Can IOTA's new instant Email payment feature help spur a price rebound after falling 23.21% this September?
Oct 02, 2018
- IOTA is a publicly distributed ledger geared towards being the permissionless backbone of the Internet of Things (IOT) that would enable true interoperability between all connected devices.
- IOTA utilizes their ‘Tangle’ technology to verify and scale their general ledger, which requires the sender of a transaction to conduct a form of proof of work on two previous transactions, effectively coupling the transaction making process with the validation process -- this effectively removes miners from the equation and creates a fully decentralized ledger.
- Tangle technology actually enables transaction speeds to increase as transaction volume and users increase. Tangle also eliminates the need to reward miners, meaning there are no transaction fees.
- IOTA was the worst performer in September among the top 25 cryptocurrencies by market capitalization with a September return of –23.21%. There was no real negative news surrounding IOTA in September – the coin was simply victim of a general selloff in cryptocurrencies this September.
- IOTA announced this weekend of a feature that enables users to conduct transactions simply by using their Email addresses through IOTA’s delion:api portal. Developers can also integrate this feature into their own applications to facilitate simplistic and instant payments through Emails.
- IOTA’s price suffered this September despite no real negative news related to the cryptocurrency. IOTA’s announcement this weekend of its new feature to facilitate instant payments simply through users’ Emails is a strong start to the October month -- will this put upward pressure on IOTA’s underperforming price?
- IOTA is trading at USD$0.55909 per token and is the 11th largest coin by market capitalization at the time of this writing.
IOTA 1-Year Price Chart