A couple of days ago, The Robert Bosch Venture Capital GmBH (RBVC) has made a significant investment in IOTA, which is the first investment in Distributed Ledger Technology for Robert Bosch VC.
As you probably know, IOTA has been massively growing on the market, with over 400% surges in less than 2 months. This is how the cryptocurrency reached #4 among all cryptocurrencies in terms of market cap, but is currently sitting at the fifth place.
As you probably know by now, IOTA is an open-source distributed ledger that is focused on providing secure communications and payments between machines on the Internet of Things. The revolutionary next-generation ledger utilizes a novel invention called a “tangle” as its core, which is essentially a new data structure based.
However, the investment is not the only thing making the big news lately. In addition to it, the RBVC partner Dr. Hongquan will apparently join the IOTA Foundation’s advisory board and adopt the “tangle” technology which will generalize the Blockchain protocol that lets machines on the IoT communicate and transact.
As Dr. Jiang stated:
“We have been working with the IOTA team for more than one year. I’m very excited about IOTA’s innovative tangle technology, which could potentially become the standard underlying technology for trustless machine to machine communication, security and payment in the IoT space.”
At this point, IOTA is sitting below the $4 mark but will likely continue to rise over the couple of months, should this investment be confirmed. The $10.91 billion worth market cap certainly speaks about its rising popularity.
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