What is IOTA and how does its co-founder envision the future

As Bitcoin and other large cryptocurrencies make daily headlines regarding their developments, one can quickly forget about other cryptocurrencies that have recently done very well in the market. For instance, IOTA which is currently a top twelve coin in terms of market cap and at a little under $4 billion capitalization. Unlike most cryptocurrencies, IOTA has a unique blockchain technology known as a tangle. Additionally, the coin boasts of zero transaction fees.

IOTA works on zero transaction fees which makes it a more attractive investment to many other coins. For an IOTA transaction to take place, the device must simply confirm two other transactions on the tangle network which is its own unique blockchain network on which it operates. Bitcoin, for example, has had many shortcomings in recent months given its very high transaction fees, something which is currently being worked on.

IOTA’s, Dominik’s first encounter with cryptocurrency was back in 2013 when he decided to invest in the business at the age of 17. A project which failed, and he later blamed it on banks as cryptocurrencies were attached to criminal activities like drugs back then.

Iota currently stands at a $4 billion market cap and number 12 coin in terms of market capitalization. As of press time, IOTA can be bought at $1.46 per coin and also has a max supply of 2.7 Million. It reached it’s all-time high in December when it was traded at $5.34 before correcting during the last global correction that affected the entire market.

Dominik is also very optimistic about the coin and believes the coin is heading towards “the next cycle of revolution” given its recent partnerships with the most significant being BOSCH a German household name recognised internationally.

What are your thoughts on the coin?

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