IOTA Surges Over 20% Due to Change in Network Infrastructure

IOTA is an alt coin who’s team announced today what they call Coordicide, a term that refers to “the death of the coordinator”

The coin first launched in 2015 as a token to monetize the internet of things (iot) via microtransactions and utilized a tangle or directed acyclic graph.

It first hit the market in June 2015 at 0.63 per coin and during the peak of late 2017 reached $5.32 per coin for a market cap of over $14 billion.

The significance of the coordicide announcement is that it is removing a centralized component of the infrastructure and replacing with a decentralized distribution of nodes.

This change is designed to make then token transactions more scalable, faster, and cheaper.

The market has responded favorably to this announcement. At the time of this writing the token was trading at $0.53 up over 20%.

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