In the ever-increasing world of cryptocurrency, IOTA is just one the thousands of existing cryptocurrencies that you may find. Currently, one of the top 10 cryptocurrencies, with a huge market cap and a great potential, the IOTA is believed to be the future of cryptocurrency. This has grabbed the attention of many investors who are now investing in this high potential cryptocurrency, and you should, too, invest in this cryptocurrency. This is why you must know about the IOTA price predictions in order to know if it’s a good investment for you. Before we start off, let’s at first get a clear idea of IOTA.
What is IOTA?
IOTA coins are a cryptocurrency that combines the Internet of Things (IoT) and the blockchain technology. The IOTA blockchains let transactions to take place between IoT devices internally, which will help in the adoption of IoT devices globally. The distinguished system of IoT and IOTA enables the users to make the IOTA transactions for free!
This has made IOTA one of the top 10 cryptocurrencies. The slogan for IOTA is ‘The backbone of IoT us here!’. This is, truly, proving to be a reality!
Advantages of the IOTA technology
There are a few advantages that uphold the IOTA technology into the top 10 cryptocurrencies in the world. Let’s look at a few of them:
- IOTA has developed its own technology for powering the transactions made into the system. This technology is known as Tangle and has a peer-to-peer connection, which is essential for the high efficiency and free transactions made in the platform.
- The payment will take place only after the originator of the transactions have confirmed the previous two transactions. This means that you’d not need any transaction fees. The verifications are spread all throughout the network and all of the networks are tangled with peer-to-peer connections, hence explaining the name ‘Tangle.’
- Due to the fact that there’s no transaction fee whatsoever, IOTA has no scalability problem. This also makes the growth of this technology exponential. For a high-speed network, it will require many people to work at once mainly because two of the transactions need to be confirmed to get one transaction verified. This makes the IOTA technology a highly reliable one.
How is IOTA different?
There are some fundamental differences between the IOTA technology and other cryptocurrencies in the cryptoverse. The main difference is the operating system of IOTA. To compare, let’s take the ever-popular Bitcoin as an example.
For a starter, Bitcoin can be mined while IOTA can’t be mined. This is a huge difference, as this ensures the flexibility and guarantee of the price of IOTA. Bitcoin miners can mine the coins in sequential units – called blocks on the blockchain. This adds a layer of restriction of the number of transactions that can be processed in each block, which eventually leads to slower transaction times and often clogs the network when there are too many transactions in the queue.
As for IOTA, the architecture is totally different. First off, you can’t mine IOTA. This makes the network a lot secured. IOTA also requires the originator to approve 2 previous transactions in order to verify the transaction. This negates any transaction fees and the transaction originator is supposed to incentivize the processing of the two previous transactions to verify the transaction.
If the network of IOTA grows at the subsequent manner, it will scale faster and many transactions will get verified at a much quicker rate.
The Future of IOTA
Up until now, we’ve seen why IOTA has great potential in the near future. It connects IoT devices and lets transactions to take place between devices. Using Tangle technology, it ensures a reliable peer-to-peer connection while making the transactions completely free of charge. This shows the potential of this wonderful technology. But, what’s the future of IOTA What are the IOTA price predictions for the upcoming years Are these sustainable in the long run Let’s find out!
For any cryptocurrency to thrive in the market, these need to be reliable in order to be accepted globally. As for IOTA, the trends recently have seen steady growth and acceptance by the global market. This is mainly due to the Tangle technology and the potential of it connecting the IoT devices into one streamlined connection.
As of May 2018, IOTA had a total market capitalization of just around $4 billion USD! At that time, the total IOTA coins in different IOTA wallets were about 2.77 billion. This shows the huge acceptance of this unique and reliable cryptocurrency.
Coinswitch.co has posted a statistic posted. It showed the price of IOTA during May of 2018 was just around $1.72 USD per token. Just a year back in June 2017, the IOTA coins were trading at just $0.25 USD per token. This shows that it has grown nearly 7 times from the previous price.
As the people can’t mine IOTA coins. The IOTA price grows at a stable rate, unlike the Bitcoin. This makes the future IOTA price predictions a lot easier. Still, in the development stages, IOTA certainly ensures an interesting future. It has achieved all of the objectives posted by the currency and has the potential to dominate the cryptoverse market.
Many predict that there will be more than one billion objects that will connect with the IoT technology. And this number will constantly rise. This is a huge market that IOTA will be targeting. Let’s now look into the IOTA price predictions 2018 and beyond!
The price of MIOTA (1 million IOTA) as of October 2018 is $ 0.5683006245, which is a -0.41% decrease from the previous 24-hour statistics. Each Bitcoin fetches about 11473.67545900 MIOTA. The market cap is now $ 1,579,608,796 with the 24 hour volume being $ 17,233,254. There are 2,779,530,283 MIOTAs circulating in the cryptoverse now.
IOTA price prediction 2019
In a year, the price of MIOTA will jump from $ 0.5683006245 to just around $10.41 USD in late 2019. This will be a +1,730.00% increase in the valuation of IOTA. The price is, however, is to be higher mainly because of the global acceptance of IoT devices.
IOTA price prediction 2020
According to longforecast.com, the IOTA coin price prediction states that the price of MIOTA will jump from the current valuation of just around $ 0.5683006245 to $15.13 by the end of 2020. If this happens, this will be a +2,560.00% increase in the valuation of IOTA’s price.
At the same time, other sources provide us with more positive information. Many people expect that IOTA will become a preferable platform for machine-to-machine transactions. Thanks to zero transaction fee. It’s the main reason why most Blockchain users can switch to IOTA, which, in its turn, will make the market cap rise.
IOTA price prediction 2025
The future growth prospect of IOTA seems very interesting. And many people claimed that this will soon outcast Bitcoin in the cryptoverse. Through interactive speculation, many believe that within seven years (in 2025) the IOTA will reach a value of $38. Google. On the other hand, forecasted that the price of IOTA would reach a value of $47 by 2025.
For the internet users at Quora.com, they are skeptical about the progress and supposedly think that it will reach a threshold of $22. Having partnered with Cisco, Samsung, Bosch, and Volkswagen, the IOTA team is now expanding the circle of investors and partners to enhance the predictions towards a penultimate goal – exceeding $50 by 2025!
Factors that can affect the predictions
While we are uncertain about the predictions, there are certain factors that impact the predictions. These work as a benefit to the IOTA ecosystem and these are
- A broad spectrum of uses (from online payments to public transport)
- No transaction fee and high speeds ensuring high scalability
- IOTA coins are low in supply
- Huge growth potential mainly because of the booming IoT industry
- Tangle systems are efficient and ensure free transactions
- Increasing global acceptance for IOTA and MIOTA
IOTA is the future of the crypto verse. It has huge growth potential and can grab the booming IoT industry. Having a secure and free peer-to-peer system for transactions, the IOTA is very reliable. This ensures the global acceptance for this cryptocurrency.
In contrast to Bitcoin, the IOTA can’t be mined in the blockchain, meaning that the price of IOTA is stable and constantly in the rise. The Tangle technology enables its users to verify the 2 previous transactions in order to get another transaction to take place, which means that the users will perform their own transactions. This ensures a centralized system which requires no transaction fee whatsoever.
The huge increase in the price of IOTA in the near future is inevitable, and there are several IOTA price predictions by many top officials and tech companies. The demand will rise steadily. And it will soon cover the whole of the IoT market. The backbone of IoT is here, why not invest in it and make yourself a fortune