Will IOTA (MIOTA) Really Be One of the Top 3 Coins in 2018?

If you haven’t noticed the IOTA price plateau over the past month, that means you probably haven’t bought any IOTA coin yet – listed on exchanges as MIOTA. This is one of those cryptocurrencies that even slightly passive cryptocurrency fans know of. But IOTA (MIOTA) is not a coin that people know too deeply. Don’t worry, you’re not alone.

This blockchain technology is actually pretty unique and innovative here. Beyond that, the concept is forward-thinking and exciting. The network behind this cryptocurrency has the potential to really integrate into consumers’ lifestyles.

What’s the Idea Behind the IOTA coin?

This coin is all about the Internet of Things (IoT). In recent years, consumers have been using connected devices more and more. The gadgets, appliances and smart devices in our lives are all collecting data. That data will only continue to grow, as will the vast network of interconnected machines.

As that proliferates more and more, machine-to-machine (m2m) transactions might be happening all around us all the time without us having to worry about them. There will be data transactions throughout the IoT, and IOTA (MIOTA) wants to be the central cryptocurrency to support this transformation.

What’s So Special about IOTA (MIOTA)?

Well, we did pick this coin as one of our top cryptocurrencies of 2018. It simply has an edge over bigger coins like Bitcoin (BTC) and Ethereum (ETH). The IOTA price performance hasn’t hurt it either. It uses a type of technology that’s technically not blockchain. It is a public ledger, but it’s type of directed acyclic graph they call “Tangle.” Tangle doesn’t require miners to verify transactions. There are also no fees for IOTA coin transactions.

The machines connected to the network each act as nodes that verify transactions. The team behind the IOTA coin also claim that it is tamper-proof and secure. Beyond just refrigerators and cars, this technology can supposedly expand into things like voting machines.

The IOTA Price Action Been Flat Lately

At the time of writing, it is trading at $3.98. The IOTA price path has been a cyclical up-and-down dribble between $3.00 and $4.00 for most of the past month (seen below). But, before that it was a fantastic growth story. This is its chart for the year:

iota price iota coin iota (MIOTA)
coinranking.com

It shot up from under $1.00 to near the $4.00 mark fast. Since then, however, it has flattened out. It hasn’t broken the $4.00 ceiling very much – as so many IOTA (MIOTA) owners have been waiting for.

But a Co-Creator Is Pretty Optimistic

One of the developers who created the IOTA coin certainly has a lot of confidents. In an interview with Finance Magnates, one of its co-founders made a substantial claim about the future of this Internet of Things-focused cryptocurrency:

 

What did Dominik Schiener say exactly? Well, for one thing, he said that he thinks IOTA (MIOTA) will be the “backbone of the machine economy.” Actually, there’s a pretty big chance that will be the case – what other (popular) cryptocurrency do you know of that’s focused on the machine economy?

 

What did Dominik Schiener say exactly? Well, for one thing, he said that he thinks IOTA (MIOTA) will be the “backbone of the machine economy.” Actually, there’s a pretty big chance that will be the case – what other (popular) cryptocurrency do you know of that’s focused on the machine economy?

He also made a prediction about how high the IOTA price will drive this coin up the cryptocurrency rankings. He has pretty lofty ambitions:

“So, when it comes to IOTA, I always say that IOTA has the potential to really be the backbone of this machine economy, which truly means that a trillion dollar market cap makes a lot of sense for IOTA.”

He also said this:

“In my opinion, IOTA is definitely one of the top 3 by the end of the year 2018. I have to do another bet on that.”

Do you think that the IOTA price flat-line we’ve been seeing will be broken and Mr. Schiener will be right?




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.

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Tim is a graduate of the University of California Los Angeles, where he has a B.A. in Global Studies with a minor in Geography/Environmental Studies. He worked for nearly two years as a Research Associate at a top investment banking software provider. He then began working as a freelance writer, covering stock market news and writing corporate content. He has been investing in and researching cryptocurrency for about a year, and has been blogging almost daily on the topic since mid-2017. Tim has contributed to both LiveBitcoinNews.com and CCN.com.

7 COMMENTS

  1. Yes, truly exceptional technology which will grow a lot, great team behind it and partnership like Bosch. I really believe that by 2025 this technology will be valued in trillions.

  2. gentlemen, ladies. the IOTA needs more news, the IOTA needs to spread AWARENESS more, the IOTA needs not only technology and scientists, IOTA needs popularity

    • Nonsense. That’s what us IOTA holders want, but it just start more rounds of FUD and pump and dump volatility. What IOTA needs is verified scalable POCs.

      • look, mathemathic are great but most people dont understand complex math. (myself included). on other hand most people understand relevance and impact that tech could bring or already has. they need to simplify things little bit( get it? bit pun) imo

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