IOTA welcomes the Launch of Qubic Project

Qubic is a complete ecosystem of distributed computing that may add value and real-world applications to the IOTA project. The Qubic system eventually launched after a long development phase.

The Qubic project may realize the promise of IOTA to include smart contracts, as it wraps up smart contracts, oracles, and distributed computation. While other platforms offer distributed computation for a tokenized fee, the IOTA tangle should theoretically use user’s resources to be scalable and perform the computations or complete the smart contracts for free, as cryptovest.com wrote.

IOTA oracle will provide information about the outside world and then tie them to the functioning of smart contracts. Whereas creating a smart contract on many platforms are easy, doing the same thing for oracles for the contract has been limited in crypto world. It is expected that future projects add tokenization to the IOTA tangle. This may lead to transforming the project into one of the cheapest platforms to complete smart contracts and offer aid in fast token creation.

However, the launch of Qubic did not accompany with an immediate bullish trend for IOTA. The market price of MIOTA sank by more than 13% overnight. The big rally for IOTA happened some days ago, still showing a weekly gain over 19%.

At the same time, 2018 seems to be the year where platforms are reaping the gains and attention, according to cryptovest.com

One of the much-awaited updates for IOTA is the release of the Trinity wallet, a proprietary wallet for MIOTA tokens. Up to now, MIOTA owners rely on exchanges and simpler wallets having sometimes troubles in finding the balances.

The IOTA Trinity wallet is now in beta phase release and is considered as one of the major indicators for the success of the project, as without an easy wallet, the adoption of many coins lags. The announcement of the Trinity Beta was the main reason for the recent spike in IOTA price. However, the downtrend is back!

 

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