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What is IOTA? Analysis and all you need to know

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A digital currency for the Internet of Things (IOT), IOTA is the new backbone of IOT, a scalable, decentralized, modular. IOTA analysis by coinnounce

What is IOTA? Analysis and all you need to know

A digital currency for the Internet of Things (IOT), IOTA is the new backbone of IOT, a scalable, decentralized, modular and no fees platform for Internet of Things to grow and flourish. Although still considered by a few as a lesser known digital currency, IOTA has made quite amark for itself and has even surpassed big names in the digital currency world like Ripple. IOTA is meant to be a digital currency for the exchange of data and information between machines equipped with sensors. These sensor equipped machines populate the entire scene of the Internet of Things. This would enable something that is called a paradigm shift to the Internet of Things. IOTA aims to establish a Ledger of Everything.

 

Recent market valuation for IOTA

IOTA is currently sitting at a make or break level. It is currently down to about $0.9723 which means that it has finally broken below the $1 mark. If it is eventually broken, IOTA would face a severe downside and is thus currently on critical support. It had made quite a wave a few months back by rising in value however, for quite some of the recent time, IOTA has been trading under a critical resistance for quite a while and is also facing a rising trendline. Accordingly, till the time IOTA is being traded below this line, the bias would always be to sell on the rise.

As already mentioned, IOTA is presently sitting on a critical support which looks like a long term deal and if this long term critical support is broken, it would be catastrophic and would definitely be most probably the end of this digital currency.

It is also important to note here that the current JAVA implementation of IOTA is in Beta stage and with further advancements and improvement there would be even more enhanced performance by it and there will be additional features that would enhance the ease of use of this platform.

The Internet of Things or the IOT market would hit the $470 billion mark by 2020 if experts are to be believed. This means that the prospects for IOTA would increase way up too. Over 3 million transactions have already been processed on the IOTA platform and to imagine the great deal of prospects for this digital currency with the Internet of Things industry rising with such a booming speed, there sure is something really revolutionary when the digital market is looked at at an IOTA angle. Although there is still a long way for the Internet of Things markets and companies to actually make a strong and steady stand in this world and actually making sensor equipped machines the future of the world, IOTA has been constantly bettering itself with more and more developments in the entire space and with every further positive step the IOT industry takes, IOTA as a digital currency for the Internet of Things would definitely not be far behind, one might as well say, that these two could actually become each other’s shadows in the long haul.

 

Tangle – IOTA Platform

IOTA runs on a new platform called Tangle. It makes use of a data structure known as the Directed Acyclic Graphs or DAGs. Owing to this graphical nature of the entire platform, Tangle basically has no blocks, no chains and thus no miners. The usage of this Tangle solves several issues which are traditionally faced with other digital currencies, like the issue of scalability and high transactional fee charges. The dual work of making a transaction and also validating them is both coupled since the sender is required to do a proof of work for the transaction which actually approves not one but both the transactions.

As a result, like in all other digital currencies where the transaction speed over the network decreases with an increased user base, with IOTA, Tangle enables for the transaction speed over the network to be increased with an increased user base. This means that on Tangle, transaction speed and a larger user base are actually directly proportional to each other and not inversely proportional like it usually is with every other digital currency on the market. This makes it a very characteristic kind of digital currency for the Internet of Things.

Moreover, since the proof of work is done by the sender side of the transaction itself, this proof of work is not required to be done by any miners and which virtually removes any fees to be paid. All these characteristic features have made IOTA a very promising thing of the future which would actually not require developments when the user base of IOTA expands further since it works better with its user base blossoming.

Along with this, Tangle also provides wide scalability features because of the ability to validate transactions parallely. Moreover, there is no limit to how many transactions can be confirmed in a given interval of time thus making it even more better than other digital currencies.

#Bitcoin

XRP is now #2 Cryptocurrency, Ripple overtook Ethereum

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XRP is now officially the #2 cryptocurrency in the world with over $2.4 Billion Market Cap. The recent increase in the market cap was due to the rapid surge in Ripple Price after the XRapid Launch news was published.

