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

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IOTA

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

3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider…

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Altcoins

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

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Aluna.Social

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, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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