The web is replete with information and advantages of Blockchain technology. Indeed blockchain has immense potential with a lot of advantages to offer especially in terms of security and speed of data transfer. However, when it comes to meeting the accessibility issues, blockchain has its own limitations.
Here comes the role of distributed ledger technology that supersedes the entire gamut of blockchain-based solutions providing answers to all questions that until now remained unanswered.
IOTA: THE GROUNDWORK
Distributed ledger technology is an altogether different concept which people most often tend to confuse with blockchain-oriented cryptocurrencies like Bitcoin and Ethereum. Emerging as the most promising solution to scalability, this distributed ledger technology (DLT) has been the root of genesis for MIOTA or more popularly called IOTA. A revolutionary concept, IOTA empowers the Internet of things (IoT). Conceptualized to address issues, as aforementioned, pertaining to scalability, IOTA bases its fundaments on making lives more empowered and expeditious.
IOTA: THE GROWTH STORY
Talk of money or making money, even for that matter, money makes money – IOTA is the ultimate solution. Designed to enhance the m2m economy of Internet-of-Things (IoT), IOTA was introduced way back in 2015, as a quantum-resistant distributed ledger protocol. With the pure objective of IOTA being to guarantee an anytime-anywhere accessible decentralized payment system, be it micro or nano, it offers solutions that warranty data integrity without any compromise on security.
IOTA: INDISPUTABILITY WITH NO COMPROMISES
The challenges of blockchain being data accessibility also came in packages. Those packages included slower transactions but higher costs. IOTA ensured these redundant costs are eliminated along with the advantage of the higher speed of transactions. This prized digital currency offered users the advantage of fixed money at no inflationary cost. The decentralized consensus of IOTA makes users their own masters of validation. Like blockchain, this digital asset IOTA also does not call for roleplaying of any intermediaries.
Working on an entirely different ledger platform called the Tangle, IOTA requires a very minimal workload of calculations. Like other platforms, Tangle refrains from offering users any freebies of rewards and does not intend to do so in the future either. Tangle focuses itself entirely on offering the users the benefit of efficient data transfer that would make their transactions fast and flawless thereby justifying its paradigm role in the Internet-of-things eco-space.
IOTA: NOT COMPETING BUT COLLABORATING
The avant-garde technology of IOTA has made it a frontrunner in next-generation solutions. Breaking the barriers of conventional methodologies of the transaction and offering innovative solutions for the future, IOTA features in the top-ranked choices of users who aim to match pace with the progressive trends in trading. Institutions across the globe have emerged showing active interest to sign a partnership with IOTA. Going by the predicted estimates, there would be 26 billion objects empowered by the revolutionary IoT constituting $4 trillion to $11 trillion of the global economy. The future is bright for IOTA as the organic adoption gains momentum since the DLT network assimilates solutions based on real-life applications.
Being a key roleplayer, IOTA Foundation has collaborated with a number of organizations to harness the potential of progressive technology. The list is endless with renowned companies like Volkswagen joining the brigade of Tangle shaking hands with IOTA to enable downloading of software for its vehicles. The German car major unravels proof of concept for integrating Tangle extensively in its cars. The collaboration gave birth to “Digital CarPass” in the year 2019 wherein the car major together with IOTA conceptualized a system to arrive at data mileage. Following the footsteps of Volkswagen, Porsche too confided having signed a pact with IOTA for developing innovative solutions under Program 4.
Another outcome of IOTA and Jaguar Land Rover nuptial was the Smart Wallet that facilitated the transfer of value and data. Companies like Linux and Dell are in talks with IOTA to foray into a novel concept of “data confidence fabric” especially for their data verification function. Undoubtedly, IOTA has totally dedicated itself to the cause of Data Processing thereby crusading smart charging, crowdfunding, smart homes, space exploration, real-time data storage, smart grid functions.
