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

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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

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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Altcoins

SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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