While going up 50% and breaking $3 at it's highest point while all other cyptos are stagnant, Iota is starting to draw a lot of attention to itself. Here's why I think Iota may become the next bitcoin. Please let me you your opinions in the comments as well!
Iota uses the Tangle rather than blockchain so there are no miners to pay!
For a simplistic explanation of the tangle vs blokchain I'm going to quote Reddit user hallucinoglyph.
"Blockchains are dependent on miners. Miners want to get paid. The more network congestion, the higher the fees to ensure your place in the block to get that transaction confirmed. So blockchains bottleneck with this scalability issue that slows the network and results in higher transaction fees.
The Tangle doesn’t have blocks, so it doesn’t have miners, so it doesn’t have a bottleneck. Each transaction confirms two previous transactions, so the more transactions are floating around, the more likely your transaction is to get confirmed very quickly, and with no fees. So literally the opposite of the blockchain’s scalability issue :)"
This coin is designed for micro-payments between "Internet of Things" items. For example Iota could be used for a robot vacuum to pay a drone to fly it to another location. A car could also use it to pay for gas. etc. It also enables communication between both parties.
Multiple partnerships have already been announced with HUGE companies including Microsoft, Cisco, Samsung, Volkswagen, and many others. This means that the coin is already starting to be used for it's intended use rather than a pump and dump coin like a lot of other altcoins.
Although this coin is pushing $3 now I predict it will fall back down to the $2.20-$2.50 range which will be a great time to buy. Iota right now could very well be Ethereum at $15 or Bitcoin at $500. Iota currently has the 5th largest market cap in the crypto world and it is still very young. Of course, do your own research before dropping money into anything but, I see this coin doing great things.
