The topic of artificial intelligence (AI) entered the mainstream at the end of 2022, thanks to the hype surrounding the ChatGPT platform. While similar language models have been developed in the background for some time, including by OpenAI, the creator of ChatGPT, millions of people are now using mature AI text bots for the first time. With the topic of AI, IOTA technology is also becoming more popular among crypto investors. Can IOTA capitalize on the artificial intelligence hype and reclaim its relevance? How high can IOTA go?
What makes IOTA unique?
IOTA generated a lot of buzz in 2017 and early 2018. The reason was the new crypto token technology. The Tangle was a blockchain variant that represented a three-dimensional network based on the acyclic-directed graph (DAG).
IOTA’s goal was to enable data and information transfer between people and machines, as well as between machines using an open-source decentralized ledger. In 2017, the concept convinced companies such as Bosch, which announced a collaboration.
What exactly is the relationship between IOTA and artificial intelligence?
Artificial intelligence (AI) has received a lot of attention in recent weeks. The release of ChatGPT, in particular, ensured that the topic became increasingly prominent. Background developments have already been very impressive in recent years.
However, when there is a lot of excitement surrounding new technology, other areas want to join in on the fun. As a result, an increasing number of AI tokens decorated with the theme are being created, resulting in significant increases. However, one token, IOTA, may already be the best AI token on the market.
IOTA was created to facilitate communication between humans and machines, and its Tangle structure provided a theoretical foundation for extremely fast communication. However, in recent years, IOTA has faced significant challenges, particularly regarding decentralization.
Can the token benefit from the AI hype?
The current AI hype appears to be just getting started, which could fuel some new projects in the future. However, IOTA has yet to benefit from this and has even dropped out of the top 70 cryptocurrencies by market capitalization in recent weeks, even though the IOTA price has risen.
This could be because IOTA 2.0 is still in the works. The central coordinator in the Tangle could be eliminated once and for all with the Coordicide update. A decentralized structure has the potential to put IOTA back on the map. The upcoming AI hype could be the token’s last chance to rekindle interest.
How high can IOTA go?
IOTA can benefit from the hype about AI. AI is transforming industries across the board, and the Internet of Things (IoT) is no exception. As IoT devices become more prevalent and generate more data, AI can help make sense of that data and derive insights that can be used to improve operations, reduce costs, and create new business models.
IOTA, a distributed ledger technology (DLT), is uniquely positioned to benefit from the hype about AI in the IoT space. IOTA’s Tangle architecture is designed to enable feeless microtransactions and secure data transfer between IoT devices, and this can be combined with AI to create more intelligent, autonomous, and secure IoT systems.
For example, IOTA’s integration with AI can enable the creation of predictive maintenance systems, where machine learning algorithms can analyze IoT sensor data to identify patterns and predict when maintenance is needed before a failure occurs. This can help companies reduce downtime and extend the lifespan of their equipment.
Overall, the integration of AI and IOTA has the potential to create new business opportunities, improve efficiency, and enhance security in the IoT space, which can lead to significant benefits for companies and end-users alike.
The price of IOTA has experienced significant fluctuations in the past, reaching its all-time high of USD 5.69 in December 2017 before experiencing a sharp decline. Since then, the price has seen fluctuations, but it has not returned to its previous high.
The overall market is very likely to recover strongly in 2023. The IOTA price may rise even further during this recovery. After all, the network is evolving, and Coordicide aims to achieve complete decentralization. An increase to $0.50 for the IOTA price is very likely in the coming weeks and months.
Is an investment in the IOTA worthwhile?
IOTA received a lot of attention at the end of 2017, and many investors overpaid for the token. Nonetheless, many investors remain optimistic about the project. With current low prices, the risk is most likely limited. Nonetheless, you should consider whether you still believe in IOTA for the future.
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