In the past 3 months IOTA (MIOTA) has been more or less stagnant. When you look at the price movement, there has not been much activity. Sure enough, it went down in between but that is just about it. It recovered its entire losses as well. On a three-month basis, it is trading down by just 5%. It clearly indicates that there is not much action when it comes to price movement. On the other hand, when you look at the fundamentals, there have been significant developments. In spite of the stagnation in price, the fundamentals are constantly improving as well. We will today highlight some of the fundamental improvements in IOTA (MIOTA).
What is working for IOTA (MIOTA)?
IoT or Internet of things is gaining more and more traction. Iota (MIOTA) offers a ready-made solution for IoT. The tangle algorithm of IOTA (MIOTA) is perfect for Scaling up IoT. That is why, the underlying shift from normal devices to smart devices is certainly benefiting IOTA (MIOTA). The blockchain solution which it has developed in the form of tangle is a ready-made solution for the companies to integrate the IoT devices with it. That is one of the main reasons why it is gaining such a significant amount of traction. Moreover, all over the world governments and authorities are developing smart cities. Smart cities require complete connectivity including that of the devices.
Many countries are looking to make the electric grid smarter. With the help of the data collected by the electric grids, prediction of the energy generation can be easily calculated. It will ensure that proper energy predictions are drawn out on a national basis. The electric grids are becoming smarter and smarter as well. Iota (MIOTA) can help do the same. ElaadNL is an example of a company building such a great. It is using IOTA (MIOTA) to develop of autonomous grid. The self balancing grid will ensure that proper power is supplied to all the stakeholders. With such corporate tieups, the credibility of IOTA (MIOTA) will increase further.
Hurdles facing IOTA (MIOTA):
There are a few hurdles facing IOTA (MIOTA). Security is the primary concern among them. The problem with this is that it features every device on the network, it is susceptible to hacking. While the tangle algorithm by IOTA (MIOTA) reduces some security risk but they are not entirely absent. Owing to this very reason, the traction is somewhat limited. Once it is able to prove that the algorithm which is entirely secure, the traction can increase significantly. That is why, the traction which IOTA (MIOTA) gets will be dependent on the kind of security which it can provide.
So, in spite of the lackluster price movement in IOTA (MIOTA), on the ground a lot has been happening. The fundamentals of the cryptocurrency on the blockchain are consistently improving. Instead of just ignoring this cryptocurrency thinking that it is not a worthy option, this type to monitor the fundamentals more closely before you take the investment decision.