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IOTA (MIOTA) Pending Update Might Bring Huge Gains in Days to Come

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IOTA
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The crypto space is erupting once again, and if popular predictions are correct — the growth is only starting. However, in the vast sea of altcoins that hold the massive potential to go big in the future, we would like to set IOTA aside as one of the coins that might blow up quite soon.

As always, there are no guarantees of this, as the crypto space still lacks regulations, and remains highly volatile. To see proof of this, all you need to do is look at Bitcoin, which goes up by $1,000 within a day, only to slowly drop by $700 in the following week, and then repeat the process. In other words, there is still a lot of uncertainty regarding any project, and that includes IOTA.

However, even with all of that in mind, many are quite optimistic about this particular project, especially after a recent announcement. The announcement in question indicates that IOTA is about to see a massive upgrade. In most cases, this would be more than enough of a reason to expect the coin to start performing better. But, in IOTA’s case, this is nearly a guarantee that it will.

The update is believed to carry a lot of fixes for a lot of problems that traders and investors have been reporting for a while. No crypto is perfect, and since IOTA is not a typical cryptocurrency, it is even more vulnerable to oversights and flaws that might make coin holders’ lives difficult. However, don’t let that scare you off — the developers have been keeping an eye on complaints and issues, and were working hard to deliver an update that will fix most, if not all of the ones reported so far.

It will also address IOTA’s road to full decentralization, allowing it to make massive progress towards achieving this goal. This would make it one of the most decentralized projects on the market, as many other coins still struggle with achieving this crypto dream.

Details about IOTA’s new update

The new update is known as the Coordicide Solution, and according to IOTA’s announcement, it will solve the project’s coordinator issues. The coordinator is the system that is keeping IOTA’s network, known as Tangle, safe and secure.

IOTA explains that each transaction needs either PoW or a small amount of bandwidth. Meanwhile, the network is being secured through a communitive through output. In other words, the more transactions the network sees, the greater its security becomes. There are other security measures as well, including checkpoints, which were present since the network’s launch.

However, its coordinator issues transactions in the same way as any node, with the single difference being the fact that it signs the location, meaning that it needs to reveal it first. Other nodes are, therefore, advised not to consider transactions confirmed before it is processed by the coordinator.

Obviously, this makes the coordinator a vital part of the IOTA network. However, in order to confirm that the transaction is valid, the coordinator needs to expose transaction locations. This is something that the new update aims to change. IOTA plans to remove the coordinator and become fully decentralized while bringing increased scalability at the same time.

Users would get a greater amount of freedom to create a system that would satisfy their needs, and IOTA would make a major step in the right direction.

How will the update impact IOTA?

IOTA is already quite a well-known and popular project. Its unique design makes it a perfect choice for the IoT, as well as for carmakers who wish to partner up with a system that would be able to deliver car system updates remotely. Now, the project will make a huge step towards decentralization as well, which is likely to attract new developers and set IOTA in the center of the attention.

Furthermore, the change will make IOTA even better for the IoT, which is moving past the traditional internet, in search of a more effective network. IOTA already had great potential to be that replacement, and now, this potential is going to skyrocket even further.

Its network is also quite interesting for many companies and businesses which are looking to upgrade their tech. With IOTA’s network allowing everyone to shape it in order to suit their own needs, the demand for it is likely to surge as well. Of course, most of it remains theoretical, as we have yet to see what will Coordicide actually allow. However, it will greatly expand the possibilities, and make the current ones even better, which will bring massive amounts of success to the project, as well as to MIOTA cryptocurrency.

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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.

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Altcoins

Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social
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When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve,…

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CoinFlip Scores Big with BRD Wallet Partnership

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CoinFlip
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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Can Libra help the crypto industry to reach new heights?

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Libra is motivated and determined to change the face of payment procedures across the globe and make the blockchain-based project the leaders of payments.
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The market for cryptocurrencies started with the launch of Bitcoin in 2009, and since then, so many cryptocurrencies have been launched that it gets hard to keep track of them. The crypto market has seen massive growth in the past 3-4 years as it started gaining attention from mass media, which helped in this boom.

From the past 2-3 years, several new cryptocurrency projects were launching in the market. Amid all this, the social media giant – Facebook announced the launch of their cryptocurrency platform, and this news got viral like wildfire. The announcement came forward in June, and the upcoming cryptocurrency is known as Libra, and it’ll come with its dedicated wallet called Calibra.

What is Libra?

Libra is a permissioned blockchain-based digital currency which is being developed under the supervision of Facebook’s vice president, David A. Marcus. The cryptocurrency is under development in partnership with an independent, non-profit member Libra Association. Facebook is the second member of the project, and these companies aim to use Facebook’s user base for the promotion of the digital currency when it is launched. The transactions and the cryptocurrency will be managed and cryptographically entrusted by the Libra Association.

Note: Libra Association was established by Facebook to look after the cryptocurrency and the transactions, and it was founded in Geneva, Switzerland.

The development of…

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