Connect with us

Blogs

IOTA (MIOTA) Makes it into the Auto Industry: Here’s Why

Published

on

IOTA
READ LATER - DOWNLOAD THIS POST AS PDF

IOTA is finally trading in the green while going up against the dollar as the market is finally showing some improvement. As of the latest change in the last 2 hours, the majority of currencies are going up, while MIOTA makes no exception. However, we are more interested in the list of all the partnerships IOTA has acquired during the previous period, realizing that all of the sealed partnership were actually strategic. So, after getting its own IOTA charging station for electric vehicles in the Netherlands a couple of weeks ago IOTA is now working on new goals.

IOTA and the Auto Industry

Going above TRON during the massive rebound in April, IOTA has reached the spot of the 9th-best currency in accordance with global coin ranking list and due to its market capitalization. During its rebound, IOTA even managed to have its first IOTA charging station for electric vehicles set up for active operation in the Netherlands, which contributed to the mass adoption and showcased one of the real-life purposes that match the technological capabilities of MIOTA’s network, Tangle.

However, this is not the end of the story of mass adoption and real-life use of decentralized ecosystems, as IOTA has made some remarkable partnership in the previous period, that way making its strategic move towards its next plan.

Having been partnered up with companies like Volkswagen and Porsche, which are both automotive magnums, IOTA is making room for having its technology reaching the industry of automotive and electric vehicles.

With Tangle, IOTA has a plan to enable easy and simple, cost-effective connectivity between machines, creating decentralized machine-to-machine communication which would be driven by MIOTA.

In this case scenario, machine-to-machine communication model would serve the purpose of connecting your vehicle to your computing system in order to achieve better driving performance and get the most out of your vehicle.

That way, IOTA can create decentralized applications that serve the purpose of preventing car crashes and accidents on the road, simply and easily by using the technological capabilities of Tangle, which is a superb and fast decentralized ecosystem, although with a different infrastructure when compared to other platforms.

With Tangle, IOTA goes beyond traditionally known blockchain- based platforms but makes up for its own industry while being connected to the Internet of Things, considering it the future model of business ventures and industry collusion.

IOTA, partnered up with massive auto companies, can even establish a transfer system that would serve the purpose of paying for different services and products, all through your vehicle.

This could be easily done with Tangle, given the fact that IOTA can successfully perform machine-to-machine communication, which is probably the main reason why these auto giants were interested in partnering up with IOTA in the first place.

Besides from Porsche, Volkswagen, and IOTA, 30 more companies related to the auto industry have joined the movement called Mobility Open Blockchain Initiative (Mobi), with the purpose of presenting connectivity resolutions for machine-to-machine communication in the auto industry, all supported by Tangle.

This alliance could most probably sky-rocket IOTA while presenting it to its real-life purpose.

How is IOTA doing at the Current Moment?

April was pretty benevolent to MIOTA as this currency managed to acquire a pretty smooth rebound, while it also launched first crypto charging station for electric vehicles and sealing very important partnerships within the auto industry.

With May 13th, the market trend also seems to be changing as we can see the majority of currencies moving up.

Holding onto the spot of the 9th-best currency, MIOTA is also going up against the dollar today while trading in the green.

Following the latest change in the market after a week-long trend of plummeting, MIOTA has gone up by 4.43% against the dollar in the last 24 hours.

In addition to collecting gains against this fiat currency, MIOTA is also going up against Bitcoin, while trading in the green and rising up by 2.40% against this crypto.

After the latest change in the market, MIOTA can now be traded at the price of 1.91$ per one unit. With this pace of growth, it is realistic to expect to see MIOTA reaching and breaking through the value of 2$ per one unit in the following days. However, this case might be postponed in case the market turns sluggish again.

IOTA made its record price of around 5.20$ per one unit back at the end of December of 2017 when it was predicted that the current year of 2018 would be THE year for cryptocurrencies, which isn’t far from the truth if you take a close look at how far certain assets have gone.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Blogs

Understanding the Uses of Different Types Of Cryptocurrencies

Published

on

cryptocurrencies
READ LATER - DOWNLOAD THIS POST AS PDF

Cryptocurrencies – a term which has become incredibly prominent in the mainstream media during recent years due to the proliferation of Bitcoin millionaires. As a result, the new form of currency has earned an almost infamous status. However, as with any major step forward, there is still much confusion regarding the use of cryptocurrencies, what different types of innovative electronic cash exist and what they might mean for the future.

We’re putting all of this to rest as we explain what each of the leading cryptocurrencies can do.

Bitcoin

The most popular form of cryptocurrency, Bitcoin was first thought up in 2008 by the elusive and still unknown creator, Satoshi Nakamoto, who published the whitepaper online.

It took almost a decade for the cryptocurrency to reach its peak, but in December 2017 a single Bitcoin roughly exchanged for the price of $17,000, meaning anyone who held a substantial amount of the electronic cash became significantly wealthy.

In its early years, the cryptocurrency was strictly used as an alternative for cash transactions, and predominantly for trading goods and services. However as it has increased in popularity, its range of uses has also widened, now deployed for a variety of purposes including acting as collateral for investments at merchant banks, a direct debit for subscriptions services and most notably for sports betting.

Ripple

Bitcoin’s closest source of competition, Ripple was founded…

Continue Reading

Blogs

New DoJ Ruling May Cripple Gambling dApps

Published

on

gambling dApps
READ LATER - DOWNLOAD THIS POST AS PDF

A new decision made by the US Justice Department has expanded restrictions regarding online gambling in the US affecting gambling dApps. While the Federal Wire Act of 1961 prohibited online gambling regarding sports since 2011, the new decision expanded on this, and it now includes all forms of internet gambling. Unfortunately for many, this now also includes cryptocurrencies.

The new decision came due to considerable difficulties when it comes to guaranteeing that only interstate betting will take place and that payments will not be routed via different states.

The new announcement was explained in a 23-page-long opinion issued by the Department of Justice’s legal team, which pointed out that the 2011 decision misinterpreted the law. According to that decision, transferring funds was to be considered a violation, but data transfers were not included. By exploiting this oversight, it was possible for gamblers to turn to internet gambling. Unsurprisingly, many have realized this early on, including startups, as well as large, established firms. This, of course, also included cryptocurrency companies as well.

The new decision changes what is allowed online

The decision to include all forms of internet gambling is a massive hit in the…

Continue Reading

Blogs

7 Steps to Recovery from a Crypto Trading Loss

Published

on

crypto trading loss
READ LATER - DOWNLOAD THIS POST AS PDF

Whether you are a newcomer to the crypto market who mistakenly invested a large amount into the wrong coin, or a professional that made a well-researched decision and something still went wrong, the result it the same — you lost your money to the crypto market. This is a big problem, but also a problem that every crypto trader faces at some point.

The reason may be anything, from simple bad luck to the lack of research. Add to that the fact that the crypto market continues to be extremely volatile, and it is clear that not all of your trades are going to end up successfully.

Whatever the reason is, the fact remains that you experienced a loss and that this is a problem which can affect more than your funds. It can also affect your mind and feelings. Since every successful trade that you have the potential to make in the future depends on you, you have to recover first, and only then should you worry about the funds.

The road to recovery is different for everyone, and it will take a different amount of time and effort. However, there are a few general steps that you can take to recover from a crypto trading loss.

Step 1: Stop and calm down

You have just suffered a major loss. It may have been your mistake, or…

Continue Reading

Elite