IOTA is a crypto coin, established in 2015 and designed for the Internet of Things (IOT). There are many examples of IOT on the market, with the most common being the Amazon Echo. IOT differs from Bitcoin and Ethereum by using Tangle instead of Blockchain and doesn’t face any scalability issues due to its high transaction speeds which increase as the number of IOTA users increases.
The industry surrounding the IOT is expected to grow hugely in years to come due to technology advancements and a growing desire for internet connected devices. It is estimated that B2B spending on IOT alone will reach over $267 billion by 2020.
If a cryptocurrency linked to IOT follows the same trend, we suggest that this coin has huge potential. This potential is magnified if we compare it to established blockchain coins. Blockchain currencies are known to be struggling with scalability, and high rates of transaction fees are putting off new investors, also causing existing investors to withdraw their money. However, IOTA has neither of these issues.
Tangle allows for infinite scalability, as the processing speeds of IOTA increase as the number of users increases. Equally, IOTA charges users and investors no transaction fees at all on its network, something with is basically unheard of throughout the cryptocurrency market.
As such, our experts suggest that IOTA is set to skyrocket, not only due to its scalability potentials and it’s lack of transaction fees, but also the fact that it presents a very viable alternative to existing cryptocurrencies, while also running on a superior technology.
If we combined this with the potential future of the IOT, and assume that IOTA will follow this trend, IOTA may well be an excellent investment for 2018 and beyond.