Must-watch: 500 Billion Reasons why IOTA

Time is running. The IOTA coordicide is on its way and it will change crypto

Time is running. The IOTA coordicide is on its way and it will change crypto

A lot has happened since the IOTA coordicide was announced.
The coordicide is the complete decentralization of the IOTA ledger, which through its innovative solution “shimmer” presents a final solution of the scalability trilemma that can be the starting shot for a global transformation, without mining, without regrets, but in return, with real scalability.
A realistic wild-guess of the Mainnet implementation is mid-2020.

Crypto has been moving the masses since about 2010. Satoshi Nakamoto’s innovation has attracted hundreds of thousands of developers, innovators, companies, and investors and yet the question remains: “Is it all worth it?”

Bitcoin, as the industry leader, has enormously high market dominance and yet the criticism about mining is increasing, because the creation of the cryptographic currency consumes more electricity than entire countries.

However, Bitcoin has proven one thing to the world. Decentralized technologies have a lot to offer. “Banking the unbanked” by the “digital cash” was the mantra of the time when Bitcoin was able to show its investment strength for the first time in 2013 when billions entered the market and brought the public into a state that has remained to this day: “Bitcoin makes everyone rich“.
An even higher value was reached in 2017 when the peak at that time was multiplied to around $20,000 from approx. $1300 and many people became very rich, but in return even more new investors, or the dumb money, how insiders call them, lost their funds.

Another thing also became clearly visible. Bitcoin is not made for the masses. The maximum number of transactions per second for Bitcoin is about 7.
This circumstance and the technical architecture resulted in the fact that to the 2017 bubble, transactions were delayed over many hours and transaction cost in some cases over $30 or more.
No wonder, that Bitcoin was rhetorically transformed from Digital Cash to Digital Gold, as a public response to the need for explanation that it created.

So it’s pretty safe to say that Bitcoin will never again support “unbanked” in its current form if even people in the western world are reluctant to send values with it, and even the highly praised Lightning Network will not represent any added value in its current form, because hub centralization is already reaching questionable proportions that eclipse today’s centralization of the few mining pools, while transaction fees still exist here as well, and therefore, render most of the data markets useless.

Bitcoin as a pioneering technology has successfully demonstrated how a secure DLT can impress the world, but the technical hurdles are so deeply baked into the protocol that one has to wonder if not another innovation can and will take Bitcoin’s pool position without the baked-in limitations and without the harmful mining.

This is where IOTA comes in. The Coordicide solution comes about at a time when Bitcoin will halve his next mining-reward, when a third bubble may surprise and shock the public, because every bubble without a solid technical foundation will sooner or later collapse and leave many tears behind, as in 2017 and early 2018, when suicide hotlines dominated the forums and social media channels.

Bitcoin is a technology, not a sacred relic.
Technology can always be improved, assuming it has the necessary DNA.
In times of climate change, we are better advised not to waste energy, especially not the rather scarce renewable energy we need for more important things.

IOTA can completely replace Bitcoin, and it should not seek a currency substitute that attacks central banks but exists as a regulated currency that can add value to the Internet of Things through micropayments, data transactions, and data integrity.

IOTA’s prototype implementation “shimmer”, written in go, today already runs on hundreds of nodes, which will get dozens of new features over the next few months and will eventually be morphed into the new main-net.

Until then, investors should consider which horse they are betting on.

The next Industrial revolution is shaping the industry with giant leaps and Bitcoin has neither a solution nor a way to go other than the irresponsible mining in times of man-made climate change.

Bitcoin was a wonderful innovation, and the return on investment is a nice side effect, but not at every price and not under all conditions.

We need a solution, but no mining or a sloppy workaround that introduces new problems. IOTA’s coordicide is coming.

Time is running ⌛

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10 Replies to “Time is running. The IOTA coordicide is on its way and it will change crypto”

  1. 1 year for mainnet integration? do not be to pessimistic… but do not hype no as well. If the solution is really found, a technical implementation does not take 1 year. If the solution is only vague.. then it will at least take a year 🙂

  2. what is the transaction speed per second of IOTA? according to what i know, it’s around 6 which is about equal to bitcoin. The potetiel is there, but I can not wait to see the transctions per second increase …

    1. I’d say it’s around 50 TPS right now, as spamming reduces the confirmation rates, but the coming update: coordicide will change that vastly to thousands of TPS. The go.shimmer prototype already peaked at 20.000 zero value transactions in the last days, and it’s only getting better from here on.

  3. Pretty sure it will be few hundred of thousand tps when coordicide. Hans Moog speack about this in twitter, you can check out, or on HelloIota round 8 i guess (not sure)

  4. Bonjour,

    Some people say that 99% of crypto will disappear in 5 years.
    I really believe in IOTA, but I would tell you that it scares me a bit. In principle, IOTA should go through this step, but it’s worrying …
    Would you have a comforting answer for that?


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