The market cap of Ripple is now $23555443, which just surpassed Ethereum’s market cap of $23367070

Bitcoin Market cap stands at #1 at $116228274

 

Ripple Price Rise

XRP  Price broke all the obstacles and went to a swift uptrend against both Bitcoin and US Dollar. With the surging price, the total market cap of the cryptocurrency also noticed an enormous hype making Ripple the #2 Cryptocurrency after Bitcoin; beating Ethereum on the Cryptocurrency Market Capitalization list. More and more banks are utilizing the Xcurrent platform including the recent adoption by PNC , USA’s top financial services group.

 

Ethereum Price Decay

The former #2 cryptocurrency Ethereum noticed a vast decay in the previous few weeks with the reasons starting from large OTC selling by ICO’s (Initial Coin Offerings) and the ethereum miners backing out saying that ‘Ethereum Mining is no more profitable’. Ethereum price dropped down from whooping $450 in August to $190 a few days back. This has resulted to a huge number of prominent investors and traders opting out of the Etheruem Cryptocurrency stating that Ethereum has no future now.

 

Can Ripple Maintain the #2 position now or will Ethereum take back revenge? What are your thoughts on the same? Tell us in the comments section below.

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#Tron Price Analysis

10 reasons why TRON TRX price can increase massively this year

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One of the biggest reason for Tron’s (TRX) massive increase in price is its continued growth with its fundamental strength. TRON price will increase.

What is TRON?

TRON is a decentralized platform based on Blockchain and aims to build a digital content sharing platform eventually leveraging peer to peer (p2p) blockchain system. TRON first founded by a non-profit Singapore based foundation, and this foundation is specifically seeking to distribute the global entertainment industry.

Presently, lots of user data and traffic managed by a few corporations like Google, Amazon, and Facebook & Snapchat. TRON creates some serious steps to control by placing ownership of the data back into the creator’s hands.

 

Features of TRON

There are some key features of TRON, given below

  • TRON wants to heal the Internet with its entertainment features.
  • Data liberation; free and uncontrolled data.
  • Content-enabled ecosystem, where users can obtain digital assets from content spreading.
  • Personal ICO with the ability to distribute digital assets.
  • Different infrastructure which allows distributing digital assets exchange (such as games) and marketing forecasting.

 

Advantages of TRON

TRON has the biggest advantage, is its good team of developers, advisers, and investors. It’s CEO is Justin Sun, who is the protégé of Jack Ma, the founder of the Alibaba group and other advantages the fact about data creators, which are the data ownership of central and also the users on the Tron network are entitled to proportional profits granted by rules. Tron has an idea to administrate free service platforms for the public. That’s why it is operated and designed to serve the masses that enjoy entertainment content around the world.

 

Reasons for the massive increase in the price of TRON

If you are having feelings like the heat just because of the price of TRON. Well, don’t be.  This is a right time to get yourself a bit rich with the massive increase in the price of Tron. That is because what is happening now in the market is that wide crash that has seen previously in all cryptos shed a good portion of their value, with bitcoin dropping below $7700. While everything else has risen again, Tron (TRX) is in an incredibly good position with its risen up again by even bigger margins.

 

Here are the reasons why TRX price could rise:

The Mainnet Launch

In the previous scenario, just a few months ago Tron was in deep fall and it was migrating from the Ethereum blockchain to its own blockchain. But besides all this, several major exchanges have announced to support for the Tron migration, indicating that this event will be a major success as it is a strong enough reason to get into Tron at today’s prices, which reap big once the main net goes live.

 

Tron’s Drawing more in developers

In the Tron (TRX) case, its success completely depends on the team which has been pushing hard to woo Ethereum developers to the project. Tron team has used airdrops and other rewards to achieve this end. Giving them those incentives are worthwhile and one can expect the faster completion of project milestones, which will serve to further drive up the price.

