Today, the IOTA team has announced that they are considering the idea of reusable addresses. The idea is premised on the fact that the IOTA community has been asking for this, for quite some time now. Actually, this has always been the biggest source of FUD directed at IOTA, and by addressing it, the IOTA team can put this issue to rest for good. The team is working on a solution that not only offers a solution to the problem of reusable addresses, but also maintains the quantum resistance of IOTA.
The challenge with reusable addresses for IOTA (MIOTA), even though they are more user friendly, is that that they can impact on the capability of IOTA to make long-term moves geared towards the IoT market. According to the IOTA team, for IOTA to have an impact in this industry, quantum resistance needs to be at its core, to allow device manufacturers create devices that can function for long. Here is what they had to say about this issue.
“IoT devices usually make use of technologies like FPGAs (field-programmable gate arrays) and ASICs (application-specific integrated circuits), which are not easily patchable. Their logic is normally hard-wired to make them as energy-efficient as possible. But once deployed they will have to work exactly as they were built until the end of their life. In this context, it does indeed make sense to think about the threats of tomorrow, so that device manufacturers can ensure that their devices will operate securely for years to come.”
Trying to solve the problem of addresses while at the same time taking care of the long-term is a positive attribute of this team. That’s because they come across as a team that is not only looking to solve long-term problems, they are also conscious of the needs of IOTA users today. This will play a huge role in driving in investors into IOTA on the strength that the IOTA team cares about them. It goes to show that the IOTA team is in it 100% and that’s a recipe for long-term success.
On top of that, the fact that IOTA is looking at the future of the IoT market and how it could play out in the long-run is a pointer to the fact that IOTA has what it takes to dominate this market going into the future. Once IoT device manufacturers start building their devices around IOTA, IOTA will have cemented its position in the IoT market going into 2019 and beyond. Taking control of this market would see IOTA easily gain a trillion dollar valuation in the future.
Looking at IOTA (MIOTA) in the day, it looks to be regaining its value after yesterday’s crash. IOTA has in the last 24 hours, pushed up from a low of $0.47 back above $0.50. It is currently trading at $0.511 having broken above the 21-day MA resistance level at $0.502. If volumes continue to make gains in the day, it could test the 55-day MA resistance at $0.527. A break above this level could take IOTA back to the pre-crash price of $0.562 on the 200-day MA.