IOTA Co-Founder: the Coin Will “Definitely Be Among Top 3 Cryptos in 2018”

2017 was a great year for IOTA. After the announcement of plans to build a working relationship with over forty participants - including Microsoft, Volkswagen and Fujitsu - in November, the value of a single token IOTA jumped from around $ 0.70 to over $ 5.30.

IOTA was created in 2015 by David Sønstebø, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov.

What is next for IOTA in 2018?

Let's start with where things are. The main point in this case is that the IOTA network is large enough to support itself. This means that at this early stage of development, where the network is still growing and more players are joining, it is prone to targeted attacks. For this, a coordinator is needed to help the system understand which transactions are valid and which transactions are not.

"So that is still decentralized, yet validation but still has this special unit, which mainly act as training wheels. This allows the network to grow to protect against attacks with double consumption and what we do in the moment is that we start gradually excluding the coordinator so that the network becomes self-sustaining, "commented Dominik.

In the future, when the coordinator is completely excluded from the equation, the network will become fully decentralized and will have many branches that will be interrelated. There will be interoperability between them and will achieve a dynamic scale.

At the moment it's all in the test period. Over the past 6 months, a UCL portfolio is being built that will be much better and reliable for users to use.

"I have always said that IOTA has the potential to be the backbone of the machine economy that really justifies the larg market capitalization of digital currency. In my opinion, IOTA will definitely be top three by the end of 2018.

What is the main difference between IOTA, Ripple, Ethereum

What they did from Ripple and Ethereum was that they were rellocating part of the tokens put into circulation for themselves. The founders of Ripple detained 35% of the coins, Ethereum's holdings were about 70%.

When IOTA was created, 100% of the tokens were put into circulation, so even creators had to buy at ICO, thus initiating the project.

This is also the basis of the IOTA non-profit foundation. To participate in it - you need to invest. CryptoLoggers have invested around 5% of total supply.

For this reason, Robert Bosch Venture Capital also invested in IOTA tokens at the end of last year. The very system of the digital currency has the most honest distribution.

For the other cryptocurrencies, the fact that creators hold such a large percentage of the tokens in circulation turns everything into a pump and dump scheme. This is why IOTA is better than other projects.

Source: Finance Magnates

Jr Trader Alexander Kumanov

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