With most cryptocurrencies still in the dark, it is light for IOTA (MIOTA). The long awaited launch of their native Trinity wallet could give the coin the much anticipated boost. For the last five days, the coin has been gaining ground perhaps for the better for the long haul. There are several things that have happened around IOTA that are keeping investors excited.
The coin is solidifying its investment potential; bringing on board Dr. Rolf Werner from Fujitsu seems to strengthen its marketing arm and also Alexy Sobolev from Mobbizcorp, a software engineer are some of the pointers that the platform is focusing on infrastructure development and a clear cut route to market.
However, the most anticipated feature is the launch of the Trinity wallet which is already undergoing tests. This is desktop wallet will enable the multiple industry partners have other wallet options apart from the mobile version. Alex, for now will be in charge of optimizing the software function on the platform and product development.
IOTA (MIOTA) Price
With these new developments and new team members joining the IOTA (MIOTA) foundation, the spike in MIOTA price might not be short term. Things are looking up for the price since the Aril 7th spike. Just last week, the coin was trading at $0.93 and has been able to gain marginally to the current price of $1.57.
The new trend will see the coin trade above the $1 as more bulls are already staking on the coin. a gain of over 40% in the last seven days amid the turbulent market is a clear indication that the coin future is already cut out technically.
According to IOTA developer Navin Ramachandran,
“When this audit is complete we can move to a public beta test where everyone can try out the mobile wallet via the official app stores, without any special invitation. At this time, we will also release the full audit report and the complete source code for public review.”
A change in the declining trends after the changes initiated by the IOTA foundation could mean a price of $2 by the end of Q2. However, the bullish moment might not be all smooth after the launch of the Trinity wallet that will be a plus for the Tangle technology.
The Immediate IOTA (MIOTA) Plans
With a team of experts behind the blockchain and the introduction of the Trinity wallet, the platform seeks to unlock its full potential. The wallet is currently going through security auditing before being released live to the community for feedback.
Navin has already stated that the project has been slowed down by lack of a standard coding guide hence untimely updates to the community have been lacking. Once the tests are done and the App is up and running, a timeline will be able to be established.
In the next 6-7 weeks, the fate of the Trinity release will be known but there are hopes that it might come earlier than anticipated. Users are ready for a user friendly product that will offer them advanced security, better features and increased capabilities.
Once the mobile and desktop wallets are operational, the impact investor confidence will mean a further surge in the IOTA (MIOTA) price. Many enthusiasts have been sitting on the sidelines waiting for the release of the wallet.
This will give the investor a reason to smile after a violent selling period since mid- January. The Trinity wallet is set to deliver more than the traditional digital money wallets in the market today; it is more than just the IOTA “snapshot” functions, it will capture all transactions which is function missing from standards wallet.
When most people think about IOTA (MIOTA), the first thing that comes to mind is communication between devices. While this is exciting, it might come off as too futuristic for it give IOTA, the push it needs to grow in value in the short term. For instance, you don’t expect your fridge to start buying stuff on your behalf in the near future. We are a little bit far from that, at least from a mass market point of view. Could this be the reason why IOTA has dropped so much in the last three months? Was it overpriced, relative to its current market value? The answer is a big NO!
As a matter of fact, IOTA is one project that fits pretty well in the growing decentralized environment. To understand why, you need to look at the problems facing blockchain technology at the moment. One of the problems most blockchain projects have is that of transaction costs. Bitcoin, for example, has seen an increase in costs as its price increases. This is a problem that IOTA eliminates with its Tangle technology that allows for free transactions. This makes IOTA a great crypto for international payments in the decentralized environment.
IOTA (MIOTA) also handles the problem of speeds that faces many blockchain projects at the moment. Speed is critical if decentralization were to ever fully go mainstream, and on this front, IOTA is at the top. Together with a few blockchain projects, IOTA can handle millions of transactions per second, which makes it ripe of adoption as a global payment method.
IOTA also happens to solve one problem that blockchain technology has not fully tackled, and that’s the problem of quantum computers. Experts have postulated that blockchain based cryptos can be hacked by a quantum computer. Though these computers are yet to get refined, they are a serious threat to blockchain technology. IOTA by its very nature is designed to be quantum proof. This is a feature that makes IOTA the perfect currency in the cryptocurrency space. It’s fast, secure, and free.
So why has IOTA dropped so hard, going from highs of $5 to its current price of under $1? There are several factors to this. The first one is the perception that IOTA is meant for machine-to-machine communication, a technology that is a little bit far from going mass market. This perception has contributed significantly to IOTA’s drop, even though as we have seen above, it is not the only facet to IOTA.
The other factor that has driven IOTA (MIOTA) down is the overall drop in the crypto market. Most cryptos are down, with Bitcoin dropping from $20,000 to its current price of under $7000. This has played a role in pushing down IOTA. Once the overall market sentiment changes, IOTA’s fortunes will change too. It has all the characteristics of a crypto that can be used as currency, which is good for both its short-term and long-term value. There is a good chance that IOTA will head back to its recent highs of over $5, making its current price a great entry.
With newer cryptocurrencies riding on older generation coins’ goodwill, the current slump has exposed each player’s shortfalls individually. It is about time each concentrates on the recovery route through creating their hype. IOTA (MIOTA) is in the fore front to continue holding on to the green as it endeavors in remaining a challenger to the giant coins.