IOTA: THE BIOLOGICAL PARENT OF MIOTA
A unit and digital asset of IOTA, MIOTA can be purchased on all noted exchanges. The ‘M’ stands for ‘mega” revealing the true superpotential of this crypto asset. Launched in the year 2016, MIOTA had great support from its parent IOTA Foundation that contributed approx. $500,000 in cryptocurrency from its crowd sale.
Equivalent to 1 Million, the 1 MIOTA would represent 1,000,000 IOTA. Aspiring to be ranked as the first obvious choice in internet-connected devices, IOTA aims to enable micropayment transactions via MIOTA. For example, buying groceries from an e-com site using your internet-linked fridge may not be a distant dream.
MIOTA, the native token that is traded on various exchanges by millions of users worldwide is yet to position itself in the mainframe of investment-worthy currencies. As a naïve entrant, this cryptoasset is yet to gain traction of investors as the market shows uncertainty towards its inherent potential.
IOTA PRICE PREDICTION: TAKING AN EXPERT HELPLINE
With a market capitalization of $1,187,796,543 and a trading volume of $42,550,494, IOTA has a lot to surprise investors. IOTA has to its discredit being the slowest and to its credit being the consistently growing cryptoasset nomenclature. The founders of IOTA are highly optimistic that being a leader the mass adoption of IOTA has a lot of promises to behold for its fans.
Going by the various expert IOTA forecasts if each device implementing IOTA could own a minimum of $1 worth of IOTA (MIOTA), with each human owning two of these devices on average, the (IOTA) MIOTA price will skyrocket due to the increase in demand for IOTA in future.
Stating the bullish scenario is expected to continue, many technical wizards opine as below:
Wallet Investor: “There is a downturn predicted and IOTA may lose sheen by almost half of current price stooping to as low as $0.14 by the beginning of 2021.”
Crypto Rating: “Being based on a logical algorithm, IOTA has both short term rally as well as long term potential advantages the price may reach $0.39 end of January 2021.”
Long term technical team: “IOTA has a promising future. It may get marginally impacted but bulls will be back and around 2024 its price may skyrocket to $0.88.”
Trading Beasts: “IOTA, going by what it was in August 2020, sounds highly bullish as it has shown a reliable consistency. By January 2021 end, it should easily swing around $0.42 to 0.50.”
Long forecast: “Irrespective of its adoption, IOTA will tend to face heat till Jan 2022. Going by predictions that bulls may be back, IOTA should end up slightly higher, say by 2024 $0.38 at best.”
CoinSwitch: “A lot of MIOTA projects are moving from concept phase to testing phase and by the end of the year, a good number of projects would have been completed, hence, an all-around bullish prediction of $12.00.”
Mega Crypto: “IOTA price might reach $2.37 and by 2023 going up to $4.88.”
PrimeXBT: As per PrimeXBT, IOTA could show massive head and shoulders triple bottom and for the short-term, it might trade around $0.37 but later, it can mark bullish momentum and retest its previous ATH around $3 over the next five years.
Smartereum: “IOTA cryptocurrency might grow threefold in six years, say by 2026, it should have a clear rally around $30 to $38.”
Digital Coin Price: “IOTA seems to be showing negative syndrome. The bears will push it down like other crypto giants too. It may disappoint its investors sailing barely at $0.12 and that too with difficulty.”
IOTA PRICE FORECAST: THE SWELL THE THRILL THE LULL THE CHILL
With the current price of $0.42 at the time of writing this analysis and currently 2,779,530,283 MIOTA in the market, IOTA price predictions from the technical analysts of the cryptocurrency market show a diversified trend with a mix of bears and bulls together. However, the future price predictions for 2021 are largely bullish.
