We are all no strangers to the slump in the global financial market this week, and the crypto market has been no exception. Some allude this to being a massive selloff by a Wall Street crypto whale, and others claim it’s the norm for the crypto market about this time of the year followed by bullish run towards the end of the year. Whichever way, we can attest to the fact the IOTA MIOTA has been greatly affected in terms of its market value.
But moving away from the sickening news of the market values, IOTA’s developers yesterday announced that the IRI software of the platform was up to receive an update in the coming weeks. These past few weeks have seen some very major software update releases in the crypto; from the Qubic update, to the update of the Tron network, to Ethereum’s Lighthouse update. During the announcement of the update of to the IRI software, the IOTA developers team stated
“Today marks the release of IRI 1.5.5. The IOTA Reference Implementation (IRI) software is the backbone of the IOTA network. An evolving piece of software that is incrementally moving towards the implementation outlined in the IOTA white paper. As development has progressed, we have aimed to make running an IRI node and contributing to the IRI code as simple as possible. In this regard, there is room for significant improvement both from the node operators’ perspective and community developer perspective. With IRI 1.5.5, we hope to make a step-in tackling this with an improved and refactored IRI configuration.”
This is not the first of such moves to solidify its technical base. Recently the distributed ledger-driven recruited some skilled personnel to help boost the performance of its technical front. The team has also hired the services of French computer scientist Thibault Martinez who is expected to facilitate the adoption of the IOTA technology into the mainstream businesses and promote IoT (Internet of Things).
One may wonder how important this is in getting the MIOTA token’s value up and strong again, well this is how it works. A strong technical team eventually means ease in integration of the technology. Easy integration means likely mass adoption and building of trust in the network, and the more trust in the network the more people patronise it, and the more people use it the higher the value of its native token (MIOTA) becomes. There you go, your simple guide as to how boosting your technical front can increase the market value of your crypto token.
The new IRI update is said to function with DAG tech, which means better scalability, and even better security on Tangle. The new security feature will function based in the number of transactions to be done, throwing out the window the need for a central/main coordinator, setting sights on full decentralisation finally.
Hopes are high for altcoins still, and IOTA is one of the most expected-to-hit coins. The crypto market should by now be seen as a long-term investment thing and that if one isn’t ready to risk and go long time, just step out of that zone. IOTA has raised many people’s hopes so far and it hasn’t disappointed yet, not even close to doing so. The way forward is to start looking at how IOTA is likely to perform going into next year.
The slump and slug of the week has made many lose hope in crypto so quickly, however, a new interest in the token is what is likely to hold the token going till 2019 then.
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