IOTA is skyrocketing

IOTA cryptocurrency rose 35% within past 24 hours and 139% within past week and it is still on the rise due to some significant events connected with IOTA crypto
03 December 2017   1637

IOTA cryptocurrency has been showing quite a steay price lately, but on December 3 its price significantly jumped. The currency has shown a 139% during past 7 days and a 35% increase during past 24 hours. The price of IOTA rose from $1,42 on December 2 to $2,2 on December 3 and the market capitalisation of the currency increased from $3,9 billion to $5,5 billion relatively.

IOTA charts december 2017IOTA Charts

Moreover, on December 3 IOTA passed all major cryptocurrencies with 24h Volume on Binance cryproexchange, moving to the 1st place, having reached the volume of more than $53 million a day, which is 3$ million more than Bitcoin did.

Binance markets cryptocurrenciesBinance active markets list

What could lead to such a significant and unexpected price jump of IOTA is that IOTA made an announcement in the official twitter account stating that the IOTA Simulation Environment of a decentralized Smart City Charging Network based on IOTA was released. As it is stated in the annoucement, the environment is able to simulate hundreds of nodes virtually to boost real-world deployment preparations.

At the moment of press, these are main market parameters of IOTA:

  • Average price: $1.92
  • Marketcap: $5 336 559 167
  • 24h volume: $354 563 000

Previously, we reported that IOTA launched first cryptocurrency market for the IoT and that IOTA might introduce e-currency in the future.

Volkswagen to Use IOTA Technology For Software Updates

This project is designed to solve the key problem of secure transmission of software updates "on the air" (OTA) to the network of autonomous vehicles
12 June 2018   228

This week, the German automaker Volkswagen announced cooperation with the IOTA, which develops solutions in the field of the Internet of things. At the CEBIT 2018, the companies are planning to show a new experimental sample of their joint project based on the IOTA DAG network.

IOTA Twitter
IOTA Twitter

This project is designed to solve the key problem of secure transmission of transparent, undamaged software updates "on the air" (OTA) to the network of autonomous vehicles. At the moment the data is distributed centrally, so there is no guarantee that the information delivered to each car is genuine and unchanged. This problem can be solved using a distributed ledger or other similar technology.

In addition, because the scope of autonomous vehicles continues to grow, the system must not only decentralize to monitor each update, but also be able to scale to the right size to cope with the increasing load on the network. Another major factor is security. This factor will become more important when cars become more dependent on software for performing basic tasks and functions related to security.

Johann Jungwirth, Volkswagen's senior director of digital engineering and member of the IOTA Foundation's Supervisory Board, believes that the technology of a decentralized distributed registry will form the basis of a safe ecosystem that does not require participants to trust each other - just the one Volkswagen needs to further develop its the project of autonomous cars. He calls IOTA "an excellent example of how distributed ledger technology can be used in the future."