Over the past two months IOTA tokens suddenly became one of the most-talked about cryptocurrencies of 2017. CoinMarketCap estimates IOTA now has a market cap of more than $10 billion, which outranks more popular tokens such as monero, zcash and Neo in terms of global transactions and speculative value. Robert Bosch Venture Capital recently became the first VC firm to invest in IOTA.
IOTA is still considered an extremely young cryptocurrency in terms of technical development and adoption. Its white paper was first published in 2015. Then a group of volunteer developers ran a token generation event (before initial coin offerings became a hip trend) to raise around $500,000 and establish the nonprofit IOTA foundation in Germany. IOTA offers a radically different approach to cryptocurrency, one without miners or a traditional blockchain network. This solves two of bitcoin’s biggest pain points: Slow processing and high transaction fees.
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