Author: Tom Baivel
Publication date: 09/05/2024
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What is a cryptocurrency ?
Crypto-currency is a form of digital currency secured by cryptography and based on cryptographic technology. Unlike traditional currencies, it operates in a decentralized way, not requiring the intervention of a central authority such as a central bank. Transactions are recorded transparently and securely on the blockchain, often offering a certain level of anonymity and security.
Then what is an IOTA coin ?
IOTA, or MIOTA, means : Internet OF Things Application, it’s a cryptocurrency, a digital currency that is independent of banking networks and linked to an encryption system. There are thousands of cryptocurrencies like the IOTA. The most popular in the world is Bitcoin. Cryptocurrency is a decentralized digital medium of exchange, operating via a P2P (Peer-to-Peer) network and a transaction register called blockchain.
The history of the IOTA coin dates back to 2015, when the IOTA Foundation was created by David Sønstebø, Sergey Ivancheglo, Dominik Schiener and Serguei Popov. The initial goal was to develop a distributed ledger technology (DLT) specifically tailored to the Internet of Things (IoT).
What are the particularities of IOTA ?
IOTA is a decentralized platform designed for the Internet of Things (IoT), using Tangle, a distributed architecture based on a directed acyclic graph (DAG). Unlike blockchain, Tangle requires each transaction to validate two previous transactions, thus eliminating transaction fees and enabling secure, fast transactions on a large scale. IOTA aims to facilitate exchanges between IoT-connected devices, paving the way for innovative applications in sectors such as logistics, smart cities and connected health.
What are the predictions for 2024/2025 ?
As analysts consider the future of IOTA in 2024, a closer look reveals some intriguing forecasts. Market indicators suggest that IOTA is set to trade in the range of US$0.61475 and US$0.76922 by the end of 2024. The anticipated average cost is positioned around US$0.63997 for the whole of 2024, offering investors valuable information on potential future trends.
Embarking on a comprehensive analysis of IOTA's historical performance, crypto-currency experts project its cost for the year 2025. Projections indicate that IOTA should reach a minimum exchange value of US$0.73155, with the possibility of maximum peaks at US$1.0923. Consequently, the average forecast for the IOTA price in 2025 stands at an encouraging US$0.78716, reflecting a dynamic trajectory on the crypto-currency market.
What are the risks ?
IOTA, like any cryptocurrency, is subject to market volatility, competition, security risks and mass adoption challenges. Careful research into market strengths, weaknesses and trends is essential before investing. Diversifying your portfolio and investing prudently, risking only what you can afford to lose, are fundamental principles for crypto-currency investors.
So, is IOTA a good investment for Q2 2024 ?
Some investors may see IOTA as an attractive opportunity due to its potential in the Internet of Things (IoT) and technological innovations such as Tangle. However, others may be concerned about the volatility of the crypto-currency market and the associated risks, such as competition and adoption challenges. Potential investors are advised to carry out thorough research and consult financial experts before making an investment decision. IOTA is available for trading on Binance, sign up now and get a 100 USDT cashback voucher.
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