IOTA (MIOTA) had been temporarily edged out of the number 10 slot by Tron (TRX) yesterday but has since recovered it albeit with a narrow gap in terms of market capitalization. Only $30 Million separate the two cryptocurrencies that are trading at levels of $2.03 and $0.085 at the moment of writing this.
It is with the current momentum of Tron (TRX) that a trader might be tempted to consider that IOTA is on its way out of the top coins on coinmarketcap.com.
However, this is not the case considering the fact that Tron has a bunch of announcements and events lined up between now and the 26th of June this year. The momentum is with Tron 100%.
IOTA is still in the game and has made some major strides in the crypto-verse as I shall highlight.
The April 29th IOTA Snapshot
Earlier today at 6am UTC, there was an IOTA snapshot to reduce the size it takes for nodes to save the entire Tangle. The snapshot compacts the Tangle by removing parts of its history, except addresses with value. If you followed the instructions during the snapshot, you should be good. But if you did not, your wallet might show a zero balance. But do not despair, complete instructions on how to go about correcting this can be found here.
IOTA Real Life Use With Elaad
IOTA and Elaad have partnered in revolutionizing how electric vehicles are charged in Netherlands. Elaad specializes in the field of smart vehicle charging infrastructure. IOTA and Elaad worked together on a patent made by Elaad and powered by IOTA’s Tangle. What bore fruit is that now IOTA users in the Netherlands can now be able to use the first ever crypto-charging stations for electric vehicles which is both eco-friendly and cost effective.
The charging is done in a way that the user’s IOTA wallet is linked to the application that enables instant payments for the charging being done. Machine to machine communication finishes the transaction on the Tangle without much input by the user.
Tangle Being Tested By InnoEnergy (Europe)
IOTA and InnoEnergy have partnered through a Memorandum of Understanding to explore and demonstrate the efficacy of the IOTA Tangle and in creating smart community solutions. IOTA has been pushing for the Internet of Things on the Tangle network. With InnoEnergy focusing on efficient systems and smart energy, this will surely yield some favorable results for both companies.
InnoEnergy’s main goal is to bring sustainable energy to Europe. With the Internet of Things on the Tangle Network, wind turbines or even solar panels will be able to know what the cities demand is in terms of energy, and adjust appropriately. Perhaps another solution would be for household electronics to be turned off automatically when not in use and while on the IOTA Network.
In conclusion, the IOTA project is making considerable partnerships and progress in solving real life problems. The coin is also slowly recovering from the market correction of the past few months and shows more promise as we go down the second quarter of 2018.