IOTA: This cryptocurrency is up 1,000% in a month
IOTA: This cryptocurrency is up 1,000% in a month. Bitcoin, undoubtedly the most talked about asset class today, has spurted over 1,500 per cent on a year-date-basis so far and over 115 per cent in the past one month.
Prices of IOTA surged 980 per cent to $4.14 on December 7, 2017 from $0.38 on November 7. The e-currency has surged over 180 per cent in December so far.
But a little known cryptocurrency has put to shame the meteoric rise in bitcoin. With a rally of astounding nearly 1,000 per cent in the past one month alone, IOTA is now the fourth biggest crytocurrency in terms of market capitalisation after bitcoin, ethereum and bitcoin cash.
According to coingecko.com, IOTA is a distributed ledger for the Internet of Things. The first ledger with microtransactions without fees as well as secure data transfer.
Announcement of partnership with major companies like Microsoft can be considered as one of the reasons for the recent surge in the prices of IOTA.
“We are excited to partner with IOTA foundation and proud to be associated with its new data marketplace initiative. This next generation technology will accelerate the connected, intelligent world and go beyond blockchain that will foster innovation real world solutions, applications and pilots for our customers,” Microsoft’s Omkar Naik ..
A cryptocurrency is a digital currency created and stored electronically. The supply of this currency is not determined by any central bank or authority and the network is completely decentralised.
IOTA was founded in 2015 by David Sønstebø, Sergey Ivancheglo, Dominik Schiener and Serguei Popov.