With the recent news of IOTA being listed on Bittrex and the following IOTA spike in price, we should start seeing the phrase, “When Bittrex?” in the chat rooms instead of the old “When Binance?” Although, moon boys beware, there is probably more to this story than just a simple listing.
Nothing should be considered investment or financial advice. Enjoy the ride.
IOTA Bear Market Results
At this point in the life time of IOTA, we can say that the bear market was not a good look on it. Although, it did not fall too far out of the main media channels or top assets in the industry which is good.
IOTA still took a huge hit over the past few years moving from a top 5 digital asset to being out of the top 20 digital assets all together. With the recent bump in the price of around 15%, it seema IOTA shot back into the top 18th position. The last recognizable jump apart from the market was with the launch of the Trinity wallet.
A decent spot for the long shot project landing back in the top 20 digital assets. Although, 2020 is mapping out to be one of the biggest years for the project yet.
IOTA 2020 Roadmap Upadte
A huge post was made all over social channels when IOTA finally released their updated 2020 roadmap.
The roadmap, to put it mildly, is huge. It addresses some of the major components we have been waiting for on the IOTA network like technology updates, node updates, rust implementations, Coordicide and more. Here is a little taste of some of the developments to come.
The first section is focusing on the update of the main IOTA technology stack in order for the network to be able to support real world applications. At the end of the updates, they are aiming to improve speed, scalability, and usability. In particular, the Mainnet Rust Node V0.1 will hopefully go live enabling further technological superiority over the competition. Here is a little discription about the Mainnet Rush Node:
A minimum implementation of the Rust node software called Bee, allowing you to connect it to other neighbors on the Mainnet. Bee enables users with very limited resources to participate in the IOTA network.– Iota Roadmap
The second focus of the platform will be User adoption. As stated by the CEO, in 2020 the IOTA team will start focusing heavily on marketing and tokenomics as well as development to help push exposure for the project. In particular, the team is looking to implement Trinity v2, their second update to the native wallet on the IOTA ecosystem. Here is a little bit about Trinity V2 from the roadmap:
Trinity v2 will be a step up in IOTA’s usability, bringing it on par with consumer-facing apps. It will become the human-facing entry point into the IOTA ecosystem and form an expandable open-source platform for third party developers to explore.– Iota Roadmap
The most anticipated update yet to date is Coordicide. Centralization is the main critique coming from other decentralized projects. Although, the centralized coordinator is what is currently holding the IOTA network together. With Coordicide, that support system is removed, and the IOTA network will finally be a decentralized top notch project. Hopefully, the team will finish the project in 2020 without further delays. Here is a list of some of the developments for Coordicide:
Finally, we the last interesting development happening on IOTA. The Qubic stack will be for audited smart contracts with an oracle layer. In addition, there will be an event-driven virtual machine for outsourced-processing for Internet of Things ecosystems. All of this will be on top of the Tangle protocol. In particular, the smart contract MVP will hopefully go live. This will enable developers to start experimenting on the tangle for testing for implementation POC purposes. Here is a little bit about the smart contract MVP:
A minimum viable smart contract layer for the IOTA protocol. This allows assemblies to be run by a finite committee of nodes and the result is stored as an immutable state on the Tangle. This is implemented as a proof of concept.– IOTA Roadmap
IOTA Bittrex Listing
Back to the recent price jumps. IOTA’s market cap has been suffering for the past 2 years. Comparably, IOTA has lost more market cap per Bitcoin value than the other top digital assets in the space. While every altcoin has been suffering, it seems IOTA took the hit harder than others.
After the recent listing, it is great to see some life still in the market side of the project. Although, if you believe in the technology, the prolonged bear cycle could enable some huge buying opportunities. Not financial advice, but the option is there for those available. Either way, IOTA is during league for the crypto industry, digital ecosystem, and decentralized world.