Though IOTA did not outperform during the last year. There is a lot to be said as a courtesy Pandemic. Most of the competitors of IOTA too did not mesmerize the traders either. However, IOTA has tried to sail even which is a unique feature to debate. Its involvement in various adventurous projects has ensured that its price keeps up the momentum. The IOTA Foundation has announced that its novel launch Firefly, its new wallet would change the scenario drastically for this digital asset. The features like reusable addresses, profiles, etc would enhance the network performance replacing the infamous Trinity wallet.
The developments and alliances with behemoths would surely make the coin’s market price against USD fly to the moon.
IOTA PRICE PREDICTION: BULLS OR BEARS: 2021-2025
IOTA PRICE PREDICTION 2021-2022
Just to be in tandem with optimistic evangelists, if we consider that the price of IOTA will reach the moon by 70% in the year 2021, it is still unlikely as the Covid-19 vaccine should be available to a common man only by mid-2021. With a decrease in value on a daily basis, MIOTA price stands around $0.40 with a circulating supply of 2,779,530,283 MIOTA. The currency has a market cap of $1,187,796,543.
Volatility is the inherent attribute of the IOTA coin and so any sort of far-fetched price prediction would be an uphill task. However, going by the expert price forecast and market sentiments, the mood looks pretty positive.
Keeping also the nascent features of MIOTA being easy to store and other DLT driven environmental advantages, one can consider that IOTA crypto would be pivotal to the technological advancement of the ledger database for scalability and storage. Also keeping in perspective how IOTA shares the logic and database of different devices that collectively run it, it makes the transactions more reliable and efficient. This might drive the IOTA adaptability rate and increase its valuation to around $4 by the end of 2021.
IOTA PRICE PREDICTION 2023-2025
Also if the IOTA price continues to perform dramatically and consistently where it stands today, firm and tall, surely by the end of 2023, the IOTA price is predicted to reach its max price of $6. IOTA price prediction for the next five years might even be a game-changer rewriting history surging to $12. As per the IOTA Foundation statement made to the media, “IOTA is going to emerge as a rising sun outshining the latest innovations in the blockchain technology. IOTA might surpass everybody’s expectations reaching daunting heights of $15 by 2030.”
FREQUENTLY ASKED QUESTIONS
Is It Profitable to Invest in IOTA?
Based on the crypto market data and analysis, it can be predicted that it is profitable to invest in IOTA for the long term. By long-term, we mean that the IOTA forecast for a period of 5+ years.
How Do I Purchase IOTA Coins for Myself?
You can purchase IOTA coins via many trading platforms available in the market. Register yourself with your KYC credentials and transact via any of your Master or Visa credit card. Post verification your crypto assets are transferred to your IOTA wallet. All in just 30 minutes!
How Do I Make My IOTA Wallet?
Your passkeys to reach the cryptocurrency wallet stay saved on your smartphone. Furthermore, you can quickly and fast IOTA all of your IOTA coins.
Is IOTA the future?
The IOTA price today is around $0.40 per MIOTA coin. This represents a significant fall from its all-time high. However, given how powerful this Tangle technology is powering IOTA, and the promising future of the Internet of Things (IoT), IOTA will rise once again, and reach new record prices in the years ahead.
I am unable to transfer my IOTA to exchange in time. What should I do?
With IOTA, you are assured of exchange supporting the migration of IOTA. You would not suffer any losses. Wait for periodic migrations.
How to buy IOTA at the lowest rate?
There’s an overview of the exchanges available to you and a buying guide to help you along. Several websites monitor all major crypto exchanges for the current IOTA price for easy comparison. Rates are taken directly from each exchange’s official web socket. So, users can compare and buy with the best rates.
IOTA vs Bitcoin: Which is the better option?
IOTA has a lot more advantages compared to Bitcoin as BTC transactions have higher fees while IOTA has no transaction fee. And IOTA is the distributed ledger built for the Internet of Things.
Can I mine IOTA?
No, you can’t mine IOTA, all the supply of IOTA exists now and no more can be made. If you want to send IOTA, your ‘fee’ is you have to verify 2 other transactions, thereby acting as a miner/node.