Currently, the IOTA price is somewhere below $2 with a massive potential for growth. However, not everyone is confident that growth will take place for the cryptocurrency. Below, we are listing some details about it.
IOTA is very similar to Bitcoin, being a public ledger which is focused on sharing information fast with minimal fees. Instead of using the blockchain technology,uses a different protocol called the Tangle. The Tangle is believed to resolve problems faster than the blockchain, although a lot of computing power is still needed to process them.
Last year was full of ups and downs for IOTA price given the fact that just a few moments after launch the currency’s total market cap was about $1.5 billion. Later that year a huge flaw was discovered in IOTA by MIT researchers. Though denying at first, the IOTA team later fixed the problem. We also could see how much volatile is IOTA in December when it grew from $1.50 to $5.01 just 6 days later. You can check the chartsThis brought to a lot of speculations and a call out for major concerns about this cryptocurrency.
At the beginning of this year, more correctly on January 19th, a lot of users lost their funds due to a cyber-attack.developers tried to put the blame on the users who relied on online generators to create seeds. Despite the fact that this may be true, this contributed to the fact that people started avoiding and disliking IOTA. Also, the place where users used to get their seeds is still online so it is possible the site got compromised by itself. We will see what the people behind IOTA have to say about this and what will happen with the currency in the future.
So, let’s hope the IOTA price rises in the future, right?
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