do the best ledger to keep track and tracing, recording and analytics can be done easily.
No fees is one of the most attractive for any parties. So, the have to find another way out to make money from this coin. May be in the future, all the iot device have to pre-install iota they collect license from iot device producers or may be building a platform for developer to design their own app in iota itself.
I thinks this can bring iota a very good profit in long terms. Just how google develop android, and google are able to sell theirs app in their own platform. Its really bring a good profit for developers and google if it was target to consumers as their buyer.
Anywhere, they just supporting b2b at this moment. I think this is a reason, most people drop the coin to see how far it can go.