IOTA – marketplace, price and foundation. Is it worth something?

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iota marketplace data

The crypto currency IOTA is listed in Bitfinex, a popular Taiwanese exchange. The currency surged by about 30% yesterday to trade at $1.48 levels, as the news of a partnership broke out. The media reported that IOTA Foundation Launches Data Marketplace For ‘Internet-Of-Things’ Industry. The public marketplace aims to give connected devices the ability to securely transfer, buy or sell fine-granular and diverse datasets while ultimately facilitating access to data that oftentimes sits unused. The initiative, which will allow stakeholders to share and monetize their data in a secure way. Once uploaded to IOTA’s decentralized ledger, all data is distributed to countless nodes in order to ensure immutability.

IOTA data marketplace

The simple idea is to enable a future where any connected sensor or device can grab data from an open marketplace, for a micro-fee, to power an application. Smart city sensors, for example, could use environmental data collected via Samsung’s ARTIK sensors to drive IoT-based pollution alerts. The marketplace is hinged on data’s use applications in industries such as supply chain, smart cities, energy, manufacturing and healthcare. Within the next few weeks, participants in these industries and others are expected to open and enable access to streams of data generated by sensors they’ve deployed. Examples of available data include location-specific environmental data, African agricultural data and anonymized healthcare data from wearables.

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The public marketplace aims to give connected devices the ability to securely transfer

More than 20 organizations have joined the IOTA Foundation’s data marketplace, a new open innovation initiative seeking to create a platform where firms can buy or sell data from sensors and IoT-connected devices.
What the IOTA team is emphasizing is that its new marketplace is a big chance to showcase how a real-time micropayment business model can enable innovative apps for supply chains, smart cities, AI, and more. A demo of the platform is scheduled to run through January and will be a way for companies to participate in the innovation.

Iota price in November 2017

Since Monday, IOTA’s token has gained around 87%, going from $0.80 to $1.50, and the announcement has been the main driver. Yesterday, the coin fell to an intraday low of $1.13, but managed to pick up a bit toward the end of the session, finishing the day at $1.26. Today’s trading has been relatively quiet for the cryptocurrency, which is currently trading around $1.25. IOTA is now one of the largest cryptocurrencies with a current market capitalization of about $3 billion. When it launched on the Taiwan-based exchange Bitfinex in June, IOTA shattered trade volume records and reached a market capitalization of more than $1.5 billion within two hours.

Where to buy IOTA’s?

IOTA token has been one of the frontrunners in the cryptocurrency industry under the Bitfinex exchange despite having been launched just this year. It already had a record breaking high of $1.5 billion market cap. Make sure your funds are on the Exchange wallet. In the order form select the Exchange tab. Then you will need to specify the type of order, order size, and price if you choose “Limit” order type. If you choose instead “Market” order type, your order will be executed at a current market price. Next click the “Exchange Buy” button and Your order will appear in the Orders tab. Once the order is executed, your funds will be credited to your Exchange wallet.

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