According to IOTA’s website, “IOTA is a revolutionary new, next generation public distributed ledger that utilizes a novel invention, called a “Tangle”, at its core. The Tangle is a new data structure based on a Directed Acyclic Graph. As such it has no Blocks, no Chain and also no Miners. Because of this radical new architecture, things in IOTA work quite differently compared to other Blockchains.”
So it sounds like great concept, and they are building network without miners and hence IOTA transactions are FAST and FREE. But recently we have researched that many users are complaining on reddit.com that they are unable to sell their coins. With latest buzz and more than 500% price increase lot of IOTA’s initial investors wants to take profit by selling some of their coins, but since network is not working or transactions are not being accepted, they are unable to make a sell and enjoy some profits.
Recent price increase of IOTA coin is based on their partnership with Microsoft – but is it real? Everyone has seen CNBC news story – https://www.cnbc.com/2017/12/04/cryptocurrency-iota-rallies-after-launch-of-data-marketplace.html but that is based of information from IOTA, but there is no official announcement from Microsoft. We understand big company like Microsoft partners with hundreds of companies and technologies, but on this specific partnership we can hardly find any information available on the internet. We sent out few emails to trusted sources and will update this blog post if we find any any evidence that if there is any partnership between IOTA coin and Microsoft.
We definitely know that Microsoft is interested on Blockchain Technology and they have their own framework etc, but we do not see why would Microsoft pick IOTA, specially there are few good options out there.
We just hope this is not another FAKE news and another Pump & Dump scheme. Maybe clear direction from Microsoft will help. Because IOTA is not just token anymore, it is 12 Billion $ token and it has reached to that level in merely few months.