IOTA (MIOTA): The battle of supremacy is ripe in the world of blockchain and cryptocurrencies in general. Bitcoin has led the race for the past decade as the pioneer and largest cryptocurrency in the field. However, the rise of other blockchains (Ethereum as blockchain 2.0, Cardano as blockchain 3.0 and recently the start of blockchain 4.0) has given the godfather of cryptocurrencies a scare in supremacy.
As cryptocurrency investors and enthusiasts continue to search for the next gem in the industry, we focus on one of the most technological improvements in the field; IOTA, token symbol MIOTA. Is it the blockchain that will overpower the rest into submission and take up Bitcoin’s top position in the near future?
Bitcoin’s fall to glory?
In the introductory point of this article it is clear to see the increasing developments made in the world of blockchains since the advent of Bitcoin. The Satoshi-inspired coin has held the position of the most powerful piece of trade in the field for a better part of a decade but it seems the power is shifting. Bitcoin has for the past few years seen its dominance in the market drop significantly from over 90% in 2013 to slightly less than 40% today.
The increase in number of coins has been on the forefront for the drop in dominance but the problems facing the blockchain have also played a big role in shifting the adoption to better blockchains. The slow transactions, lack of scalability, expensive fees and overconsumption of energy in mining (as explained by most experts) have caused a massive shift in adoption from the pioneer cryptocurrency.
IOTA’s throne to take
It’s by no mean feat that a blockchain that was barely existent in concept at the time of Bitcoin’s rise is currently positioning itself as