Dr. Ingo Fiedler: IOTA could rise to 3rd place

In an interview with Bundesdruckerei, Dr. Ingo Fiedler was bullish about IOTA. In his opinion, the chances are good that a crypto currency based on a direct acyclic graph (DAG) like IOTA could prevail. Plans for an ID card based on the tangle became known.

IOTA and its tangle are still controversial in the Bitcoin evolution

While some are celebrating the ability to innovate and above all the idea behind the currency for the Internet of Things, there are always critics who criticize the centrality of the Bitcoin evolution system. The current status of the tangles ultimately still makes it necessary for there to be a „coordinator“ to stabilize the tangle behind, under and around IOTA. (More about IOTA here and the Tangle here).

Nevertheless, numerous companies are convinced of the future potential of the technology around the initiators Dominik Schiener and David Sønstebø. In addition to partnerships with industrial giants such as Bosch, Microsoft and Volkswagen, the team recently announced a cooperation with Taipei, the capital of Taiwan. Together with the Information Technology Department and Startup BiiLabs, the Foundation is now working on a way to manage identity on the Tangle. This should make it possible to handle identity data more confidently. In addition, the city hopes to achieve a more transparent and secure administration of data.

To achieve this, they are relying above all on the Tangle, the technology behind IOTA. Instead of a blockchain, this is an acyclic graph in which transactions can be processed synchronously. In this way, the technology promises better scalability and the possibility of making microtransactions in the area of things possible.

Bitcoin evolution Research Commentary

It is precisely these advantages that convince Dr. Ingo Fiedler of the University of Hamburg: https://www.geldplus.net/en/bitcoin-evolution-review/. In an interview with bundesdruckerei.de he says that IOTA has the potential to become one of the top 3 Bitcoin evolution crypto currencies behind Bitcoin and Ethereums Ether. On the question, which in his opinion the most important crypto currencies are, he therefore gives the following answer:

„[…] of the currently available crypto currencies, I think only three will develop. These are Bitcoins, which are technically clearly inferior, but have the greatest network effect, and Ethereum, which will play a role in company financing and offers „smart contracting“ opportunities.

When asked which is the third important crypto currency in the alliance, Dr. Ingo Fiedler talks about the technology behind IOTA:

„This is a currency that is based on a Directed Acyclic Graph (DAG) – quasi a multidimensional blockchain – and is highly scalable. The first DAG-based currency to be mentioned here is IOTA, which, in contrast to the „normal“ blockchain, functions all the better the more transactions are made.“

The IOTA price is currently on a similar downward slide to Bitcoin and Ethereum. With an IOTA rate of 0.99 euros, the crypto currency is currently at a 24-hour loss of 4.81 percent. In addition, the figures are also red in the weekly review – here you can see a loss of just under 16 percent. In the monthly process this makes a loss of 33 percent. (As of 18.06.2018 12 o’clock).

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