• IOTA is working on the world's first industry marketplace.
  • IOT/USD stays range-bound, vulnerable to the further downside correction.

IOTA Foundation launches industry market place to facilitate an interaction between humans, machines and smart contracts, according to the press release published by the company. 

"The IOTA Foundation is proud to announce the release of the Industry Marketplace, the world’s very first autonomous and decentralized virtual marketplace. After forming a consortium of world-leading academics, standardization bodies, enterprises and thought leaders, we are excited to present our joint development that will greatly accelerate industrial automation and commercial machine interaction,” the announcement goes.

The company promises that the Marketplace will be a vendor and industry-neutral platform that will help to automate trading via new forms of collaboration between companies combined with global communication and computing infrastructure. 

"By combining distributed ledger technology with established standards and openly-developed specifications, the Industry Marketplace will spearhead Industry 4.0 and create a platform for the economy of things,” according to the press release.

The specifications of the platfrom are developed by German central network for the advancement of digital transformation in manufacturing,  Plattform Industrie 4.0. It includes such features as Distributed ledger technology, Immutable audit logs, Machine-readable contracts to name just a few.

Meanwhile, IOTA, the 17th largest digital asset with the current market value of $810 million, has gained over 3% in recent 24 hours to trade at $0.2926 at the time of writing. The coin topped at $0.3158 on September 18 before the correction started. IOT/USD is still sitting outside the daily Bollinger Band, which means that the downside may be extended within the natural technical retracement process.

IOT/USD, the daily chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin, Ripple and Ethereum begin consolidating

After finishing the month of July in incredible style, cryptocurrencies across the market have taken step back led by Bitcoin, Ethereum and Ripple. Bitcoin, for instance, is settling for consolidation between the support at $11,500 and $12,000.

More Bitcoin News

XRP/USD daily bull flag awaiting confirmation to breakout above $0.346

XRP/USD is trading at $0.309 while daily EMAs remain far away from the price. The daily bull flag is the most important pattern for XRP in the short-term. XRP continues fighting to remain above $0.30 ...

More Ripple News

Grayscale wants to register its Ethereum-based trust with SEC

Grayscale Investments submitted an application with the US Securities and Exchange Commission to register its Ethereum-based Trust. The company emphasized that the filing is voluntary, however, the registration will entail additional compliance requirements.

More Ethereum News

How long can TRX/USD sustain this 6-months ascending channel?

Tron price action has continued to take down key barriers from the massive losses in March. Even though the recovery has been as rapid as witnessed in other altcoins, TRX/USD price action speaks slow and steady out loud.

More Tron News


Bitcoin Weekly Forecast: Fasten your seatbelts, next stop is $12,000

Bitcoin has had its best week since mid-2019. The first digital currency gained over 18% in a single week and hit the new highest level of 2020. At the time of writing, BTC/USD is changing hands at $11,358 and the upside momentum is gaining traction as Bitcoin bulls are pushing at the upper line of the weekly Bollinger Band. 

Read the weekly forecast