Apart from Bitcoin, there is also another altcoin that is in the news and is hitting new highs each day. Its IOTA, a crypto currency for the Internet of Things segment.
IOTA has hit $5.35 today and is still looking strong. Market value of IOTA is $13.7 billion with more than $319 million being traded in the last 24 hours.
IOTA’s ‘Tangle’ system allows for zero transaction fees , one of its biggest advantage over bitcoin. Since bitcoin transactions aren’t cheap at the moment, IOTA’s platform is suitable for data industry, for IoT platforms and for micro payments.
With the recent tie ups of IOTA foundation with Microsoft, Samsung and others, the concept looks promising, but as its still in nascent stage, investor should exercise caution before investing in IOTA.