The striking growth of bitcoin in recent weeks has not been enough to quell the doubts generated by a market that offers gigantic returns but is not subject to regulatory controls.
However, the increase in its value has been overshadowed by the explosive rise of a much lesser-known cryptomoneda.
This is IOTA, an investment product that self-declares itself the "backbone" of the Internet of Things economy.
The value of IOTA increased impressive 774% from early November to date.
This has raised IOTA's total market capitalization to US$12 billion, allowing it to enter the top five virtual currencies in the world (bitcoin, ethereum, bitcoin cash, IOTA, ripple), according to the MarketWatch financial information site.
This followed the release of versions that several high-profile technology companies (including Microsoft) were coordinating efforts with the German NGO monitoring IOTA to create a secure data market so that data would not be wasted.
IOTA co-founder and CEO David Sonstebo told the financial news network CNBC that "99% of this valuable information is now lost in the void.
"IOTA encourages the idea of sharing data through its free-of-charge transactions and ensuring the integrity of information free of charge,"he added.
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According to the specialized site Cryptocurrencychart. com, on December 6 the IOTA was worth US$4.5 per unit, while the bitcoin was worth US$12,962.
