Is IOTA Still ‘The New Bitcoin’ Or Things Have Changed?

When it hit the crypto market for the first time, IOTA was seen as ‘the new bitcoin’ and a potential replacement of the leading cryptocurrency. However, cryptocurrencies like IOTA are more and more present on the market and their fame is always accented with the comparison to Bitcoin.

The truth is…

IOTA has a great shot in becoming one of the best performing digital currencies in the next few years and this is only because it solves one major issue that Bitcoin can’t get rid of: transaction fees.

This absolutely means that more people are likely to be attracted to IOTA because of the ability to easily transfer money and because of its ability to solve real-life problems. This also means that retail companies and any other kind of companies can benefit from this.

The magic happens with the Tangle protocol which is also a distributed ledger technology similar to the blockchain one. In fact, the Tangle protocol was created so that it can be integrated into the Internet of Things.

IOTA is ideal just because of the transaction fees and ‘’infinite’’ scalability. Of course, that doesn’t mean that IOTA can replace Bitcoin totally because the market is so volatile and anything can happen, but it does have a strong future ahead.

That said, IOTA may certainly grow soon in terms of value and market cap. However, Bitcoin is ‘miles away’ from it which may be one reason to not be so optimistic about it.