The brand-new, eagerly awaited ecosystem of IOTA was finally created. Its impact on the IOTA network and the crypto currency behind the project (Miota) is very clear, as the value has increased since the first announcement of the “IOTA Ecosystem”.
At the time of writing, IOTA was valued at $2.08, an impressive 10.32% increase.
In anticipation of this start, we saw IOTA reach $2.20 last week, after a slight correction to $1.84. It now seems that IOTA is on the advance to reach new highs better than those of April or even just over $5.00. With the growth of the IOTA ecosystem, could we see IOTA reach $6.00?
What Is The IOTA Ecosystem?
The IOTA ecosystem aims to build the future of decentralised technologies. Within the ecosystem, developers can share their ideas and in return receive financial support from the IOTA Ecosystem Development Fund, which in turn can help deliver fantastic ideas for applications around the world.
The ecosystem was developed to build a community of developers and business people who all have the opportunity to contribute to the IOTA network. Through the ecosystem, the participants can meet like-minded people and actively turn their ideas and concepts into reality. With the support of the Development Fund, all supporters receive incentives and financial support, which in turn aims to expand the IOTA network.
This network has really cool implications. It allows people to participate in the development of the blockchain, provided they have the ideas and skills to do so. By allowing people to meet new people, ideas can flourish, so that the entire IOTA network becomes a centre for generating ideas. By providing funding, the IOTA ecosystem offers people the opportunity to get involved regardless of their financial situation. It is often difficult to carry out projects and implement your ideas if you do not receive financial support right from the start. This is no longer a problem with the IOTA ecosystem.
As this ecosystem grows, we should see IOTA behave like a flourishing crypto currency. For the time being, we will wait and see how this will affect the market.