MIOTA Prices Surge After Microsoft, And Fujitsu Make Data-Sharing DealsDecember 6, 2017 5:10 pm
MIOTA prices, Cointelegraph reported Wednesday, have exploded over the past week, gaining massive value and even surpassing Ripple to take over the No. 4 spot among cryptocurrency market caps.
The price explosion of the cryptocurrency for the IOTA platform comes on news of a major agreement being signed with Microsoft, Fujitsu and others for business-to-business data sharing, the report said.
The rally began on Saturday with the price rising to $1.50, but the major hike only just took place within the last 48 hours, the report said. During that time, the price has steadily increased at exponential rates.
As of 11 a.m. ET, MIOTA is trading at $4.05 USD, down from earlier highs of around $4.64 USD, the report said.
IOTA is famous for its ‘Tangle’ system, the report said, a platform of interconnected nodes that both validate and create transactions.
Explaining further, Cointelegraph writes the system is designed to allow users to create transactions simply by validating, meaning that all transactions are secure, immutable and, most notably, free.
Because the system allows for zero transaction fees, it is ideal for the data industry, the report said, as micropayments for data among businesses cannot be suitably handled by legacy Blockchain technology systems.
The interest in the technology will likely continue to grow as the need for scalable free transactions grows as well, Cointelegraph reports.
– WN.com, Jack Durschlag