A couple of days ago Iota was released in the trading platform Bitfinex. It quickly became one of the top 10 cyptocurrencies by market capitalization. This surprised many traders since it has been trading since June 14th. Why did it do so well? The reason is because of the amount of support the currency has and the technology involved with the currency. Iota is supported by Outlier Ventures a venture fund led by Jamie Burke. The technology that separates Iota from other cryptocurrencies is that doesn't use a blockchain to verify currency exchanges. Iota uses the Tangle protocol to accomplish the proof of exchange. This is done in a peer to peer basis using the resources of the computers involved with the exchange.
The developers claim that the transfer of currency is instant. This has led to the interest in the currency. The market capitalization in the first few days of this currency broke the record in money being pumped into the currency. This is surprising now only becomes it's a brand new currency but also because it's only being traded in one exchange which is Bitfinex. Well Iota crash and burn like other cryptocurrencies that had great starts but would later crash, a good example would be Lisk, only time will tell. It's obvious that big money is pumping the currency and it's possible that it's legit sources. Forbes wrote a story on Iota yesterday. A closer look though at Outlier Ventures shows us that the venture fund was made for cryptocurrencies. In other words this isn't some large funding group that is known for funding and making money from different sources. It's possible that it was set up for Iota. The man who runs iota Jamie Burke seems to have a resume of a consultant. So on the surface it looks like large venture fund is supporting the currency but in reality it's also a start up. Although it seems more legit than most and in fact the technology looks very innovative. There is a very good chance that this currency could be the next ethereum.
For full article click here: https://www.americanalttimes.com/single-post/2017/06/16/Iota-Coin-The-Cryptocurrency-Without-A-Blockchain
