IOTA has been increasing in price since some weeks and it has called our attention. At CoinStaker we have covered why IOTA became popular and why its price surged. At the moment, IOTA is one of the most important cryptocurrencies in the market. It is the 6th cryptocurrency by market capitalization with $14.4 billion dollars’ market value. Its network offers great advantages for different enterprises, that’s why the Bosch Group wants to invest in it.
Bosch Group VC IOTA Investments
Robert Bosch Venture Capital, known as RBVC, has made an important investment in IOTA according to different sources.
“RBVC has made a strategic move in buying IOTA tokens, one of the larges cryptocurrencies in the world. In doing so it hopes to intensify the collaboration with IOTA and help elevate the technology to maturity by bringing it closer to Bosch’s global ecosystem and key partners,” reads the statement. “RBVC’s investment broadens the potential for new business models for IoT in any number of verticals and uniquely positions IOTA and Bosch to take on the challenges of IoT together.”
This cryptocurrency has received an important support in the last months. At press time, IOTA was being traded around $5.21 dollars after having an important increase in the last 24 hours. It has increased almost 22 percent during the last day. In July, the cryptocurrency could be bought for just $0.17 dollars.
Besides the investment, a RBVC partner, Dr. Hongquan Juang, will join the IOTA Foundation’s advisory board. That’s important for RBVC because it has a big interest in the tangle technology
What Is IOTA?
IOTA is a platform that allow companies to trade different resources in a modern platform named ‘Tangle’. IOTA permits a higher interoperability, allowing different companies to share resource through its network. The IoT (Internet of Things) industry keeps expanding and IOTA supports this development.
In the past month, IOTA has partnered with Microsoft a micropayment-based data marketplace that works with ledger technology. About this, David Sønstebø, has commented:
“The goal is to enable a combination of a business-to-business data economy, as well as enabling researches and even hobbyists to participate. The beauty of enabling fine-granular trade access is that we really don’t know who or how it will be used, except that we know it is a completely new paradigm.”
IOTA allows endless scalability, something that the Bitcoin community is discussing since a really long time. This network works in different ways. It keeps being decentralized and secure, but in order to process transactions, two more should be verified. This method of validating transactions makes the network faster as more people use it.
Different enterprises are looking at IOTA as a network to invest in. It has an important future and it will keep increasing as more developments in the IoT industry are unveiled.
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Tags:Bosch Group VCCryptocurrency MarketInvestmentsIOTAIOTA ExplainedIOTA PriceIOTA Price IncreaseIOTA Price SurgeIota ValueMarketsWhat is IOTA