  • One of the biggest reason for Tron’s (TRX) massive increase in price is its continued growth with its fundamental strength.
  • The other important reason for the massive growth is because it led by an aggressive and ambitious leader. Justin Sun, the CEO of Tron, has not only overseen the fast-tracking of milestone deadlines, but he has also decided that he wants Tron to be a top 6 coin in crypto ranking.
  • It had been hovering in this position for the last few months, until a few deep altcoin drops of the last few weeks. TRON’s peak coin price will be again high as eight cents just in a short duration.
  • From the beginning and the new holders who recently have joined, It sees a movement of about $200 million each day, give or take, and this spread across the major trading coin out there.
  • According to the price predicting; fiat trading is still extremely unrepresented here. That means is going to have an enormous opportunity to crack more fiat selling with a massive increase in prices and growth parallel.
  • Tron’s strong & steady strength which makes it continuously moving and this is also the reason for a massive increase in the price of Tron.

 

Note: This article represents only the opinion of the writer. The article is not, in any way, an investment advise. All cryptocurrency investments are risky and you should do your own research and analysis before buying or selling any digital assets including TRX.

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#NEO

Is NEO Dead? Does it have a future?

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NEO has a 100% pre-mine as well as proof of stake model which allows users to derive additional coins in the form of GAS, by holding them in the wallet.

What is NEO?

NEO is a blockchain platform and cryptocurrency designed to build and scalable network of decentralized applications. The base asset of the NEO blockchain is non-divisible NEO token which generates GAS tokens it can be used to pay for transaction fees generated by applications on the network.

 

NEO is often called Ethereum of China

The reason behind is NEO is positioned as a “public cloud” and it’s a part of a bigger strategy by the Chinese government in establishing of pre-eminence as a Blockchain platform industry leader. They want developers should use their tools and platform and develop the ecosystem.

 

Features of NEO

Delegated Byzantine Fault Tolerance (DBFT) algorithm

This is a consensus mechanism (instead of the traditional proof of work/stake) that allows the system to resist and maintains consensus even if some nodes bare malicious intentions.

 

NeoX

This system is to create the ability and to execute and operate across various blockchain.

 

NEO Contract

It is for creating the mechanism with smart contracts seamlessly in scalable, high-performance environments and that integrates pre-existing codebases.

 

NeoFS

This is a service which allows decentralized storage (like peer-to-peer Dropbox).

 

NeoQ

A matrix-based cryptographic mechanism, which create problems and  that cannot be solved by quantum computers to ensuring being quantum proof.

 

Reasons why NEO has no future:

1. NEO has a 100% pre-mine as well as proof of stake model which allows users to derive additional coins in the form of GAS, by holding them in the wallet.

2. NEO distributed coins through a crowdfunding event which allowed people to invest but NEO still made money from the sale and this is not the right thing to do.

3. NEO is divided into two batches of 50-50 million and somewhere somehow it is going to affect its future in the crypto market.

4. NEOs fund releasing is in multiple forms and this cause market dumping with some of it affects price & morality.

5. It has seen NEO attract criticism from those who consider it not to be a true cryptocurrency as its lack of decentralization.

6. NEO was built on the very badly written code exposing the network to major vulnerabilities and that its consensus mechanism was not properly implemented.

7. There is a bug ‘deep in NEO’s peer-to-peer protocol.

8. Every blockchain has its technical problem to solve, and there is no reason why NEO can’t overcome its teething troubles and alleviate over-centralization concerns given time.

9. Communication is one of the strong points for any team, but in NEO, it muddles on silence, the dissenting voices are getting louder.

10. The other major issue affecting NEO is its main use, in present springboard for ICOs. These type of projects need to prove themselves by adding some real values and more usability for NEO ecosystem.

 

The article represents the opinion of the author and is not an investment advise. You are required to do your own research and analysis before taking any decision.

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