Cryptocurrency Number Twelve – eToro Adds Twelfth Cryptocurrency to its List
The foreign exchange, assets and cryptocurrency brokering platform, eToro, which also allows its customers to do what it refers to as ‘Copy-Trading', which allows users to copy the trading styles of other customers, has also added MIOTA to its list of existing tradeable assets.
Officially, MIOTA is now cryptocurrency number twelve that was fortunate enough to find its way to eToro's digital trading platform. The latest cryptocurrency to be added to the platform was Cardano, which was added in June of this year.
Early Adopter of Bitcoin
Founded in 2007, eToro was founded as a completely online platform, including offering access to cryptocurrency assets such as Bitcoin along with other cryptocurrencies as of last year. The company also shared that it had acquired a large volume of new customers in the space of a single day in December than it did in the whole of 2016.
In March, eToro was successful in raising over $100 million in funds for a blockchain company investment fund. One of the companies involved in this fund was also eToro's own decentralized cryptocurrency exchange, and in June 2018, eToro announced that it planned to open a London based branch that will provide support to users looking to get involved in hedge funds.
A Matter of Oracles and Mobility
IOTA, by its own definition, is not effectively a blockchain network, but identified as a ‘transactional settlement and data transfer layer” which also uses a decentralized network referred to as ‘The Tangle'. This system was officially launched in 2015 with the ambition of becoming the first and foremost name associated with the ‘Internet Of Things'.
This Internet of Things refers to the concept in which the appliances and systems that we use on a daily basis will be intermingled and interconnected and controlled through and by the internet.
IOTA's founder David Sønstebø, in a conversation with reporters from the ‘Finance Magnates' in January 2018 stated that the team saw itself as a company that was becoming ‘more than a cryptocurrency.
In spite of this, its associate cryptocurrency, MIOTA, has a total market capitalization of over $1.4 Billion according to the latest figures from the cryptocurrency site, CoinMarketCap.com.
Boasting a significant market cap figure, there has also been a lot of news associated with IOTA and MIOTA over the course of this year. In May, for example, the IOTA Foundation signed a deal with a governmental body under the United Nations (UN) under the condition that it would help the international organization to better manage the logistics of its document management and storage, improving the organizations efficiency as a result.
In July, IOTA sent a team to Audi Headquarters in order to work closely with the Audi teams manufacturing department. The aim on IOTA's side was to support the creation of a ‘permissionless mobility ecosystem', whatever the intended product looks like.
Over the course of June, IOTA was responsible for publishing of a very enigmatic and mysterious promotional video on YouTube alluding to a new system in the works called ‘Qubic', which is intended to be the means by which the world interacts with your ‘Tangle'. If you take on the role of telling the system what the weather is like, then you would be referred to, by this same system as an ‘Oracle'.
The IOTA team, when approached for more information with regards to the product, called it “a platform for the greater community and ecosystem to create things we can’t even imagine yet.”
Within the space of this month (August), the IOTA Foundation also launched its new open-source protocol designed to improve the overall process of an exchange listing for its coin, also referred to as the IOTA Hub, which has already found initial success in order to list MIOTA on the South Korean cryptocurrency exchange, Upbit.
IOTA also published a job ad recently in August, in search of a business development manager from within North America. What this demonstrates is an intention to gain greater exposure to the North American Market. The job in question would see the would-be candidate based in California.
In December 2017 there was a limited amount of controversy over a semantic misunderstanding as to its exact relationship with Microsoft.
CEO Yoni Assia said in a speech in April:
“The use of blockchain and crypto is and will become a way of life.”