Below is the data of IOTA Charts and it is quite obvious that this welcoming mid-week trading has taken over the cryptocurrency market.
In the last 24-hours, one of the leading coins which is standing high above all other coins is IOTA as its price skyrocketed by 16.50 percent as shown with the green line.
Needless to say, there have been different attempts by MIOTA/USD to over $2.10 or just above $2.00. However, they didn’t had success and ended on first day of May with quite a speedy dip on the market.
Despite the speedy drop in price, it took a vertical climb above and cleared the important resistance of $2.00.
This has opened new ways of more gain in the upcoming days which will definitely form a higher trading ground.
On Wednesday morning, IOTA Foundation, which is a Berlin-based company behind the whole IOTA technology announced the launch of IOTA ecosystem platform on their Twitter account.
“With a global community of developers, entrepreneurs, corporate executives, government officials, philanthropists, hobbyists, and general enthusiasts contributing to the IOTA project, the IOTA Ecosystem is a platform for this community to meet, collaborate, learn, inspire, develop and build.”
The aim of this new website is to encourage and stimulate any further development of the project.
According to Ethereum World News, “Tangle is the data structure behind a new and novel micro-transaction cryptotoken optimized for the Internet-of-Things (IoT) called, appropriately enough, “IOTA.’ Very different from complex blockchains that are dealing with their era-issues, Tangle was designed to reach the level and the size of the Internet-of-Things ecosystem with tens of billions of devices connected to each other which was required to be supported by the system.”
The co-founder of IOTA, Sergey Ivancheglo posted anonymously as “Come-From-Beyond” and wrote the following on the Blockchain Forum:
“The number of connected devices that will permeate our modern landscape in the coming decade is estimated to be 50 billion(!) Each of these are designed to make the world a better and more seamless place for us. Tied to this fantastic promise are of course a ton of obstacles to be overcome, of which one major one is micro-transactions. These connected IoT devices must be able to automatically pay miniscule amounts to one another in a frictionless manner without having to compromise on product design by introducing additional hardware. This is why IOTA was conceived.”
Miners won’t have to complete the transactions as this new network is designed in such a way that whenever a new transaction takes place, it gets confirmed by the next one which is present which in turn confirms two prior itself being requested.