The price of the IOTA remained in a narrow range on Sunday, as investors waited the largest upgrade in the history of the network. The distinctive symbol was traded at $ 0.20, a few points from the highest level in April 0.2415 dollars. This article explores what can be expected before an upgrade on Monday.
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IOTA, the professor’s distributed book technology network, will be in the spotlight this week as developers will release the upgrade promotion after months of testing.
Rebased will make new changes that will change the network forever and make it an applicable alternative to popular chains such as ETHEREUM, Solana and SUI.
The first main part of the upgrade will be to enter smart contracts into the network. This will enable developers to build applications in areas such as games and decentralization (Defi) and Stablecoins.
This will be a major change compared to the current version of IOTA. The current version uses a technique known as Tangle, which uses the directed graphic approach (DAG). Tangle is a network of transactions, as it confirms every previous treatment.
Tangle helps the network get rid of the need for miners as users verify the authenticity of their transactions themselves.
The most important upgrade in the history of iOTAS and all exchanges support it. Thank you Binance 🙏 I can’t wait for Monday
Therefore, the equivalent network will convert it from tangles into a smart contract chain, which will be run by more than 150 authentication. These auditors, including Nansen and Blockspace, are used to confirm the transactions in the network.
Another big change is that IOTA will now get a stokeing, where investors are expected to earn an annual return between 10 % and 15 % over time. This is noticeable because these investors do not earn anything today.
Moreover, the IOTA network will move the apparent device that will operate its smart contracts. In the end, developers hope to deal with more than 50,000 transactions per second, and much higher than most Blockchains today. It will also have low transaction fees, care fees with care and storage deposits.
Rebred will also have a complementarity with Machine Virtual Ethereum (EVM), enabling the applications created in the network to communicate with those built on the ethereum network.
Risks and opportunities
The re -photographed IOTA can make a better chain, which enhances its long -term price. A good example of this is Sonic, which moved from Fantom earlier this year. I have continued to see a lot of traction that paid the closed total value to more than a billion dollars.
However, the danger is that IOTA will just become another chain in the encryption industry. This is because the industry is very saturated, with hundreds of chains, all of which offer unique solutions.
IOTA tried to become a better chain in the past. The most prominent of this is its launch of Shimmer, a network that fights to gain traction between developers.
Technical analysis of the price of IOTA
The daily graph shows that the price of IOTA has been in a narrow range in the past few days. It reached its peak at 0.2415 dollars on April 27, and then returned to the current $ 0.2055.
This recovery occurred after the currency formed a giant sorry pattern, a famous reversal sign. Therefore, there is a risk of a decrease in the IOTA coin after the opposition upgrade due to a situation known as the purchase of rumors and the sale of news.
However, the jump above the main resistance level at $ 0.2415 will verify the authenticity of the ups and lead to more gains.
Post -IOTA price predictions: buy or sell before the upgrade promotion? First appeared on Invezz
