The IOTA Qubic is a work in progress, but one that will transform the IOTA ecosystem once it is complete. That’s because, it will give IOTA smart contracts capabilities, in a feeless and highly environment. This is a big deal because once IOTA (MIOTA) makes an entry into the smart contracts market, it will rival blockchain smart contracts platforms that are fee-based. As such, the completion of Qubic is one of the most awaited aspects to IOTA going into 2019 and beyond. So far the progress of the IOTA Qubic is quite good, if the word of Eric Hop is anything to go by. Eric Hop is one of the key people working on project Q and here is what he had to say about it.
I’m living in my laptop nowadays. Either writing or programming. It’s all about Abra these days. Started implementing the Dispatcher, so things get interesting. Part 3 of my documentation is about to be reviewed by the IOTA devs while I work on part 4. Once that one is done I want to do a ‘Qubic Week’ where we release one part every day and finally top it off with open sourcing the interpreter so you guys can finally start playing.
This is a big deal, since it goes to show that, not only is the team dedicated on actualizing Qubic, they have also made huge strides towards achieving it. So what can investors expect from IOTA once Qubic is completed?
The best part about Qubic is that once it is completed IOTA’s use case will strengthen in different industries. Its biggest use case will be IoT smart contracts. For instance, in autonomous cars, Qubic will have a strong use case in executing communications between the car and its environment. This is a market that will require millions of transactions to be executed simultaneously. This makes blockchain-based smart contracts quite impractical in this market. The IOTA Qubic will be very practical in this market because it is based on DAG technology and doesn’t have any scalability issues to it, which is a major bottleneck for blockchain smart contracts. As such, Qubic stands to gain in adoption in this market, and give a huge boost to the intrinsic value of IOTA (MIOTA).
Qubic will also open up IOTA for new uses in industries as diverse as space exploration. Recently, Spacebit announced that it could be using IOTA Qubic in space vehicle-to-vehicle communication. Qubic is well suited for this role because of its feeless and high scalability. This is a market that is worth billions of dollars, and one that could open up the market value of IOTA by a huge margin.
These are just a few industries where Qubic will open up the usage of IOTA (MIOTA). As such, its completion will easily see IOTA (MIOTA) hit valuations that are upwards of its last highs of over $5. One thing is clear, IOTA (MIOTA) has what it takes to hit the top of the crypto markets.