IOTA (MIOTA) has been on a rough track with the latest crisis in the market where MIOTA lost over -50% of its value during the course of the last two months. While all major currencies also went on a downfall, like IOTA did in the previous period, we can now see the majority of cryptos adapting to a new trend while bouncing off against the fiat.
With the latest change in the market, IOTA showed a bullish return through a rise of 10% against the fiat, while the team is going through substantial changes.
IOTA Foundation Exposed to Integral Changes
What came out as a rather controversial case of internal disagreements within IOTA foundation team, is said to be the direct reason for having MIOTA declining by over -30% in the course of the last two weeks.
Apparently, what started out as a quarrel between two integral team members behind IOTA, Dominik Schiener, and Sergey Ivancheglo, ended up in having Ivancheglo asking Dominik Schiener to resign at the beginning of the leaked chat, where Sergey Ivancheglo stated: “I inform everyone that I don’t longer trust Dominik Schiener and I think he should quit the IOTA Foundation for the better future of IOTA”
The internal fiasco that is said to have sent MIOTA straight into the market downfall has been resolved since the original announcement from the team back at the beginning of August, and as a result, Sergey Popov, as well as Sergey Ivancheglo has been brought to their own board seats.
Since the quarrel inside of the team IOTA, the foundation has brought more new faces to the team, heading towards new developments and updates. Coincidence or not, once the issues were resolved IOTA could see some improvements in the price, as we can see it going up by over 10% in a daily run on August 19th.
With the latest version, beta 1.0.0, Jakub Chech claims that anyone within the IOTA community can add changes and make new codes outside the internal team of IOTA developers.
Although the beta version is marked as complete, the team is planning on making new changes in the near future by creating a version 1.0.0, which will come with more improvements.
Chech is relying on the community feedback moreover announcing that some of the expected changes for the future version should include persistent storage interface and caching, integration of HTTP API tools with lighter infrastructure when compared to the current API, as well as performance improvements.
In the meanwhile, IOTA is finding multiple use cases for Tangle while having the three winning projects at the latest blockchain meetup in Munich all utilizing IOTA, showcasing different forms of adoption.
IOTA (MIOTA) and Tangle-as-a-Service
Thanks to the latest tests conducted by Delloite blockchain research, IOTA’s Tangle is showing a promising future for multiple use cases.
In accordance with the report provided by Delloite, the research showed that Tangle is different than any blockchain technology currently available in the market, further adding that they have come to a conclusion after an extensive research, that Tangle can make transacting of data and information near-feeless.
That is how Delloite made an integration with IOTA’s Tangle, presenting delion:api, the API tools that will enable developers to make transactions through receiving and sending, alongside being able to ignore special hardware requirements.
That is how Tangle-as-a-Service became a reality, showcasing the uniqueness of the technology behind IOTA.
IOTA in the Market
Although IOTA (MIOTA) lost over 37% in the course of the last two weeks, while losing over 50% of its value during the course of the last 60 days, we can see it finally rising up against the fiat by acquiring a jump in the value by over 11% at the end of August 19th.