IOTA live hits $1.6 Billion Market Cap.. What is this sorcery?

As of today June 13th 2017, IOTA is now live on Bitfinex market exchange.

For many of you it looks as a surprise, all of a sudden IOTA hits rank #6 on market cap. With $1,640,206,379. (https://coinmarketcap.com/currencies/iota/)

However, it has been around for a while, it had its private ICO back in 2016.

So what is IOTA?

To get started IOTA is not just another cryptocurrency. Some say it can be the new "Bitcoin / Ethereum Killer".
It involves IoT (internet of things) with a new type of decentralized technology.

One of the coolest things about IOTA is that it uses "Tangle" a direct competitor to the blockchain technology.

The main difference with the Blockchain ledger is that the Tangle ledger does not have any fees associated with transactions, that means free transactions (YES, 0 transactions fees).

Also, as more transaction take place, the faster the network. Making the network very highly scalable.

You can find more information about IOTA at the official website. (https://iota.org/).
Or you can read the white paper. https://iota.org/IOTA_Whitepaper.pdf

Iota is worth taking a look as it has a promising future.

Last but not least, you can join the slack channel anytime and feel free to ask questions you may have.
(https://iotatangle.slack.com)

Cheers!

References:
https://iota.org
https://coinmarketcap.com/currencies/iota/