IOTA Qubic Revealed – MIOTA Price Skyrockets
IOTA’s price skyrocketed on may the 3rd due to the fact that the company has decided to unveil its latest development known as Qubic. The Qubic project is one of the main priorities of the IOTA Foundation in 2018 and 2019.
What is Quibic?
Qubic enables Smart Contracts, Oracles, Outsourced Computing and many more things. Using IOTA as a backbone, Qubic will be used for different projects in the future that are being developed right now.
David Sostenbo, commented about Qubic:
“For now, in brief: Qubic enables Smart Contracts, Oracles, Outsourced Computing and lots more. Qubic, using IOTA as a backbone, will be the foundation of plenty more projects that we have in motion already, but more importantly, it will be a platform for the greater community and ecosystem to create things we can’t even imagine yet.”
In a video released can be seen what seem to be oracles, outsourced computers, data sharing, dollars and euros moving on this new network. Here is what on crypto twitter had to say…
Q might be enabling fiat-based #SmartContracts. So imagine a smart contract that is able to be executed based on fiat deposited into a traditional bank account. This will be HUGE for institutions. #IOTA #Qubic
— Fev (@Fevzii) May 3, 2018
Watching the #Qubic video is like watching #starwars again for the first time. #iota is now miles ahead of its competion. 👏 to CFB and the IOTA team. What an incredible announcement!!! https://t.co/b7ylLsGH4Z
— IOTA NZ (@IOTA_newzealand) May 3, 2018
Moreover, Mr. Sostenbo asked not to pester Eric, Paul, CFB, or Sam, part of the team behind IOTA, apparently, they will not be revealing any further details.
At the moment of writing this article, IOTA is one of the virtual currencies that registered the biggest change in the market. It is growing 10% in the last 24 hours and each coin can be bought for $2.5 dollars. Its market capitalization is close to $7 billion and is the 9th cryptocurrency by importance in the market.
IOTA can be used for many different applications and it is being embraced by many companies all over the world. We can mention Bosch, Volkswagen, Luxoft, BNY Mellon, and many others. It is also worth checking out their Trinity desktop wallet which has been gaining media attention as of late too.
Also in the news it seems IOTA will be added to Cobinhood cryptocurrency trading exchange listing and should cause another nice speak for mIOTA coin.