IOTA (MIOTA): A Slow Crawl Toward Mass Adoption

IOTA (MIOTA) is one of the most fascinating coins out of the top 10 most valuable cryptocurrencies worldwide – thanks to its futuristic and innovative concept that centers on the Internet of Things (IoT). This coin has since soared in value to become the 10th highest-valued digital currency with a market cap of $5.3 billion. That’s a lot of money for an organization that doesn’t actually have a working product yet (or even on the immediate horizon).

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You see, that is one of the problems that investors have with cryptocurrency investments like the IOTA coin: when you put your money into these projects, you are truly banking on faith in a product that is pretty far down the road.

With a lot of cryptocurrency options, that type of faith and confidence in each coin has been a driving force in many of their price gains – and this coin is no exception.

The fan base for this crypto coin is pretty passionate about their belief in this coin, but it’s still just kind of an idea-based coin at the moment – and totally out of the tangible grasp of us investors.

The IOTA coin is just a coin at this point

Some cryptocurrencies that are on the market right now already have a functioning product or app where the coins can actually be used to achieve some sort of service fulfillment. DigixDAO (DGD) coins give users ownership of gold investments instantly, Nano (NANO) is currently being used for donations on Twitch, and with Dent (DENT) you can already buy and sell cellular data worldwide with its token.

With the IOTA coin, on the other hand, you can pretty much just buy and sell IOTA coins. They aren’t useful units of value in any sort of system – which, in this case, will be a global network of connected devices from cars to refrigerators.

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That’s what the IoT is – a worldwide system of smart machines that communicate with each other. In the future, machine-to-machine (m2m) transactions will be the norm, and IOTA wants its coin to be the official currency for this vast IoT ecosystem.

IOTA (MIOTA) is making (very slow) progress, at least

So, with an estimated 50 billion smart devices being added to the IoT in the next decade or so, how can a cryptocurrency protocol handle all those micro transactions? What makes this technology unique is that it isn’t really blockchain – it uses something called Tangle.

How does it work? Well, the team behind the IOTA coin developed a new type of distributed ledger technology that differs from most blockchain products – because Bitcoin, for instance, has a limited amount of transactions in blocks that in can process at a given time. With the MIOTA coin, however, each individual device needs to verify two transactions in order to power one – so it is a self-perpetuating ecosystem.

That also means that scalability is sky-high, and there are not transaction fees. On top of that, no miners – the technology doesn’t require miners at all, which is another benefit over the majority of top cryptocurrencies out there.

These are some of the reason that there are so many die-hard MIOTA HODLERS out there.

IOTA (MIOTA) is making (very slow) progress, at least

There is still a lot of work to be done on this system, and we are still waiting around for a 2018 Roadmap – which the MIOTA team hasn’t released yet. Until then, there are a lot of IoT-related big-time organizations that want to partner up with IOTA. One of the first biggest examples is a global engineering company called Bosch – which is working with Tesla on autonomous vehicle development.

Its IoT Marketing Manager for Bosch tweeted this out a few weeks ago:

Yes, a top autonomous vehicle technology company is interested in IOTA for its own self-driving car development.

It doesn’t stop there, either. Volkswagen is also getting in on the action, with its Chief Digital Officer announcing at the Bosch Connected World event a few days ago that VW may soon plan to incorporate the blockless MIOTA technology into its cars.

He also tweeted this:

Bosch & VW are big deals, and we are just waiting for the next big-name partnership to pop up in the news cycle. But, honestly, we are also waiting for a solid timeline when it comes to the real-life product – hopefully that comes in the form of a detailed road map soon.

Do you guys think that deals like this strengthen the case for investing in the IOTA coin?

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.


  1. Investment sentiment in cryptocurrency is starting to shift from throw money at any pie in the sky coin to supporting projects that have a working product that is applicable to the real world and will be adopted by the masses e.g. DENT

  2. Who ever wrote this blog needs to research better
    As iota DO have a work implemented
    And that is with tapai and it’s smart city and probably more if my memory serves me right.
    IOTA will be a true giant of 2025 or earlier when the IoT will be a 10 trillion dollar economy.


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