A recent rating has put IOTA ahead of Ripple XRP and Litecoin, keeping Bitcoin and Ethereum at their usual first and second position respectively. Similarly, IOTA created another significant footprint in Germany with the launch of open marketplace (OMA) which is aimed at providing a decentralized trading platform for goods and foods.
For the distributed ledger technology it offers, IOTA has garnered enormous credence in the tech industry. In April 2019, Weiss rating agency recognized the commitment of the IOTA foundation development team, rating it high ahead of many crypto projects.
Furthermore, Weiss gave IOTA more glory in its latest rating, allowing IOTA to displace Ripple (XRP) from the third position. While IOTA took the third position, Litecoin was rated 5th. IOTA zoomed past Ripple’s XRP by a step, and two steps ahead of Litecoin in the Weiss rating.
IOTA which is totally different from other cryptocurrencies, has its developers focus on developing a protocol for the internet of thing whose major aim is to be used in machine economy.
Weiss Rating earlier braced IOTA as one of the projects in the blockchain space “that any cryptocurrency enthusiast cannot afford to loss”.
Although, IOTA has witnessed setback in terms of price and ranking on the market table, it technology continues to speak for it in various sectors of the world.
IOTA-Dependent Open Marketplace Launches in 3 German cities
The IOTA-dependent Open Marketplace is launching its maiden operation in three important cities of Germany namely Berlin, Hamburg and Düsseldorf, for demonstration purposes, the team has mentioned in a blog post.
The IOTA Open Marketplace, designed as a competitor to Amazon, Uber among some other platforms, offers a peer-to-peer decentralized market place for sellers and buyers. This platform allows sellers and buyers meet directly without the influence of middlemen. The team behind the project noted that the innovation is still in its infancy stage.
The IOTA technology offers anonymous processing of transactions and makes it easy for everything to be done on the marketplace free of charge.
Having launched in the three German cities, the open marketplace has begun to enjoy the patronage from few pharmacies and bakeries.
According to a recent result by the CODEVID19 Hackathon, the IOTA Open Marketplace project was rated the fifth week best application. Even prior to the fact that the project is still very much in its early developmental stage.