Ever heard about Internet of Things (IoT)? Because this article will be related to IOTA price prediction and everything about it.
What is IOTA?
Iota is an open-source distributed ledger technology. Unlike Bitcoin which is based on blockchain, its data structure is called “tangle”, because it does work a bit like a ball of yarn, sending information not to the next peer, but to a few. That means more anonymity, more security and speed of transactions. Making it a bit more complicated but more complex and better version of the blockchain, “blockless” if you will. Also, it does scale and can’t be beaten by a quantum computer. Though Tangle is still experiencing some troubles and faults, we’re sure it will overcome those.
Actually, Iota transactions take just a few seconds, the only thing needed is validating two previous ones. There are no miners in the network nor any fees, the supply in existence is 2.779.530.283.277.761 IOTAs and its market cap goes up to $732.000 with $10.800 of 24h volume, which is not very much, but it should be noted, that MIOTA is still in beta, because it needs more devices for the Internet of Things part, which is crucial here. Meaning, IOTA use is expected to simplify transactions and processes involving objects that have sensors. For a simple example: vending machines or smart fridges where you can pay with Iota. This is not possible with Bitcoin, because of transaction cost and latency.
But those are basics, IOTA has recently partnered with Volkswagen, Bosch, Fujitsu, Jaguar Land Rover, it’s presented in parking apps, apps that check food for fatal allergens before you buy it, and can appear in the near future in practically everything with sensors and the internet connection, every physical device. You can drive a car, and then sell information about your trip, like how was the weather or the road surface, or you can be a farmer and sell the sizes of African agriculture fields, being rewarded with crypto for data reporting. “Any data can be monetized” — says IOTA co-founder David Sønstebø. And why not, because companies do sell information about us, everything we do on the Internet, so why can’t we have that money? Hence, IOTA’s use and application possibilities are infinite, it grants a great ecosystem for smart cities and can even become the ledger of everything we know.
IOTA aims to be a widely adopted standard, being presented literally everywhere, also providing greater transparency for consumer goods supply chains all in real-time. And IOTA is steadily climbing to achieving that goal, making partnerships with cities like Austin, Taipei and a lot of manufacturing companies, like cars, fashion, microchips and a lot more, integrating IOTA right into the core of factories. “We can expect that a machine will be able to pay its assembly, its maintenance, its energy and also for its liability insurance by giving data, computing power, storage or physical services to other machines” — said Kerstin Eichmann of Innogy, the energy company, also a partner. So with a bit of luck, we can live in a fully automatized world someday, where everything can be sold and be measured in IOTAs.
IOTA Price Prediction 2017-2018
IOTA was created in 2015, started trading only in June 2017 at $0,64, but faced a steady fall. The next two years were not easy, full of ups and downs. Right in the beginning, MIT’s Neha Narula wrote an article about IOTA’s security fault, which could potentially lead to user’s money lost, but that was fixed shortly. Then there was a coordinator in Tangle system, which secured the funds, but negatively affected decentralization, though that was fixed too, with Coordicide solution.
The highest market cap was reached in December 2017, MIOTA traded $5,24 per coin. MIOTA opened 2018 at $3,50 due to November-December crypto boom but couldn’t stay there for long, falling during January to $2. And that was it for time being. MIOTA maintained a dominant downward trend for the second half of the year. In August it was trading at $0,45. Though IOTA lost more than half of its value, it didn’t really upset its team. They worked out a lot of partnerships, vastly improved security and decentralization, getting rid of the flaws, making IOTA much more available and ready to expand everywhere and into everything.
IOTA Price Prediction 2019
There’s a thing, MIOTA doesn’t mine. Meaning, mining doesn’t really affect its price, like some of the other altcoins. And the community is much more interested nowadays in real working technologies, than just in hype and trading. That leads to some kind of stability, but growth is expected. The blockchain is still a new technology to masses, just starting to adopt in first world countries, so what can you say for the Internet of Things (IoT)? It’s still very new, too new if I may, but it is the future. The smart cities, with proper real-time control of air and water purity, transport without drivers and a lot more fantastic things, just at our doorstep. And IOTA is developing a perfect product for all of it, targeting its ecosystem to be everywhere and everything.
So getting back to price prediction, the conservative ones do not evaluate IOTA more than $1,15 by the end of the year, others value it at $0,50-$0,65, which is kind of too bearish.
Though more enthusiastic and optimistic forecasts promise from $2 to $4,20 at the beginning of 2019, we can’t really commit to any of those.
MIOTA Price in Years to Come
As we mentioned, IoT is a very young technology sphere, but it’s growing fast. Thus, the price of IOTA is got to rise someday. Mega Crypto Price predicts $2,37 by 2020 and $4,88 by 2023. In Smartereum suppose, that the price might reach $40 in five years. But we know, that predicting is a tough game, and you can never really know. Nevertheless, IoT is inevitable, and we need some sort of anonymous ledger for it, or the government and companies are gonna spy on you through lamps, toasters, cars, TVs, electric toothbrushes and razor blades, and pretty much everything surrounding you. And IOTA offers a really great solution for that not to happen.
We see great future for this “sleeping giant” and hope that it will help to make a world much safer, free and transparent. A better place.