IOTA (MIOTA) had a rough time lately when on April 30, Tron (TRX) and Neo (NEO) bypassed the crypto on CoinMarketCap and according to market cap. IOTA managed to regain its 9th spot with a market cap of $6,014,736,761 and a current value of $2.16. Its closest competitor Tron currently boasts a market cap of $5,377,985,139.
IOTA teamed up with significant names
IOTA’s latest achievements got its momentum going again in the markets. The most recent partnership is the one with Porsche on a project that’s called Program 4. IOTA and Porsche Digital Labs teamed up after an earlier partnership with Autobahn German Startup.
Autobahn chose IOTA from so many other tech startups to work on developing a platform for Smart Mobility. With the IOTA tech as the core of this innovative project, the future of smart and autonomous vehicles looks brighter than ever.
“The @PorscheLab is looking forward to work together with @iotatoken & @Porsche on a @StartupAutobahn Project. #StartupAutobahn is the ultimate innovation platform that unites tech companies with the tech expertise of #SilliconValley & the best of German engineering. #Porsche #IOTA,” IOTA News announced on Twitter on May 5.
IOTA’s ledger is a stream of individual transactions entangled together
IOTA’s main target is to connect all devices on the network to the IOTA tangle. The thing that makes IOTA so special is that its ledger doesn’t involve transactions grouped into blocks and stored in sequential chains. Instead, it’s a stream of individual transactions that are entangled.
IOTA enables distribution and sync of ledgers of data and money in secure, decentralized, distributed environments that don’t need approval from third-parties.
IOTA’s Tangle is basically the missing element that will allow both machines and humans to work together, contributing to the development of permissionless economies. Such partnerships as the ones mentioned above will support a flourishing future.