Many of you, like me, probably missed the Bitcoin train. The boon that made many millions. But what if I tell you that another Bitcoin might be happening -- right now.
If you've been keeping up with crypto-news, you've probably heard about the cryptocurrency IOTA and the fact that it recently surpassed Ripple to become the 4th most traded cryptocurrency. This is the same not-so-famous cryptocurrency that was trading at $0.40 a month ago and is trading at $4.28 as of 11/12/2017 (13:09 IST).
I have previously written about IOTA on Quora and have shared my views on this currency. Been following IOTA since the early 2017 and have remained optimistic about its future. There are many reasons why IOTA beats down Bitcoin, some primary reasons being:
- It's based on Tangle technology and not Blockchain -- here's a comparison between Tangle and Blockchain.
- It has no transaction fees.
- No 'mining' here. The concept makes each user a node.
- It can resist quantum computations. Something Bitcoin may not be able to do so.
- Structured community. We know the founder, we know where the team is based.
- IOTA eliminates the delays in transaction processing due to network stress -- something that's happening with Bitcoins.
IOTA is being developed with a vision to integrate it with Internet of Things (IoT). The IOTA foundation has partnered with the leading companies that are researching in the field of IOT including Microsoft, Cisco and Samsung to mention some.
This puts IOTA in a fruitful position since the corporates seem to trust the foundation running it, and the currency is aiming two evolving tech industries at once -- IoT and the cloud computing industry. As we move closer towards AI and other 'futuristic' technologies, cloud computing would become the base of these technologies.
So when it comes to IOTA, I don't see a bubble. Something that could blow up and take all my money down overnight. Rather, I see IOTA as a long-shot. It's definitely here to stay.
Is it the right time to buy some IOTA in?
First things first, this isn't an investment advise, just thoughts.
Prices can never be predicted for cryptocurrencies. This sudden rise from $0.40 to $4.28 happened after the IOTA foundation announced its partnership with Microsoft and other tech firms. This ensures that IOTA is building up real-world connections.
Anyways, how can you resist a currency that could give you a 1000% returns in a month?
Whether investing in or not, it's your decision to make. Just remember, only invest the amount you can afford to lose.