The Internet of Things (IoT) is upon us. The interconnected sensors and data loggers transacting with one another in cyber-space have made their way to the forefront of our lives. And as we stand at the precipice of the future provided to us by the God’s of the crypto-universe, this exciting new technology is not just passively being accepted; The IoT is being heralded as one of our great societal and technological achievements.
The associated tokens representing the companies behind-the-tech are attracting a growing number of eager investors each day. In a world of communicating products, data loggers and trackers (embedded into every aspect of our lives) make transactions with the currencies of their parent companies. And the demand produced by these information sharing micro-bots makes holding the alternative currencies representing these companies very attractive.
Still, as the competing currencies of newer companies advancing the Iot (we see you Waltonchain (WTC)) begin appearing on a growing number of exchanges, investors may be left wondering if they made the right call when choosing between the tokens championing this space. When it comes to Iota (MIOTA) and VeChain (VEN), the choice is clear. VeChain (VEN) owns the IoT.
VeChain (VEN) has created the world’s leading blockchain platform for products and information. Creating a distributed, trust-free, business ecosystem, the team behind VeChain (VEN) has gone way beyond whitepapers and roadmaps. Implementing products across multiple industries, VeChain (VEN), one of the earliest blockchain technologies, has deployed their trackers and micro-chips into everything from designer handbags to agricultural fields.
Backed by the VeChain Foundation, the company’s sponsor entity, this champion of the IoT has a bright future ahead. While the Singapore based non-profit maintains an affinity for corporate governance over the decentralized nature of the blockchain (bummer), they are never-the-less committed to the development of VeChain (VEN) and it’s array of usable products going forward.
The company’s current growth reflects the resilience of their product line. Looking at the broader market, VeChain (VEN) was one of the first companies to rebound from the lows of the current downturn. But rather than stagnate below the water line (as their closest competitor in the space, Iota (MIOTA) has), the VeChain token has nearly double over the past week.
Iota (MIOTA) promises a whole new ballgame in the IoT space. Iota’s (MIOTA) ‘Ledger of Things,’ is billed as a solution to the problems of scalability and security surrounding yesterday’s tech. It seems the blockchain just won’t cut it for this ‘Sleeping Giant,’ and the solution for this archaic technology lies in the teams Direct Acyclic Graph, simply known as the Tangle. With the Tangle, companies are able to explore new business-to-business models, making technological resources trade-able on an open market. Settling transactions on demand, trading exact amounts without fees, the increased speed and efficiency of the Tangle may yet prove a necessary component in the future of the IoT.
Iota (MIOTA) took a beating with the rest of the altcoins recently, and recovery has been slow. Still anguishing from their Microsoft faux pas (having boasted falsely of a partnership between the two companies) Iota (MIOTA) is down from a month ago, struggling to regain the confidence of investors in the new year.
VeChain (VEN) Owns The Internet of Things (IoT)
For now, VeChain owns the IoT. With working products, tested principles and investor confidence backing their currency, the company’s growth during the latest market crash is a testament to its potential. Trusting the future of the IoT to blockchain technology, VeChain (VEN) has been able to focus on the development of real-world solutions to the current problems affecting the industry. While Iota (MIOTA) may hold an important key to the future of the IoT, today’s market stance is clear. The tangled web of theoretical algorithms and botched partnerships displayed by the Iota (MIOTA) team will never truly compete with the array of available products already deployed in the field by VeChain (VEN).
Micah C. Miracle – Follow me on YouTube for more!