Iota (MIOTA) is one of the fundamentally strong cryptocurrencies. It is currently ranked at the 12th position when it comes to cryptocurrencies by market cap. As it actually integrates various devices with the help of the blockchain and provides the opportunity to scale up those devices and monetize the data, the application is certainly there. It is possible that in the coming few months, the value of iota (MIOTA) rises even higher. We will highlight some of the reasons for the same.
What are the reasons which could propel iota (MIOTA) higher?
The reason why it can head higher is because of the increasing innovation. Internet of things is becoming more and more common. The developed countries integrate more and more devices and sensors on the Internet. It enables you to control each and every device remotely. Iota (MIOTA) provides you with the ready infrastructure to connect those devices. Iota eliminates the need to build a centralized infrastructure. As a result, the popularity of iota (MIOTA) is increasing considerably.
Increasing user base:
It is not just the Fortune 500 companies which are tying up with iota (MIOTA). The actual user base is also consistently going up. With more end-users, the usage of the blockchain will increase significantly. The monetization of the data can happen only with the help of the cryptocurrency. That is why, ultimately is the end-users increase, the amount of data will increase in the monetization of the data will also increase. When that happens, the demand for the cryptocurrency will increase as well which will propel iota.
Moreover, with the help of its ledger technology known by the name of tangle, proper scalability can be achieved. It has been proven time and again that it is scalable. That is why there will be hardly any glitches with an increase in the user base.
Thus, if you have ignored iota (MIOTA) up until now, now is the time to keep it on your radar.