The crypto I want to introduce to you today doesn't get much media attention.
However, it could be just as revolutionary as bitcoin or ethereum…even more so!
And it's thanks to its ground-break technology, which has interested major companies.
In fact, this crypto has already formed partnerships with Microsoft, Volkswagen, Bosch, Fujitsu, Audi, Jaguar Land Rover and much more.
It's already up around 70% (double bitcoin) in 2020 and this could be the start of a staggering rise!
So what crypto am I talking about?
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IOTA: Faster, better at no cost!
I’ve spoken about IOTA before
and what makes this crypto so unique. But here’s a quick reminder just in case, IOTA has no fees, doesn’t need miners and can be used with complex smart contracts.
And crucially, unlike ethereum or bitcoin (even the internet), which slows down the more people use them, the more people that use IOTA, the faster it gets.
This essentially means, IOTA’s transactions per second (TPS) are limitless.
So how does IOTA achieve this?
Well, instead of using a blockchain like bitcoin and ethereum, it uses a directed acyclic graph (DAG).
Basically, when you make a transaction on IOTA, you need to verify two previous ones before yours goes through. And because the people making the transactions are doing the verifying, there is no need for miners and so no need for fees.
So you end up with a ‘feeless’ crypto that speeds up as more people use it.
Unlike most major cryptos that are working on these scaling solutions today, IOTA was already designed with scaling in mind from the beginning.
This gives it an edge over other cryptos.
But here’s the thing, there’s always been one problem with IOTA…
Because IOTA relies on something called “the coordinator” to make sure its network runs as it should, it isn’t truly decentralised.
And remember decentralisation is essentially the entire point of crypto. The purpose of crypto is to create networks that run themselves, without the need for any middlemen or third parties.
So, by needing a coordinator to coordinate its network, IOTA wasn’t fulfilling that promise.
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In 2019, IOTA announced it had solved this problem!
This is what IOTA said last year,
“The main goal of this event was exactly to figure out how to kill this coordinator. We call it Coordicide. And I think we… we did it. There is a lot of work to do, but we did it”.
By December 2019, IOTA released a long-awaited roadmap. You can read it here: roadmap.iota.org
. And one of the sections was dedicated entirely to Coordicide.
Take a look at it below.
You can see Coordicide is on track to launch by the end of 2020.
So what does this mean if IOTA pulls this off?
It will essentially render every other crypto obsolete.
That’s not to say other cryptos will die out. But as crypto expert Harry Hamburg says, “They will be the technological equivalent of dial-up, whereas IOTA will be 5G”.
And, this could mean IOTA’s price could soar exponentially in the future and seal its position in the top five cryptos by market cap.
See you next week.
Managing Editor, The South African Investor
IOTA is just one crypto backed to soar in the coming years, but our resident crypto expert Sam Volkering believes this crypto
could also generate investors mouth-watering gains!