The IOTA crypto currency is unique. Its goal is to operate in a block-less environment, trying to develop its own technology with regard to DLT and Tangle. The development team is working on the next phase of the project, which would see the company become a leader in the field of the DLT network, which could lead to a great expansion of this moeta. Even when IOTA showed declines in its market value, such as when it fell below $1, it managed to recover thanks to new partnerships and Tangle’s technological potential.
IOTA and Distributed Ledger Technology
The so-called distributed logic of a system was introduced to the public thanks to Bitcoin, which produced the first cryptocurrency based on a blockchain system. This security chain has the advantage of maintaining a high level of privacy for its users, keeping transactions secure. Despite the very high level of technology, and the expansion of the blockchain system, the bitcoin software has always shown slight shortcomings regarding privacy, not always as complete as we imagined at the beginning.
So, the best alternative to carry out a certain kind of operation, has remained the DLT. IOTA uses a network called Tangle, which uses block-less technology.
The potential of DLTs is high, they could easily find space and mass application in government institutions, businesses and other different fields. They have the ability to simplify the administration of taxes, passport issues and legal documents, and at the same time help in collecting data, creating documents and maintaining private information, all using a new technology blockchain.
Tangle is believed to have the potential to get the most out of the DLT system and the so-called “Internet of Things”, considered the next step in this way of doing business. The IOTA Tangle system seems to be the perfect network for the so-called Internet of Things and the Internet of Values, and in combination with a system based on an acyclic graph oriented to and alongside the DLT, it will possibly be used as a driving force for the respective IoT and IoV. Insiders believe that IOTA has the technology to support such a DLT system, so that it can move forward in the future.
IOTA And The Partnership With Fujitsu
According to the events of early 2018, Rolf Werner, former head of Fujitsu’s business in Central Europe, has entered into an agreement with the Tangle team. He has been appointed as head of IOTA’s operations in Switzerland, Austria and Germany.
This move highlights his intention to expand his currency and technology. Dr. Werner is not the only one who was added to the board of directors prior to his appointment, Johann Jungwirth, the former CDO (chief digital officer) of the Volkswagen Group.
Werner said that the possibilities provided by the Tangle system were considerable, so that a secure decentralised system based on the blockchain system could be implemented. He added that IOTA goes beyond machine to machine payments, using the example of identity security management. Having said that, IOTA continues to show a decidedly rapid pace of growth, both in technical terms and in terms of market value.
The Value of IOTA
Even considering the currency’s recent poor performance, there seems to be scope to see MIOTA grow strongly again. After falling below $1 per unit, MIOTA is rapidly increasing its market value.
In addition to the increase over the dollar, there is a sharp increase over the BTC, showing a better performance in the market.
In December 2017, MIOTA peaked at over $5 per currency. Although later, due to a general decline in the crypto market, it saw its value fall for about 8 weeks. Only time will tell whether IOTA will be able to keep its expectations. Possibly it could soon return to the value of $5 per unit and above, proving to be a good long-term investment.