IOTA Cryptocurrency Review - Tech Highlights, Price Prediction & Where to Buy IOT Tokens
This IOTA review continues my look at altcoin cryptos in more detail. In this review of the IOTA cryptocurrency (IOT) I will be sharing a bit on IOTA's technology/benefits at a glance, will give my thoughts on a IOTA price prediction and will also share where to buy the IOTA cryptocurrency.
The IOTA token coin features unique and potentially game-changing technology, a large and growing market cap, "infinite" scalablity and a very ambitious roadmap. All of these factors put IOTA as a "safe" altcoin, if a bit speculative.
IOTA Cryptocurrency at A Glance
From IOTA's (very cool!) website:
As the Internet-of-Things keep expanding, the need for interoperability and sharing of resources become a necessity. IOTA enables companies to explore new business-2-business models by making every technological resource a potential service to be traded on an open market in real time, with no fees.
IOTA's lofty stated aim is to serve as the backbone for the Internet-of-Things (IoT). If this is accomplished on a wide scale IOTA will be a major player for a long time to come.
IOTA Cryptocurrency Technology Highlights
Some of IOTA's highlights and benefits Include:
- The Tangle
- Micro-Transactions
- Data-Transfer
- Voting
- Scalability
- "Everything as a Service"
The Tangle
The Tangle is a blockless distributed ledger (ie, it does not use the blockchain). Rather, "consensus is no longer decoupled and instead an intrinsic part of the system." This leads to a self-regulating, decentralized P2P network.
Micro-Transactions
The Tangle architecture allows for micro- and even nano-transactions, a fact that opens up a plethora of applications that might not be possible with other coins.
Data-Transfer
A core feature of IOTA is the ability to pass data between devices through The Tangle. Further, the data is fully authenticated and tamper-proof.
Voting
As the graphic states, this possible application to e-voting is a highly unique (and compelling) use-case of IOTA.
Scalability
Here's a quote on IOTA's infinite scalability from iotasupport.com:
Since each transaction requires the sender to verify two other transactions on the Tangle, more transactions can be confirmed as the number of users sending them increases. This means that IOTA scales proportionally to the number of transactions ad infinitum.
Furthermore, IOTA provides its "next-generation ledger" that seeks to provide a platform to allow developers to develop many more use-cases.
How Many IOT Coins are There?
The supply of IOTA (IOT) tokens stands (and is capped) at 2.78 billion coins, a fact that accounts for its huge market capitalization (nearly $12 Billion USD and #10 in market cap of all coins at the time of writing). The significant supply of these should keep the price of IOT coins out of the stratosphere, at least in the short term...
IOT Price Prediction for 2018 and Beyond
IOTA (IOT) Price Chart from October 7, 2017 through January 7, 2018. Source: CoinGecko.com
At the time of writing, IOT is trading around 4.25, up nearly $4 from it's starting price in July 2017.
I truly believe that 2018 is going to be the year of the altcoin and as I mentioned in my previous cryptocurrency review posts, I believe most proven coins are going to experience big gains in 2018. ... My IOT target price for 2018 is $10. A price of $15 or more is not out of the question. However, as I just mentioned due to the large supply of IOT tokens, in my view the price should stay tempered and not rocket too high.
As with my other "safe" proven coins like Monero and Ripple and DASH, I see IOT as a long-term HODLas this coin has a lot of room to grow and great potential.
Where to Buy IOT Coins
How to buy IOTA (IOT)?. This altcoin is listed on a wide range of cryptocurrency exchanges in exchange for either Bitcoin (BTC) or Ethereum (ETH). I personally recommend that you buy and sell IOT and your other cryptocurrencies on Binance.
If you do not currently have any BTC or ETH, you will want to first purchase some on a site like Coinbase or my site of choice, Uphold. Once you have done that, you can then transfer your Bitcoin or Ethereum to Binance and then start trading it for IOTA tokens.
Obligatory Disclaimer
The recommendations contained in this IOTA crypto review are my personal opinions. I am not an investment advisor or professional. Cryptocurrency investing is risky and I urge you conduct extensive research when making your own investments.
More on IOTA
IOTA.org - Official website for IOTA
Binance - Where to buy IOTA! Currently, my #1 recommended cryptocurrency exchange.
More of my Altcoin Reviews
DASH Review
HIVE Review
Monero Review
Ripple Review
Your Thoughts on IOTA?
Thank you for reading and please leave your comments below. What do you think of IOTA, is this unique token here to stay?
If you enjoyed this IOTA review, please upvote, resteem and be sure to follow me for more altcoin reviews!
Tech wise, it is one of the best projects!
I agree with you there. In my reaearch for this article, I was really struck by how technologically awesome the IOTA project is.
En pocas palabras amigo Si no compras IOTA e un idiota.
Jajaja. Si, si en efecto ;)
Thanks for the post! I will follow you so I can catch more of them! Cheers!
Iota is a brand new and novel micro-transaction cryptotoken optimized for the Internet-of-Things (IoT). Unlike the complex and heavy blockchains of Bitcoin and the like, which were designed with other uses in mind, Iota is created to be as lightweight as possible, hence the name "Iota" with emphasis on the ‘IoT’ part.
The number of connected devices that will permeate our modern landscape in the coming decade is estimated to be 50 billion(!) Each of these are designed to make the world a better and more seamless place for us. Tied to this fantastic promise are of course a ton of obstacles to be overcome, of which one major one is micro-transactions. These connected IoT devices must be able to automatically pay miniscule amounts to one another in a frictionless manner without having to compromise on product design by introducing additional hardware. This is why Iota was conceived.
While it was developed as a solution to scalability issues faced in IoT, the underlying protocol is agnostic and can be applied in any other use-cases that utilize micro-transactions.
In order to achieve these audacious goals Iota’s design diverged radically from blockchain cryptocurrencies. It still retains the core principle ideas of the distributed consensus blockchain, but in order to be able to scale to the size of the coming Internet-of-Things ecosystem with tens of billions of devices that are connected to each other, it needed to be very lightweight and efficient. This problem is solved by Iota’s core innovation: the tangle.
IOTA is the future
I have a lot of iotas i hope it rises