JAKARTA – The price of crypto IOTA (MIOTA) experienced a significant increase in the midst of falling Bitcoin prices. The increase in MIOTA was driven by the planned launch of the latest IOTA smart contract which was welcomed by investors.
For information, IOTA is a distributed ledger for the Internet of Things (IoT). Every micro transaction in the IOTA network is free of charge or free, IOTA also provides a secure data transfer service. IOTA uses Proof of Quantum (PoQ) consensus. The PoQ protocol called Tangle manages to deliver attractive features compared to others such as zero fees, fast transactions, unlimited scalability, secure data transfer, and so on.
Reporting from Investingcube, on Thursday, the IOTA Foundation announced the launch of its newest smart contract that can be structured and split with zero cost options. Smart contract technology allows developers to build applications like those on DeFi using platforms like Ethereum and Solana.
“The board has created a network with fixed fees as low as $0 thanks to the flexibility to define individual execution costs for smart contracts. With these innovations, Assembly offers developers a powerful toolkit to remove existing barriers to entry and bring the next billion users to crypto.”
With these positive developments, will the price of the MIOTA crypto go up? A financial analyst and trader focused on crypto Cryspus Niaga said that does not mean the price of MIOTA will continue to rise. In his article he lays out another possibility, "in the medium term, the opposite could happen."
The latest example is the cryptocurrency Cardano (ADA) which has successfully released smart contracts for some time. The price of ADA experienced a significant increase, but after some time it fell. However, the launch of smart contracts is a positive thing.
When this news was written, the price of MIOTA was trading at the level of Rp. 21,365, an increase of 7.6 percent in the last 24 hours. In two weeks, IOTA crypto managed to skyrocket by 20.8 percent as data reports from Coinecko.
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