IOTA Takes 1st Step Towards Roadmap 2020; Pollen Testnet Now Live

IOTA is Likely to Reap Benefits from Pollen

IOTA (MIOTA), designed for the Internet of Things, is now upgraded to IOTA 2.0, taking the first step to its roadmap 2020. The new download is the Pollen version, which is believed to be a fully decentralized test network and was released on June 29.

The roadmap 2020 of IOTA, otherwise, comprises of three stages to reach an event known as “Coordicide” that will lead to completely deleting IOTA’s coordinator. The coordinator is an integral part of the IOTA’s network, which is an application that is run by the IOTA Foundation to certify valid transactions. This is believed to be the major milestone for the network and will prove to be true to adoption and production-readiness. The success after the first update of IOTA is believed to be visible in the upcoming months.

The main features of this IOTA update are fast anticipated agreement, value transactions, Prometheus and Grafana Integration, Feeless dApps, and Tokenized assets. Additionally, Pollen’s core holds features such as New message layout, Binary, Ledger State & UTXO, Fast Probabilistic Consensus, Randomness, Local Dashboard, Grafana Dashboard, Wallet Library, Network Delay app, Client Library and API, Faucet app, and analysis server.

IOTA’s new update has led to making it business ready for providing blockchain-based upgrades and solutions to enterprises. This is likely to reap major benefits for IOTA and will lead to the massive adoption of the native token.

IOTA Price Analysis

IOTA/USD Chart By TradingView

On the daily chart, IOTA has breached the uptrend that was seen forming after the market crash in March against the US Dollar. After the massive sell-off in March, IOTA price had a slight candlewick rise above 61.80% Fib Retracement level beyond $0.258. The trading price of IOTA at press time was $0.225, and the price of IOTA/USD was seen wavering around 50.0% Fib Retracement level.

Moreover, towards the ending of the previous month, IOTA tested supports as low as $0.195 and is now drawing a downtrend since June 2020. However, the price of IOTA has remained above 38.20% Fib Retracement level in the previous month even after it was drawing a downtrend.

The technicals of laid on IOTA/USD chart are moderately bearish and do not hold steep negative crossovers with steady support from 50-day and 200-day daily MA at $0.217 and $0.204 respectively, on the daily chart. The 20-day Bollinger Bands are seen squeezing, and the price trend is already touching the lower BB due to lack of momentum and intraday setbacks.

Mehak Punjabi

Mehak Punjabi is a post-graduate in MBA with a specialization in Finance and has joined CryptonewsZ with a skill-building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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