IOTA rising to the top (almost +200% in the past week)
Cryptocurrency IOTA is now the fourth-largest digital currency by market capitalization, above Ripple (XRP). The IOTA Foundation, a German non-profit firm that oversees the virtual currency, said last week it has partnered with big tech firms on a blockchain-based marketplace that lets them sell data - Microsoft, Fujitsu and Samsung.
IOTA incentivized the sharing of data through its zero fee transactions and by ensuring data integrity for free on its decentralized distributed ledger. IOTA has resolved the three major issues of blockchain — fees, scaling limitations and centralization — and built up real-world partnerships and projects with world-leading companies since 2015.
The marketplace is currently a pilot project and examples of data being shared included weather and air quality data.
Their Tangle protocol is akin to many micro blockchains processing transactions in parallel. Blockchain's core concept is that it relies on the security of the final block hash and only one outcome of any given block is validated and therefore accepted as proof of work.
Tangle is not a chain of blocks, it is a concept that is faster and infinitely scalable, but there are security risks, which I believe the IOTA engineering team is working on, and have been, since it was taken down last week for 38 hours. Their digital ledger, inspired by internet of things technology, is "blockless," and allows users to make transactions on the network for free.
IOTA just entered China and Korea, huge markets meaning a lot of new people buying.