IOTA, the internet of things-based cryptocurrency has seen some very positive movements this week with IOTA investors no doubt feeling quite pleased with their investment choices. Of course, we can’t guarantee that these positive movements will continue, the nature of cryptocurrency is one that tends to be quite erratic, meaning that just as a crypto begins to climb, it can crash back down too. Why is this important? Well we want you to know that crypto is risky business, yes, invest in IOTA but only do so after you have done extensive research into the IOTA project. These weeks movements are one thing, but next weeks movements could see something totally different entirely.
So, what’s happened this week? The spike in the value of IOTA comes off the back of an announcement that suggests the IOTA ecosystem is about to see a huge upgrade, one that promises to address a number of concerns that investors and traders have had with the IOTA ecosystem. As we know, no blockchain project or cryptocurrency is truly decentralised just yet, though with this new update, IOTA is about to take one giant step closer to decentralisation.
Known as the Coordicide Solution, IOTA have announced an update that solves a big problem with the IOTA coordinator, a system that was designed to help keep the IOTA network (Tangle) secure. In order to understand Coordicide, we have to understand the coordinator. Here’s a little description of the IOTA coordinator that we have found within the main IOTA FAQ page:
“In IOTA because each transaction requires a tiny amount of Proof-of-Work and/or requires a tiny amount of bandwidth, the communitive throughput of transactions is what secures the network. The more transactions which occur,