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Reasons Why IOTA Holders Can Expect a Lucrative 2018

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IOTA
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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:

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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

Ripple XRP Mega Breakout: What’s Next?

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Ripple XRP mega breakout
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The Ripple XRP mega breakout that we were calling for happened and happened much quicker than anyone expected. As we said yesterday:

Nonetheless, IF, Ripple is capable of going ‘topside’ of the .38 figure at any point in the days/weeks ahead, such development, should it occur, would likely trigger its next advance into the .42 – .47 zone, representing a 30-40% move from present levels. On the flip-side, the .25 – .26 area should offer short-term potential support.

XRP is now sitting at .51704  as we write this article this morning, representing gains of 61% since we alerted our readers and our Global Elite email newsletter members.

Ripple XRP Mega Breakout

The Ripple XRP mega breakout is significant because it’s the first time XRP has been above its 50-day moving average since May. Right now, the RSI is approaching 80, so we are in overbought territory and we expect the price to consolidate around the .42 to .47 level before resuming its uptrend.

While some are looking at this as an opportunity to short XRP, we are not of that camp. While some can book some profits and use a trailing stop, any integration of XRP with xRapid has the ability to create a tremendous move in XRP. As Travis Kling said this week on the Off the Chain podcast with Anthony Pompliano, XRP could be the quickest five-bagger investors…

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Altcoins

Litecoin Cash (LCC): The potential mover?

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Litecoin Cash
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Litecoin underwent a hard fork in the past, and that is what led to the creation of Litecoin Cash. Bitcoin has also experienced a hard fork, which has led to the creation of Bitcoin Cash, so this trend is not necessarily brand new.

Forks have occurred pretty often now in the cryptocurrency community, and the perception is that it probably will continue to, as long as the need (forks are often created to overcome issues faced by the originals) remains there.

While the market has been bearish for most of the year, it has been showing some definite signs of life, especially when we look at the kind of price action that has been happening with Ripple recently. Litecoin is also rising in anticipating of its hard fork, which is to be expected.

For those who are unaware, Litecoin Cash was created earlier this year. 10 Litecoin Cash was given to every investor who had 1 Litecoin – and that one move, it’s easy to see, was very massive concerning value.

Charlie Lee, the founder of Litecoin, has come out against LiteCoin Cash, calling it a scam. Many cryptocurrency influencers have come out against Litecoin cash, although there are still others that believe that this is only because the project threatens them.

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Altcoins

The Stage is Set for Stellar XLM vs XRP

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XLM vs XRP
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The digital asset of XRP, did something spectacular on the 18th of September when it shocked the crypto-markets by rising in value by 21%. In a time period that was less than 5 hours, XRP spiked from levels of $0.273 to those of $0.332 and has continued rising. The digital asset is currently valued at $0.36.

xRapid Factor

The reason for the sharp increment in value of XRP was news that the Ripple company was going to launch xRapid in the next month or so. This was after the firm’s head of Regulatory relations for Asia-Pacific and the Middle East, Sagar Sarabhai, made the following comments during a CNBC interview on the 17th of September:

“I am very confident that in the next one month or so you will see some good news coming in where we launch the product live in production.”

Stellar’s Cross-Border Payments

The news of Ripple launching xRapid has come 2 weeks after the Stellar project and IBM, announced that they were entering the industry of cross-border payments through their new service known as IBM Blockchain World-Wire. The new payment settlement service has been quoted as being ‘near instant’ meaning that it will probably rival the transactions time seen in the xRapid pilot tests of 2 – 3 minutes earlier on in the year.

Stellar Acquiring Chain

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