The market has taken a big hit today, and IOTA (MIOTA) is no exception. However, even in these conditions, IOTA (MIOTA) is still making good progress in the technical side of things. Today, the IOTA team has announced some progress to IRI software, which is the backbone to the network. Here’s is that the team had to say about this development.
“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 release follows a series of other positive moves by the team. Recently the IOTA foundation has brought in a number of experts in different fields, in a bid to strengthen the team. The latest addition to the IOTA team is Thibault Martinez, a French computer scientist. Martinez adds to the technical strength of the IOTA (MIOTA) team, and will play a role in making IOTA better, and facilitate its adoption going into the future.
All these developments will play a huge role in driving up the adoption of IOTA (MIOTA) going into the future. That’s because when the code is right, companies and developers will start flowing into IOTA and drive up the value of IOTA (MIOTA) going into the future. As things stand, IOTA (MIOTA) is among the best DLTs out there. It runs on DAG technology which means that it is highly scalable, fast and increasingly getting secure as the number of users of the IOTA tangle increases. Speaking of the tangle, its security is premised on the number of transactions, which explains why there is the need for a central coordinator at this point. In essence, with better technical capabilities, a strong team and a growing rate of adoption, the tangle will soon eliminate the need for the coordinator and make the IOTA network truly decentralized.
Going by the above, it is clear that IOTA (MIOTA) could be headed for some good times ahead. Like most good cryptos, the best approach at this point is to look at IOTA from a long-term perspective. As IOTA gets better, it could easily outperform its all-time highs going into 2019. Its adoption levels in 2018 have been simply incredible in spite of the bear market. This means that the only thing holding it back at this point are the market volumes. Once interest in crypto returns, IOTA (IOTA) will definitely be one of the best performers in the market. It could easily beat its all-time highs. IOTA has the potential to hit double digit valuations going by its potential to disrupt industries as diverse as the car insurance industry.