IOTA, MIOTA

The IOTA trinity wallet is still in beta, but the IOTA team has made tremendous progress on it. They want to ensure that it is efficient and most importantly secure. To ensure that it is watertight in terms of security, the IOTA team is now running a public bug bounty program. This will help identify any security vulnerabilities on this wallet, and anyone who finds a bug in this wallet will get paid for it.  Here is part of the statement from IOTA, with regards to this public bug bounty.

For the last five months we have been running a private bug bounty program with Bugcrowd. We are now opening this program up to the IOTA community and the public. We are excited to engage the broader community of security researchers in exploring IOTA for fun and profit (if you find a bug, we pay you a bounty!). We encourage you to participate in the program, to help make sure the Trinity Wallet is the safest it can be.

With a paid bounty program like this one, there is an incentive for programmers to take an interest in finding bugs in the trinity wallet. This gives confidence in IOTA (MIOTA) as an investment. That’s because one of the main reasons for FUD against IOTA is that it doesn’t have a working wallet. However, now that the wallet issues are close to getting resolved for good, this negativity will die off, once the trinity wallet goes live.

Investors can now focus more on IOTA adoption going into the future, and there are lots of good news on this front. For instance, IOTA (MIOTA) has made significant in-roads in the mobility industry, and has a clear edge as the DLT that will disrupt this industry.  It is also gaining adoption as the DLT that will lead the way in sustainable development, especially in the development of smart cities.  For instance, the city of Taipei is working on a smart city project that is based on the IOTA tangle. A Taiwanese waste management company is also looking to make use of the IOTA tangle in smart garbage collection.

The IOTA tangle could also be used in launching Initial Service Offerings, which could be a replacement for ICOs.  The best part about ISOs is that they will use IOTA coin by default. This means that once ISOs gain momentum, the transaction levels on the tangle will increase, and by extension increase its security, while creating demand for IOTA (MIOTA). This could hasten the removal of the COO, and make the IOTA tangle truly decentralized, hence eliminating the other source of FUD on IOTA – the question of its decentralization.

In essence, IOTA (MIOTA) is getting better as an investment. Once the trinity wallet goes live, it will place IOTA (MIOTA) in a good position to outperform the market in the short-term. The release of the trinity could be the trigger that pushes IOTA upwards of a dollar, and place it on the path to long-term growth.

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