Project Update: IOTA (MIOTA): Internet-of-Things. Tangle. Ledger of Things.

published on August 2, 2020

Hello district applicants and welcome to this project update for a yota so today is 4th of August 2019 and as always thank you very much for watching I do hope this video will be useful indeed so first of all some basic information about iota what it is and what it stands

For so I otter stands for Internet of Things application and it is a crypto technology that facilitates transactions between devices on the Internet of Things network now what is Internet of Things it is a concept of connecting any

Device in the household moving on and off switch to the Internet and this way you can make them talk to each other communicate on a giant network now all of that requires a different approach and as I might add Bitcoin any serious

Blockchain technology to function IATA uses something called the tango at the tangle itself make use of directed acyclic graphs daj now what exactly is that so the system or individual nodes linked to each other

Directed means that the link between nodes always have a direction and a cyclic means that you cannot create loops inside this structure now what does that mean there are no minors so every time someone makes a transaction

He represents two different transactions through work done by the divisor for example if it's on the phone the phone will do a little bit of proof of work and as a result that and other transactions will be confirmed as well

Now all of that means there is no transactions fees which is one of the main things about yota and also very fast almost instant transactions now the data can also be fully encrypted and authenticated now Miyata is the actual

Token on the network which is used as a transfer of value and data as well now some of the recent years about iota this is an update video so first of all currently the network isn't really centralized and it is using something

Called coordinator now the team is removing that through something called called aside and they're constantly update and progress on their blog posts how they are exactly doing with that and to help with the progress they actually

Prepared a five million in funds to contribute towards the cordis I related research obviously this is very big deal for the project and once it is truly decentralized it is where I will be taking to the next step now recently it

Has developed a telecom infrastructure asset so things like mobile towers for example marketplace where they selected participants Orange Vodafone Nokia inverses and that's basically a proof of concept developed by iota again if you

Want more about that more information about that feel free to check the blog post now the other has partnered is pretty Mora T where they were using free eyeverify platform non-priority and if I'm reading it correctly customers which

Are food manufacturers can collect accurate information related to the manufacturing chains so this is quite similar to or for what for example V chain is doing now when talking about we change just like with V chain

Partnerships of the mind driving force behind iota so I ordered us have a lot of very significant partnerships and partnership that has been going on for quite a while now so first of all there's a first public data marketplace

On an Internet of Things distributed ledger which they worked with Microsoft's microphones is not an official partner but they're still working very closely on that with iota then the chief digital officer of

Volkswagen has joined the iota foundation supervisory board and this is in charge of the process of implementing the digital technology so that's a partnership will be W than the Bosch currently they have a large involvement

With iota and estimate a number of almost 16 billion devices will be connected to the Internet of Things by 2020 then there's a partnership with Fujitsu where they show cast at Hanover in a

Tango based system they will be rolled out in fugitive augsburg smart kind of butcher that sentence but basically the devices from Fujitsu will be using iota and then there is DMV North Partnership which is

A Financial Group and partnership will focus on formulating new business models data privacy management system is actually pretty significant company as well even though it's not that well known as the remaining ones so

Partnerships are obviously the main driving force before Iota and as long as they can implement iota in their devices or solutions then there's really no doubt that there will be use cases for this system then in terms of the actual

Tokens availability in price iota is currently available on all the main exchanges not the most of the volume is some hit B to C but it's a very bad exchange do not use it if you do wanna buy a out the balance is the best but

Also listed them things like who will be global dragon X BitFenix and few more exchanges what bindings is the best choice now Bitcoin is the most popular pairing also pain with tether Assyrian balance coin bit coin cash in few fiat

Currencies as well so again you do have a little bit of a choice there current price is around 28 cents with iota being ranked on 19th in market capitalization and the market cap of 802 million us dollars now all of the tokens are in

Circulation so unlike with majority of other projects that supply will not be increased which is very important because that will not increase the market cap based purely on more tokens being introduced which is obviously bad

For the price talking about the price well iota is not doing well and actually suffered greatly due to better markets as an example here the whole time high was was achieved on 19th of December turn 17 and that was $5 69 cents which

Compared to the current price is actually quite ridiculous how much iota decreased in price which leads me to the last point which I do want to make and how iota is actually so first of all the biggest step for

Iota is making it truly decentralized which would prove that the network can actually work without central authority this is absolutely crucial the partnerships are certainly there so I'm not worried about the potential use

Cases especially if we look at the competition of iota which there is not much competition there are a few of the projects go Toyota is by far the most popular one by far the most valuable one and by far the man the one with most

Partnerships in that regard now price history something we definitely need to look at and we can see that out of all the top 20 projects iota is actually one that lost most of the value yes I did check it top 20 projects since the bull

Market and it I oughta is the one that suffered the most this proves a good buying opportunity if you do believe the project has actually a bright future in the partnerships we are certainly very significant can

Actually result in real life usage I personally think a lot of top 20 projects are worse and how it easily put iota and topped maybe eight or seven in terms of what it should be worth now does that mean other projects are

Overvalued of or IOLTA under rugged other up to you I personally do hold a small amount of iota since I do like the projects I do have few bigger holdings which I think have higher chance of succeeding but I

Still think at the current price a little bag of iota it's only a good choice not a financial advice but in my opinion if you look at what it has done what is doing and what's the actual potential I do think the current

Valuation is not really justified just my opinion though let me know what you think in the comments below and as always subscribe for more I still love you Church and bye

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