IOTA [Technical Analysis] Report!
Welcome back to my blog channel everyone,
Today, we're gonna to be viewing at a new player in the crypto world & some interesting chart analysis from a new technology called IOTA as it introduces "The Tangle System." Setting itself apart from other crypto currencies like Bitcoin & Ethereum, which are distributed through block-chain technology; IOTA, programmed in trinary code instead of binary will have an advantage & be distributed on a web like block-less ledger through what developers call "The Tangle".
PROS
-Decentralized (No central authority)
-Quantum proof (Highly Secure)
-No Transaction Fees (Most cryptos do: Btc, Eth, Eos)
-Unlimited Scale ability (Millions of transactions per Sec.)
-Machine-to-machine transactions (Acceleration to Artificial Intelligence)
-Light Weight (Completly spread)
-Self-regulating peer-to-peer network. (Smart contracts govern through code)
-Micro/ Nano transactions (Able to send $0.02 globally if desired with no fee)
-Data transferring (Large amounts of info, wealth,
-Voting (Voting power/ Quantum proof voting polls)
-Masked messaging (Anonymous: Lack of Identity)
"The main innovation behind IOTA is the Tangle, a revolutionary new block less distributed ledger which is scalable, lightweight and for the first time ever able to transfer value without any fees. Contrary to today’s Blockchains, consensus is no-longer decoupled but instead an intrinsic part of the system, leading to a decentralized and self-regulating peer-to-peer network" -Co-Founder of IOTA, David Sønstebø (Home Page)
IOTA is seeking to distribute wealth through a cashless society with no restrictions or fees. With all of IOTA's benefits & what it had to offer, I went ahead and pulled up some chart analysis with specific oscillators providing me evidence as to what direction the newly emerged technology seems to be heading in. Lets take a look at IOTA's full time-line.
When IOTA was first released, we saw a massive decline in price with red candle sticks all over the charts; however, a reverse in price change is technically near with the help of our Ichimoku clouds displaying positive green clouds for the middle of this week 24th to the 31st & maybe higher in the near future? Ichimoku Clouds are an indicator designed to tell you everything you need to know about a price trend, including its direction, momentum, dynamic support and resistance levels & even trade signals. The Japanese name—Ichimoku Kinko Hyo—means “one look or glance equilibrium chart. It's still uncertain as to what path the price is going in, but it is most certain that our current technology will grow faster and have to learn how to adapt & connect with surrounding devices for data transferring at zero cost.
When taking a closer look within the positive green Ichimoku clouds we see present now, its clear we have an increase in momentum, price change, volume, and strength. On the 15th of July 2017 IOTA was signaling a bounce back recovery from its lowest price yet of $0.14 to a 53% increase now a week later. I am truly convinced & expect this trend to continue and eventually surpass into the $1 range before the year ends. The fact that this technology can have machines and smart technologies communicate/ transfer data and receive payments with one another is absolutely mind blowing. Here is a good way of putting this technology into perspective. Imagine a world where our cars and homes are connected to data that cannot be tampered with or hacked from quantum computing, which I assume no ordinary person has laying around. Lets make some scenerios, perhaps you need to charge an electric vehicle near a populated area ,under IOTAS tangle network the electric pump would independently begin choosing where to generate its power from using smart contracts as it would then deliver you energy to your vehicle all done for elliminating excessive fees & security breaches. This is the type of security people are interested in. In a world where virtually everything will be connected to the web, IOTA is trying to solve micro payment issues, scale-ability, and cyber security all done through encryption within The Tangle. I'm convinced that IOTA is starting to progress itself into green territory on what seems to be a long term hold with slowly & weekly increases. The future is bright for this technology!
Patiently waiting for IOTA to rise...
I am not a financial adviser. I am only sharing my input & knowledge on what I analyse. We all should do research on our own with multiple points of views with evidence to back their claims. If I can motivate anyone to enter the crypto currency world I have done my job. Thanks for reading everyone, stay encrypted.
-RichIntel
If you'd like to read my previous blogs on EOS & Exodus adoption, Artificial intelligence, or Crypto currency news click on the links below.
https://steemit.com/cryptocurrencies/@richintel/petition-for-exodus-to-adopt-steem-crypto
https://steemit.com/cryptocurrencies/@richintel/crypto-bloodbath-why-is-ltc-so-quite
https://steemit.com/bitcoin/@richintel/crypto-currency-and-artificial-intelligence
If you want to learn more about IOTA check out these Source sites:
3.)https://www.worldcoinindex.com/coin/iota
4.)http://bitcoinist.com/iota-internet-things-without-blockchain/
