With the theme of AI, IOTA technology is also becoming a focus for crypto investors.
With the hype surrounding the ChatGPT platform, the topic of artificial intelligence (AI) hit the mainstream in late 2022. While similar language models have been developed in the background, also by ChatGPT’s creator, OpenAI, millions of people are using mature AI text bots for the first time. Can IOTA benefit from the AI hype and become relevant again?
IOTA caused quite a stir in 2017 and early 2018. The reason was the technology behind the new crypto token. The Tangle was a variation of Blockchain and represented a three-dimensional network based on the Directed Acyclic Graph (DAG).
The goal of IOTA was to enable the transfer of data and information between people and machines and between machines. In 2017, the concept convinced the company Bosch, among others, which announced a collaboration.
What is the Connection Between IOTA and Artificial Intelligence?
Artificial intelligence (AI) is a topic that has seen a surge in hype in recent weeks. The release of ChatGPT in particular ensured that the topic came into increasing focus. The developments in the fund have already been very impressive in recent years.
However, with the hype surrounding a new technology, other areas want to share in this hype as well. That is why more and more AI tokens are currently being created decorated with the theme, and which are therefore experiencing strong increases. However, one token could already be the best AI token on the market, namely IOTA.
IOTA was designed for human-machine communication and, with its Tangle structure, created a theoretical basis for extremely fast communication. In recent years, though, IOTA has had to wrestle with major issues, especially with decentralization.
Can The Token Benefit from the Hype Surrounding AI?
The current hype around AI seems to be just getting started and could spur some new projects for the future. However, IOTA has not yet been able to benefit from this, and it has even fallen out of the top 70 cryptocurrencies by market capitalization in recent weeks, although the IOTA price was able to rise.
That could be because IOTA 2.0 is still in the works. With the update called Coordicide, the removal of the core coordinator in Tangle could finally be achieved. A decentralized structure could finally put IOTA back on the map.
As disclosed earlier this year, IOTA developers are now working to introduce the Coordicide update for further decentralization of the IOTA Blockchain and eventually make the switch to IOTA 2.0.
In short, the next hype about AI could be the last chance to revive interest in the token.
By Audy Castaneda
