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IOTA [MIOTA] unveils QUBIC Project: Messaging and payment system

Simran Alphonso

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IOTA [MIOTA] unveils QUBIC Project: Messaging and payment system
Source: Flickr

IOTA finally gave its investors a few points to know more about the project, the team has revealed an insight of the most energetically anticipated advancements inside the IOTA group: Qubic. However, Qubic is yet to be worked upon.

IOTA Tweeted:

“The Qubic platform will be the most significant contribution to the IOTA stack, it will enable unlimited new use cases and turn the IOTA Project into a full solution. Information and details are beginning to be unveiled right now at http://qubic.iota.org
#IOTA #Qubic”

Along with this, they added a link to the IOTA Qubic website, which elaborated more about Qubic!

A few Twitter users felt that the wait was too long and product too short.

Shamhaad, a Twitter user said:

“Looks like you guys did a $XVG. Hype a lot and the announcement didn’t meet expectations.”

The announcement gives a few hints which are intended to give IOTA investors an idea about what is coming up; to better comprehend what the team at IOTA is really going after, and to help pass on the tremendous potential of the Qubic venture.

Qubic is developed into a model that the current cryptocurrency world needs. It is moulded into a unique system which is not quite the same as the first Quorum-Based Coin thought authored on bitcointalk in September 2012. Now there’s a working protocol to serve as the messaging and payment system. 

To expel a couple of regular misguided judgments about Qubic, it is anything but another token or coin and there will be no Qubic ‘ICO’ or ‘airdrop’. The first model of Qubic had difficulties to defeat issues. According to IOTA, the IOTA convention was, made to help and resolve unsolved issues related to the crypto-world. Without a doubt, IOTA was intended to end up being the worldwide standard for IoT ‘messaging’ and ‘payments.’

Qubic implements and works on that standard, and is made conceivable by free of charge IOTA exchanges, which empowers an approach to securely communicate with the outside world in a monitored and safe environment. Qubic is a powerful distributed fog computing platform for building complex IoT applications, a new type of smart contract. It collects micro-payments in real time as it runs and a reward system for incentivizing honest participation in IOTA ‘Tangle’.

It was expected that the announcement would make IOTA prices hike, which did not work. MIOTA is currently being traded at the price of $1.73, it has a market cap of $4.7 billion and has seen a fall of 10.46% in the past 24 hours.


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Simran Alphonso is a Journalist at Ambcrypto. She has a background in Financial Markets and holds expertise in Digital Marketing.

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