A few days ago, IOTA (MIOTA) unveiled project Qubic, which is aimed at giving IOTA smart contract capabilities. This drove in lots of optimism in the IOTA project. However, many investors have been wondering how IOTA will compare to Ethereum and other platform blockchains, with the entry of project Qubic. Well, in an interview, IOTA founder has clarified on this, and from what he had to say about it, IOTA (MIOTA) is about to change the smart contracts market as we know it today for good.
One of the areas that he touched on is the fact that with Qubic, IOTA (MIOTA) has a scaling potential that is impossible to achieve with Ethereum. His argument is that scalability has to take into context limitations of computing devices such as bandwidth and power costs. These are issues that blockchain based platforms like Ethereum cannot practically deal with, but IOTA can, because it uses tangle technology. Tangle also makes IOTA (MIOTA) feeless in the execution of smart contracts unlike Ethereum. In essence, in the internet-of-things space, where IOTA is bringing in smart contract capabilities, Ethereum just can’t compete.
Another important aspect that he touches on is the issue of transaction speeds. While he believes that Ethereum might achieve its ambitious million transactions per second, he argues that this will be counteracted by the problem of transaction costs. According to him, in the machine economy, costs are a hindrance, no matter how low they are. Machine-to-machine communication can only happen in a feeless environment. That’s why IOTA with its feeless tangle technology has a clear edge over Ethereum in this space.
From this interview, it is clear that in the machine economy, which is the next frontier in technology, IOTA (MIOTA) has a clear edge over Ethereum and all other platform blockchains. This effectively makes it a monopoly in the new economy, and this will have a huge impact on its future valuations.
This explains why there is an increased interest in IOTA (MIOTA) at the moment, relative to most other cryptos. According to sentiment, an online platform that aggregates crypto sentiment, IOTA has a positive sentiment of 86%, way higher than that of bitcoin that stands at 66%, and Ethereum at 76%.
There is no doubt that with Qubic, IOTA (MIOTA) is a solid crypto to have in one’s portfolio. It is a crypto that is fully embedded in the future of tech, and that’s machine-to-machine communication. In the next 5 years, IOTA (MIOTA) could easily be worth upwards of $50 a coin.