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Fernando Palmer

IOTA

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Hi Fernando, thanks for posting this question.

I just had a brief look at IOTA and it seems that they are doing quite well recently. The chart tells me that the price action is trading well above the record low of $0.08 made in the mid-March as the coin now trades 150% higher from these levels. 

A break above $0.22 would open the door for a trip to $0.30, which is a key resistance for the buyers in the short-term.

Elsewhere, IOTA Foundation has been selected by the German Federal Ministry as a finalist in the competition to develop innovative tech solutions to help fight the coronavirus outbreak. 

“Our goal is to build on existing digital solutions and to refine and scale them with partners – across countries and sectors. The Hackathon is intended to adapt proven solutions locally and to promote innovations that provide digital help directly on the spot,” the Ministry said in a statement.


 

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Hi Fernando, thanks for coming here.

Price of IOTA (MIOTA/USD) has advanced almost 10% recently following the collapse of the crypto market in March. Additionally, the IOTA Foundation has been selected by the German Federal Ministry as one of the finalists in the competition to work on new technology that will help battle the COVID-19 pandemic. 

The competition named “The Smart Development Hack” happened on May 14 and May 15. The event had a slogan - “let’s hack the coronavirus”, supported by the Federal Ministry of Economic Cooperation and Development. Over 150 contestants took part in the competition, presenting more than 1,000 digital solutions.

Only 20 parties were selected as finalists, including the IOTA Foundation. The goal of the event was to help fight the Covid-19 outbreak, especially in less advanced countries.  

Some of the notable names that backed the event include European Union, Team Europe, as well as several other institutions around the globe. The winners of the competition will be working on the so-called “Smart Care Corona Response” in Eastern Europe and Africa. 

IOTA Foundation took part in similar projects in the past as well. In April, IOTA presented a decentralized app called “Open Marketplace” in the CODEVID19 hackathon and won the competition. The app acts as a decentralized marketplace, facilitating the process of trading during times of crisis.

After hitting an all-time low in March, IOTA made significant recovery progress. The coin has advanced 2.3% over the last 24 hours, making no significant movements since Thursday. Currently, IOT/USD is trading at $0.2253, while the recovery is capped by $0.2300. 

On the other hand, the daily SMA50 and the lower line of the daily BB form the vital support zone. In all likelihood, the support will slow down the bears and act as a springboard for bulls.

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Hi Fernando,

Great question.

IOTA is re-branding to increase users’ understanding of the coin. The upgrade will involve the development and standardization of its Chrysalis protocol. Last month, IOTA developer Hans Moog, said the introductory phase would happen in July to allow investors to experience the product. 
Launched in 2015, IOTA operates on the tangle platform instead of the conventional blockchain that supports major digital coins. This cryptocurrency has already landed some partnerships despite being fairly new in the industry.
The Tangle system, for example, has caught the attention of Bosch, Fujitsu, and VW. Its IOTA Marketplace, on the other hand, has over 80 collaborations, among them Philips and Microsoft. According to founding partner David Sønstebø, however, some of the technology’s partners and use cases remain a secret as 80% of the progress is behind the scenes.
It hasn’t been a smooth road for the cryptocurrency. The coin closed its network this February after cybercriminals used a wallet app deficiency to take user funds. Likewise, a corrupted ledger blocked the system for 15 hours in December last year. Seeing most of the protocol’s activities have been pilots, live products will come in handy to restore buyers’ faith in the digital coin.
 

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Hi Fernando,

The IOTA Foundation recently announced the first release of its testnet for a fully decentralized network. The new version, named Pollen, will allow developers and crypto specialist to test IOTA as a fully decentralized network. Pollen represents a fast-developing research test network where the crypto community will be allowed to try out the concepts of IOTA 2.0, which represents a foundation for IOTA’s coordinator-free network.

The new version of IOTA will be rolled out in three phases, with Pollen being the Phase 1. Phase 2, called Nectar, will contain the remaining elements of the IOTA 2.0 test network, and node operators that test the strength of the protocol will be awarded. 
The phase 3 is called Honey, and this will be the official release of IOTA 2.0 and the first fully decentralized version this blockchain.
 

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Hi Fernando, thanks for asking the question.

IOTA (MIOTA) price has largely recovered over the past few months, after the price decline in March. Following the surge to $0.36 in February, MIOTA plunged to $0.099 by March 16th. After the drop, the coin started recovering, dropping from time to time after it’d reach a major resistance. 

After struggling with such resistance for a while, the coin finally broke above it recently.

MIOTA first reached the $0.25 resistance and quickly fell to the support at $0.24. It stayed there for around three days and neither surged nor dropped. 

Finally, on July 19th, MIOTA attacked the resistance and broke above it. The coin is now positioned at a critical spot and from now on it will either keep climbing or see a correction. 
 

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Hi Fernando

Yesterday, the IOTA Foundation released Stronghold, “a collection of multi-purpose libraries that allows secure management of passwords, access codes and private keys”. This is an important step concerning IOTA adoption. Daniel Thompson-Yvetot, a senior engineer at IOTA, said the secure management of digital secrets is one of the top priorities of the IOTA project.  

He said that Stronghold was developed to “strengthen the working environment for developers, enhance the security of applications, and give everyone better options for securely storing and safely using high-value digital secrets”. Stronghold represents a software implementation developed that aims to isolate passwords, wallet seeds and access codes from hackers and data breach.

IOTA recently conducted testing of the synchronization process, the new IOTA Pollen version 0.2.2 managed to pull off a throughput of more than 10,000 transactions per second. The new version also brought updates for the API, the analysis server dashboard and the local Grafana dashboard.
 

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