4 IOTA (MIOTA) Tech Trends To Boost Your Confidence Over Fraud
IOTA (MIOTA) was once regarded as Bitcoin’s biggest competitor. Evidently, big digital currency firms are striving to get a more significant share. As a result of the cutthroat competition, we get quality.
IOTA promised to increase interoperability, which means that its investors can exchange it like nobody’s business. The most exciting thing is that the Internet of Things has an intelligent ledger system.
This system settles transactions with zero fees. As a result, more investors consider this option.
However, the currency has had big hits and misses. Before diving headlong into investing in this coin, please consider IOTA’s latest news.
- Wallet Security – Surprisingly, IOTA community lost $4 million to a single attacker. It is an untold story. Users complained of hanging systems, double transaction fees, and mysterious loss of cash. The company responded and confirmed “The IOTA technology is secure”. It was a phishing scam that affected users who used online generators to create their seeds. According to cryptocurrency strategists, investors are the greatest enemies of themselves. For instance, using online key generators is risky than generating your private key.
All in all, it is common to see fraud cases in the cryptocurrency world.
- A New Version Proposal – In a white paper submitted by Dr. Zohar Aviv of The Hebrew University in Israel, the scholar proposed a new technology called BlockDAG. For this case, IOTA (MIOTA) will not run on the everyday Blockchain technology. Instead, it will run on BlockDAG. IOTA already runs on BlockDAG. The BlockDAG technology has myriads of advantages. With BlockDAG on board, users can do fast transactions and improve security. The technology will also increase the value of IOTA. Dr. Zohar explained.
- The Flash Hackathon Contest – In late 2017, IOTA coin launched a challenge. The central theme was for its community to come up with projects that can transact at high frequency. The results were promising. On Feb 4, 2018, it announced top five winners. In the fifth place, BitBounti came up with a technology to protect personal data. On the other hand, FogNet took the first place by developing a restricted environment to exchange data for instant payments. All these adoptions should give you a reason to smile.
- Partnership – The company sealed a deal with Taiwan, one of the biggest countries in Asia. Since Taiwan wanted to become a digital city, the authorities saw the need for digital currencies. This partnership will help The IOTA Foundation enhance productivity. In reality, Taiwan was impressed with the Tangle identification Technology, an invention from the IOTA Foundation. From this partnership, there will be no identification problems and impersonation, which leads to fraud.
Do you think IOTA (MIOTA) is worth investing? Definitely, it is. The coin is capable of reaching infinite possibilities. You can do offline transactions, at zero transaction costs. It is a small coin but can generate a lot of profits. These are the tech trends that should boost your confidence over fraud claims.