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Reasons Why IOTA Holders Can Expect a Lucrative 2018

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IOTA

IOTA is one of the newer cryptocurrencies on the market that has managed to perform exquisitely despite having numerous potential competitors. This currency was first introduced on June 13th of last year and since then it has been providing a veritably decent service to its holders spread across the globe. As far as the inherent properties are concerned, this digital currency is very different from the other cryptocurrency big guns like Bitcoin, Ethereum, and various other familiar cryptocurrencies. Unlike others, IOTA uses an innovative new technology known as The Tangle that allows the users to verify their previous two transactions without any interference from the miners.

Currently, there are more than eighteen hundred cryptocurrencies in the market that are traded around the world. Hence, the fierce competition to acquire a decent position in the market and retain it is quite imaginable. Since the major market maelstrom at the beginning of this year, a significant number of traders are inclining towards the slightly lesser known currencies like IOTA. Here, you would find out a few aspects about this coin elucidating the fact why it would be judicious to hold onto this coin this year.

The Technology behind IOTA:

IOTA was designed on the IOT or Internet-of-Things concept. The Internet-of-Things refers to everyday items such as accessories, clothes, vehicles, etc. provided with a computer capable of connecting them through the internet. While other cryptocurrencies provide a blockchain platform where miners or nodes usually verify the previous transactions block by block before approving and performing the current transaction, IOTA offers a platform where the users can verify their previous transactions by themselves. As a result, IOTA’s ecosystem offers a much more convenient and user-friendly interface to the traders. This sui generis technology is known as The Tangle.

The IOT concept coined by this cryptocurrency is the gateway to achieve complete decentralization as per previous speculations; this new technology continues to pique the interest of both new and experienced crypto-traders.

Competitive Advantages of Using IOTA:

The digital currency of IOTA comes with several irrefutable advantages for the traders including:

  • Faster Transaction Rates: On IOTA’s native platform traders can take advantage of an expeditious transaction system. Because of this currency’s ingenious transaction protocol, the confirmation time on IOTA platform is much less than other currencies like Bitcoin.
  • Micro-payment Facility: In regular blockchain networks, the transaction fee is usually set by the initiator of the transaction which makes it very difficult to keep track of the relatively smaller payment amount. In case of IOTA, the traders can take advantage of its unique ability to facilitate small payments in exchange for an insignificant or sometimes no transaction fee.
  • Incredible Scalability: In IOTA’s platform, the time taken between placing a transaction and its subsequent validation is nearly zero. Also, its processing module becomes faster with the increase in the number of transactions and subscribers.
  • Convenience and Security: IOTA blockchain eliminates the arduous process of mining a cryptocurrency by solving puzzles which makes it much more cost-effective over other digital coins like Bitcoin. The transaction fee on this blockchain is also fairly low compared to others. As the IOTA owner is given the leeway to verify his/her transaction by themselves, there is no chance of any fraudulent activity as well.

Recent IOTA Updates:

  • The Release of Trinity Mobile Wallet: On May 29th, 2018, IOTA development team announced the launching of this new user-friendly mobile wallet. Despite being a strictly community-driven project at the beginning, the IOTA foundation adopted Trinity in order to ensure the security of using this cryptocurrency to a bigger community. The wallet was subjected to two external reviews namely a security audit and a threat modelling exercise. The purpose of this review was to ensure the fact there are no bugs present in the wallet that can potentially vitiate the currency’s security. With this new wallet release, the IOTA blockchain system is likely to be more convenient to the traders.
  • Upcoming R&D Projects: On June 16th of this year, IOTA announced a few of their R&D goals. According to their statement, for the next few months, the development team will work on strengthening and ameliorating the network infrastructure, decentralization, recognizing the need for developer inclusion in case of DApps, formalizing and comprehending cryptographic techniques, and encouraging widespread usage of this coin.

The Current Situation of IOTA:

As of 26th June 2018, IOTA holds the ninth position on Coinmarketcap with a price nearly tantamount to $1 and a market capitalization of nearly 2.7 billion USD. Although the numbers are not exactly as good as it was in December last year, the IOTA price chart is currently stable at a decent rate.

Final Thoughts:  

IOTA was introduced in order to provide a solution to Bitcoin’s high transaction fee and less scalability. As a result, right from its inception, this coin has managed to grab the attention of potential traders around the world. With the recent and upcoming technical developments, this blockchain platform is likely to become even more efficient and user-friendly. Hence, it is safe to say that IOTA holders can expect a lucrative 2018 despite market volatility.

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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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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