IOTA (MIOTA) continues to prove itself as the future of DLT technologies. Yesterday, Roman Semko posted on Twitter that in a simulated environment, IOTA tangle only takes 88 seconds to find consensus for 1 million transactions with 300 nodes.
While this is just a simulation, it goes to show the power of IOTA, and how far ahead it is compared to other projects. The ability to achieve 1 million transactions in just over 1 minute makes it perfectly suited for machine-to-machine communication since it means transactions happen almost instantaneously and at scale.
This is a sign that the IOTA team is hard at work in creating the perfect cryptocurrency. Sometime back, one member of the IOTA foundation stated that they are willing to do whatever it takes to make IOTA a success, and everything seems to be pointing in that direction. Lately, IOTA has been in the news for the depth of the partnerships it’s getting. For instance, it now has partnerships with Fujitsu, Volkswagen, and Audi. Tesla could be next.
If IOTA achieves what Roman was testing in a real-life environment, then it would pretty much gain a wider adoption across industries, and will have a head start against most blockchain projects. That’s because the biggest challenge that blockchain faces is that of scalability, as most projects have failed to operate optimally at scale. With a consensus rate of 1 million transactions per minute and improving, IOTA (MIOTA) stands the best chance of competing with centralized entities. Besides, it also has an extra advantage of cost, given that it is feeless, which makes it even more efficient.
For investors, this is an even bigger reason to invest in IOTA (MIOTA). It’s one of the few cryptocurrencies that have not only proven to be technically superior, but also one that has caught the eye of real-world business. Interestingly, all this is happening and the project is still in beta. Once it goes live, IOTA will have one of the most diverse use cases in crypto, and will be at the center of the new economy, that is increasingly anchored on automation.
Speaking of value, IOTA (MIOTA) is performing quite well today. It is up by over 5%, even as the rest of the market remains sluggish. That’s an indicator that the news of its scaling capabilities are being taken positively by the market. It’s without a doubt one of the most solid projects for long-term investors with a plan of 5 years and above. In 5 years, IOTA (MIOTA) will be fully developed and integrated in the global economy, something that will take its value to levels never seen before.