The brand new, eagerly anticipated IOTA Ecosystem has finally been launched, it’s implications for the IOTA network and the IOTA currency are pretty clear as the value of IOTA has shot up since the initial IOTA Ecosystem announcement.
At the time of writing, IOTA is valued at $2.11 and is up an impressive 10.48%.
In anticipation for this launch, last week we saw IOTA hit $2.20, after some slight correction which saw IOTA decline to $1.84, it now seems that with the ecosystem live, IOTA is back on track for surpassing it’s April high, possibly moving up towards its all time high of just over $5.00. As the IOTA ecosystem grows, could we see IOTA hit $6.00?
Of course, there is a way to go before we see such figures, and realistically, we would need to see a market-wide boom occur to ease IOTA on its way. With another bull run
appearing more likely by the day however, let’s not write off the possibility of IOTA reaching $6.00 just yet.
What is the IOTA Ecosystem?
The IOTA Ecosystem aims to build the future of decentralised technologies
. Within the ecosystem, developers can share their ideas and then receive funding from the IOTA Ecosystem Development Fund which in turn, can help nurture fantastic ideas into real world applications.
The ecosystem has been developed to establish a community of developers and business minds all of whom have the ability to contribute to the IOTA network. Through the ecosystem, contributors are able to meet likeminded people and actively turn their ideas and concepts into reality. Backed by the development fund, all developers are offered financial support and incentives which in turn, aims to contribute to the wider IOTA network.
You can read more about the IOTA Ecosystem, here- http://ecosystem.iota.org/
This network has really cool implications. It is allowing people to get involved within blockchain
development, providing they have the ideas and skills to do so. By allowing people to meet new people, ideas are able to flourish, meaning the entire IOTA network will become a hub for idea generation. By providing the funding element, the IOTA Ecosystem is giving people the opportunity to get involved, regardless of their financial situation. Often, it is difficult to run projects and set up your ideas if you don’t have the financial backing from the outset. With the IOTA Ecosystem, this is no longer an issue.
As this ecosystem expands and grows, we should see IOTA benefit as a currency. For now, hold on and let’s see how this effects the wider IOTA market.
Featured Image Original Source: Pixabay