by Rushali 
The experts of the financial world have finally realized that there are many demerits in fiat currency. This realization has been proved to be true especially in this year when one pandemic has damaged the roots of the whole financial world. The next best alternative for fiat currency is digital currency.
In the year 2020, every country has started moving towards the digital currency way. Cryptocurrency is the best form of digital currency. As we all know cryptocurrency is based on blockchain technology. But same as everything else in the world blockchain also had many demerits. Fiat currencies demerits are fulfilled by cryptocurrencies and blockchain’s demerits are fulfilled by a new technology of distributed ledger.
It is a fact that blockchain has many advantages like security and speed of data transfer but when it comes to accessibility issues it has many problems. That’s the reason scientists have found a solution for this and invented distributed ledger technology. This technology fulfills almost all the demerits of blockchain technology and has some added advantages as well. Just like bitcoin, ethereum is based on blockchain technology, IOTA is based on distributed ledger technology.
This article will fully focus on all the possible details of this new technology and IOTA.
Introduction
IOTA is completely different from bitcoin and ethereum because its technology distributed ledger is different from the blockchain. It is proving to be the solution for scalability. IOTA’s main objective is to make lives more empowered and expeditious. It was launched in the year of 2015. And it was designed to enhance the money-to-money economy of the internet of things. The basic aim of IOTA is to guarantee an anytime-anywhere decentralized payment platform that provides data integration as well as full security to the users.
IOTA has broken the barriers of conventional methodologies of the transaction and offers innovative solutions for the future. Today IOTA features in the top-ranked choices of users who want to match pace with the progressive trends in trading. Many institutions across the world have emerged showing active interest to sign a partnership with IOTA.
Also Read : SushiSwap price prediction
Why it is better than any other cryptocurrency?
There are many challenges that are faced by cryptocurrencies based on blockchain and the main challenges were slower transaction speed and higher cost. These two problems have made the users very frustrated, they are paying high transaction costs but getting slow speed. IOTA had solved these two problems. It offers a much higher speed and low transaction cost. Users of IOTA have the advantage of fixed money and no inflationary charges. Just like bitcoin, IOTA also doesn’t have any intermediaries involved in the process.
IOTA works on a different ledger platform that is called Tangle which requires a minimum workload of calculations. Tangle ensures that users get the benefit of efficient data transfer that will make their transactions fast and obstacle-free.
Partnerships
As I mentioned earlier that there are many institutions that are partnering with IOTA. It is estimated that there would be 26 billion objects based on the technology of IOTA. The distributed ledger technology can solve real-age problems and its solutions are also based on real-life applications. That’s why the future of IOT is also very bright.
IOTA has collaborated with many big firms including Volkswagen to download software for its vehicles. The collaboration has invented Digital Carpass in 2019 where the company along with IOTA has made a system through which you can arrive at digital mileage. After Volkswagen, Porche has also collaborated with IOTA to make innovative solutions for their products.
Another collaboration of IOTA with Jaguar Land Rover has invented the Smart Wallet that facilitated the transfer of value and data. Other companies include Linux and Dell who are in talks with IOTA to enter into a concept of data confidence fabric for their data verification function. IOTA has totally invested itself in the cause of Data Processing and working on smart charging, crowdfunding, smart homes, space exploration, real-time data storage, smart grid functions.
IOT has launched its unit called MIOTA in which M stands for mega and it can be traded on all exchanges around the globe. It was launched in 2016, with 1 MIOTA equals 1,000,000 IOT. Through MIOTA, IOTA wants to enable micropayment transactions. MIOTA is still not a mainstream investment currency like bitcoin and ethereum.
Also Read : Uniswap price prediction
Future prediction
Today, IOTA is trading at $1.3. Experts believe in the next 5 years the price of IOTA may reach $12. The year 2020, was not good for this coin due to the pandemic but still, it managed itself and didn’t fall down massively. The future of IOTA is very strong, but it will not have a constant bull run. There are bull as well as bear runs in the future for IOTA.
- Price prediction for the year 2021
2021 will be a very positive year for IOTA. Its prices can reach on the moon with around 70% gain. Hopefully, the price will reach $4 by the end of the year.
- Price prediction for the year 2022
After 2021’s bull run in the year 2022, it can see some short-term correction. The price would be around $3.
- Price prediction for the year 2023-2025
If IOTA constantly performs just like it is performing today and more such partnerships happen then the price should reach $6. And as said earlier after 5 years from today the price of IOTA will touch $12.
We can conclude that the future is very bright for IOTA because of its new-age technology and ideas. With so many big partnerships we can surely predict that in the future IOTA’s price will skyrocket.