IOTA MIOTA) market resilience has baffled many and there are more in store that it intends to put in the market for more adoption and value addition. With the infrastructure already in place, adding more features and testing its capabilities seems to be the next frontier. Times are over when the focus was on the market leaders; any coin in the top 10 can turn tables and stand out from the crowd price notwithstanding.
IOTA (MIOTA) Short-Term Plans Trinity Wallet
Already IOTA (MIOTA) has established itself in the market and is moving to the next level, consumer satisfaction and improved experience. This is a block less system that uses Tangle technology that has its own shortfalls that need to be addressed in-house. It has to create its own hype to gain acceptance globally. With the development of Trinity wallet almost complete, this will be the game changer in the cryptocurrency market.
Trinity wallet is a new user friendly product that will be added to the system soon. This is a mobile wallet that will change how storing and transactions in cryptocurrencies works. The wallet has the support of the community and it will ease many problems when it comes to using the MIOTA tokens.
Having a mobile wallet and a desktop version is one way of increasing MIOTA uptake. According to the developer team, users will never have a dull moment when it comes to when and where to spend their digital coins. These two versions target the business users and the individual user on the go. Modern consumers are either using their home computers or smartphone and the wallet will stimulate usage once launched.
With increased features and enhances users experience capabilities, the trinity wallet will hit the market when the user is concerned about the security of their funds. However, the product is secure and migrating to the Alpha has proved it is a good product for the future.
Live Digital ID Testing by IOTA (MIOTA)
With the help of the Tangle technology, IOTA is moving a step further in their quest to create smart cities. Part of the partner cities like Taipei is digitalization of identification. This will help city management easy with a central data depository. The good news is that the Digital IDs project is underway.
Testing of the digital IDs is a culmination of an agreement between IOTA and Taipei City. The project will turn the city to a smart-city and make it more functional. Once complete, the project seeks to end the identity theft menace and enable the city serve its citizenry in a better way. The system immutability ensure date manipulation is a thing of the past; no more falsification of identities.
The project will enable ease in e-voting, securing important resident data and creation of a central point where data for healthcare, population management and government budgeting can easily be accessed. The Tangle supported date storage will be edited through consensus will remain authentic for small and large scale dissemination.
Lastly, IOTA is spreading its trading wings after being listed by Omoku. The deal makes it possible to convert your MIOTA tokens into the EURO. This paring will see IOTA presence start being felt in countries using EURO; however, this will also depend on how fast the new exchange will grow and spread to more countries.
With these developments, it is clear IOTA (MIOTA) is set to go it alone to create a niche where the giants are unable to pitch camp.by the end of the second quarter, MIOTA will be a coin to watch. A smooth implementation of their short term upgrades will move the MIOTA price from the current $0.95 to trade at $2 or more by close of quarter two.
After several months of development and a few delays, Trinity, IOTA’s digital wallet is on its way to launch to the public. It has been developed with both portable and desktop devices in mind and the delays experienced have been attributed to the complexity of the ground breaking permission less technology on which the platform is developed.
The system makes use of Tangle ledger, which unlike other ledgers used by many other cryptocurrencies, uses block less ledgers that are decentralized, scalable, lightweight and which for the first time enables for transactions to be executed absolutely free of charges. It also differs from traditional blockchain technology such that there is no mining and payments are therefore verified in parallel by the device from which the transaction originates. This technology also allows for small transactions, which would be impossible to make on other platforms that charge fees.
Despite being ready for the alpha test of the mobile platform on android and iOS devices by January this year, IOTA (MIOTA) decided to delay the release in order to further develop the safety and security features of the wallet to make it more reliable for the growing number of non-technical members joining its platform. As a product aimed at the smartphone devices, the wallet has also been exposed to the fluid app store regulatory environment in their efforts to get approval.
Another factor that has contributed to the delays was the decision to redesign certain areas of the technology in order to make it more flexible and enable developers work on a broad range of applications for its use. The platform is currently undergoing a safety audit led by ACCESSEC and a beta version is expected to be ready for release to the public within the next 2 months. Another audit shall then follow before the full release. These issues have caused delays but justifiably so as they are geared towards guaranteeing safety and security for the users.
Among the features anticipated in the IOTA wallet once the beta version is released is the ability to keep a record of the user’s transaction history which will significantly improve loading time. The wallet is also enabled for seed generation, encryption and storage, support for more than one seed within a single app, printing of paper wallet, conversion to and from a variety of fiat currencies, local and remote proof of work, price graphs to track the coin’s price movements, support for more languages among others. This is in addition to a number of updates already made to the wallet’s user interface for the mobile app and bug fixes.
Price analysis IOTA (MIOTA) is down 7.6% trading at 1.28 USD since trading begun today but is up 16% for the 7 day period to date. The coin with a market capitalization of just over 3.55 billion USD ranks 10th with about 2.78 billion units in circulation and the 1.377 billion USD worth of coins that exchanged hands over a 1 month period makes it the 24th most traded coin globally. IOTA is designed as a modular, decentralized, modular
and free platform allowing companies to monetize any technological resource by offering and trading their services directly to other businesses instantaneously in the open market.
The launch of the IOTA wallet with its broad range of features is expected to encourage more users onto the coin’s platform, something that is likely to help push the price of the coin higher moving into the future.