IOTA (MIOTA) is the notorious cryptocurrency that centers on the Economy of Things – the worldwide marketplace where connected devices will eventually exchange data amongst themselves. This technology is still in its very early stages of development, with the end goal of becoming the go-to digital currency within the Internet of Things (IoT).
Here’s the thing: The crypto market is down – way down from where we were about a month ago. Top coins across the entire cryptocurrency world saw massive gains and peak prices in December and through the first week of January before the market-wide nosedive. The IOTA coin was no exception to the dip.
Things look like they are starting to taper off, and the dips look like they are slowing down – hopefully to reverse soon. That means this is a prime buying opportunity to get in on MIOTA before this coin shoots back up past $5.00, like it did back on December 20th.
The IOTA coin universe is growing
This is one of those cryptocurrency projects that doesn’t actually have a universal product currently functioning. The IOTA Distributed Ledger Technology needs to spread, prove its strength, and snowball from there to get the ball rolling with mainstream adoption.
One cool thing that the team behind this coin has done to further this goal is to launch an ecosystem to serve as a hub for the MIOTA community.
— IOTA (@iotatoken) February 7, 2018
They made the announcement last week, and describe the ecosystem as:
“a platform to house the community of developers, startups, hobbyists and initiatives all over the world working towards the distributed and decentralized future we all aspire to create (think developers.google.com, but for open-source DLT applications built on the IOTA core protocol). From proof-of-concepts, utilities and libraries, to educational resources, media, philanthropic endeavors, and more, the IOTA Ecosystem will be where everyone involved in the broader IOTA community can meet, collaborate, learn, inspire, develop and build.”
This distributed ledger technology, like a lot of blossoming blockchain-based systems out there, is really taking what its fans, investors, and overall community have to say seriously – and this one is including them in a meaningful way.
IOTA (MIOTA) is hitting the road
Another big announcement was made last week that really excited the fans of this crypto coin who are obsessed with the futuristic aspect of the technology.
— IOTA (@iotatoken) February 9, 2018
Tier one auto parts company Robert Bosch Venture Capital GmbH just made a serious bet on the future of the IoT. This car parts maker just bought a whole bunch of MIOTA, in a move that “represents Bosch’s transition from a hardware company to a company that deals with data and monetization of data.” That’s according to the company’s Senior Technology Scout in Israel, Tal Dekel.
Don’t forget about Taipei
This cryptocurrency platform is working with the city of Taipei in a new, groundbreaking project. They are collaborating on the exploration of ways IOTA’s Tangle technology can be used in “smart cities.”
“We are so excited about teaming up with Taipei City,” said one of the coin’s co-founders, David Sønstebø. “It proves that our next-generation technology is ready for real-world use cases and is more than just a theory.”
Part of this project will be integrating this technology into National Identification cards. Can you picture how our lives will be in 5-10 years’ time – with smart ID cards and cars that exchange data and communicate with each other?
Very cool, eh?
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.