IOTA, I will be reading up on you, and so should you! P1 Exchange
Where did it come from? Why is it here? IOTA - Internet Of Things ?
IOTA hit me out of the blue, one day when I was refreshing the market caps, something flew higher than bitshares! What is it? Probably a long story, I'm still reading up on it, they are focusing on business but are trying to cover all fields, their team is big, their community might be too, their impact is unquestionable.
I will be doing a series on all things IOTA, I've been going over their Medium posts, it seems like the place to find some pieces, I'm sure there are details in heir newsletter, but there is a lot of information flying around anyways. So without Further ado, I give you the IOTA Exchange and some parts from their post about it. That answers why their cap flew off :) interest, speculation and exchanges :)
They claim they have no fees, but you should read up, 1% for withdrawals, everything is referral based it seems. So another Open Ledger, but with great graphics and hype behind it :) That sure sells :)
Let's check out the main points from their announcement post:
Another milestone is approaching. Ever since we publicly announced the IOTA project back in 2015 we have been bombarded with requests by thousands and thousands of people urging us to list IOTA on exchanges, to which our default response has always simply been: “When the technology is ready”. While we have always been happy to see the enthusiasm and confidence expressed by these people, IOTA is above all an open source project initiated for and entirely focused on enabling future applications, security, services, infrastructure, business models, governance structures and beyond.
When revolutionizing already revolutionizing technology (Blockchain), patience is more than just a virtue, it’s a prerequisite to succeeding.
With that being said, exchanges and the market plays a pivotal role in realizing the ambitions of the IOTA project, it strengthens the value and liquidity of iota tokens, which is necessary for the Machine Economy to function, and it also opens the doors of IOTA to a whole new audience…
For thousands of people this is the first encounter with IOTA, to those we extend a warm welcome. The technology is now sufficiently matured to the point we are confident that we can go on exchanges and welcome thousands of new users. This marks the beginning of a new and exciting chapter in this book we as a community are collectively penning. That being said, IOTA is still going to go through iterations and optimization in the following weeks and months until the core protocol is ready for standardization and prime time deployment in the real world on a large scale. Perfection takes time.
So that's it, great marketing material, big team, and lots of information made easily digestible, so people eat it up.
I will be looking forward to learning more about them and their project, so far I've seen the team, and some of the technology, I'd like to see the premise behind and share that with you.
So what do you think?
- Had you heard about it?
- Does a Machine 2 Machine "ledger"chain sound nice? (They don't want to be a blockchain, which sounds good on scalability, reminds me of EOS, you don't have to run all he sidechains)
- Would you trade some MIOTS ?
- Are you interested in the future, digital smart grid?
- How about autonomous cars? Are we getting there yet?
Comments will be rewarded :)
almost forgot about the link :) https://blog.iota.org/exchange-launch-2d38c654349a
I will be posting, somehow I have to make due on a few threads I'm looking up on, next up a talk on Communication. But it will be some time since I have to review all of the material and weave a narrative :)
Cheers :) steem ON! :)
Whoa, I don't even fully understand the concept. Is it a token designed to facilitate... things? Like, helping my random objects around the house communicate with each other?
If I want a smart toaster, how does a blockchain token help? Trying to grasp this.
I have to do some more reading, the impression it left me was that they are building a smart infrastructure, more for energy, transportation and agriculture, business, I hope you get the idea, but I'm still just reading up on it and that's the layman's explanation. Maybe smart neighbourhoods, but smart toaster grids sounds a bit of a stretch. I think they will leave the small infrastructures for the smart housing business, I'm sure someone can use their principles to achieve a more user-friendly smart house, where your toaster could tell you he's out of bread and the corner store only has let's say white-flour varieties :D for instance, but that's just my musing :)
IOTA is a very interesting piece of technology! I´m watching it for quite a while now. The first days were a little turbulent on bitfinex and today with the FED decision. Lets see what the next days are up to and maybe then arrives the time to invest.
I'm so out of that loop you hit me with a bomb :D I'm barely stepping into exchanges and FED is something I'm fed up with :D
the company seems to be promising and the technological concept sound good in this time of heavy congestion of some blockchain platforms, it could make the difference for some investors.
I think it will, I haven't read up everything they have put out, bu I will watch some videos, and maybe in a week's time we would get acquainted with the project :) It's been around since 2015 so they have most built up already, if I was to compare it to steemit, and we are still in beta for a while, at least before communities and community tokens release(speculating). IOTA is in early alpha, their exchange just opened, 3 days ago :) their full capabilities are still to be tested and their systems and technology adapted :)
it was a surprise for me to see it on bitfinex who only trade major coins, and not on bittrex or polo, i take it like a good sign, let us know if you find more :) i stay tuned:)