Tag: IOT

Jasmy Lab Partners with Kana Labs to Promote JasmyCoin and IoT

by Blockchain News

Key Takeaways

  1. Partnership aims to “expand the Jasmy ecosystem,” as stated by Jasmy Lab.

  2. Kana Labs to provide its Account Abstraction SDK for cross-chain accessibility of JasmyCoin.

  3. Collaboration targets market expansion in Korea, India, and Western countries.

In a move that signals growing synergy between the blockchain and Internet of Things (IoT) sectors, Jasmy Lab has entered into a strategic partnership with Kana Labs. The collaboration aims to “offer the utility of its proprietary cryptocurrency ‘JasmyCoin’ and to promote the global growth of both projects,” according to an official announcement made just an hour ago.

Strategic Collaboration

Jasmy Lab, a company that has been at the forefront of IoT and data sovereignty, has entered into what could be a game-changing partnership with Kana Labs, a leader in Web3 and blockchain infrastructure. “This collaboration aims to expand the Jasmy ecosystem,” according to the official announcement. The partnership is expected to leverage the unique strengths of both companies, thereby mutually enhancing their global footprint.

Technical Aspects

Kana Labs is set to extend its technological capabilities to Jasmy Lab by offering its specialized Account Abstraction SDK — Mirai & Web3 Middleware SDK. This move will “facilitate cross-chain accessibility for JasmyCoin (JASMY) and seamlessly integrate Jasmy Lab private chains with public chains,” the official statement elaborated. The integration of these technologies could set a new standard for how blockchain and IoT can work in tandem for greater efficiency and security.

Market Outreach

The partnership also includes joint marketing efforts aimed to “bolster Jasmy Lab presence in the Korean, Indian, and Western markets,” as noted in the announcement. Jasmy Lab, in return, will assist Kana Labs in their foray into the Japanese market, a move that could potentially open new avenues for both companies.

CEO Statements

HARA, the CEO of Jasmy Lab, expressed optimism about the partnership, stating that Kana Labs will “play a pivotal role in enhancing the utility of our token, a significant aspect of Jasmy’s roadmap.” Karthik Subramaniam, CEO of Kana Labs, echoed this sentiment, highlighting the potential for “extending our use cases into the IoT sector and the Japanese market.”

Future Implications

The collaboration between Jasmy Lab and Kana Labs is not just a partnership but a strategic alliance that could redefine the landscape of blockchain and IoT technologies. With both companies expressing high expectations for mutual growth and success, the partnership could serve as a blueprint for future collaborations in these rapidly evolving sectors.

Recent Moves by Jasmy

Jasmy is active in expanding its Jasmy ecosystem recently. On August 29, the company launched its Jasmy Chain, a Layer 2 solution based on Ethereum aimed at data transparency and security. A day later, Jasmy entered into a strategic business agreement with PiLab, focusing on advanced blockchain technologies. Earlier, on August 4, Jasmy partnered with DWF Labs to promote the global expansion of the IoT blockchain sector.

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What is Helium Mining?

by Blockchain News

Helium mining is the process of providing wireless coverage for the Helium Network, a decentralized network designed to support Internet of Things (IoT) devices. Participants, known as helium miners, deploy helium mining hotspots to contribute to the network’s coverage and are rewarded with tokens. Helium is “a global, distributed network of Hotspots that create public, long-range wireless coverage for LoRaWAN-enabled IoT devices and cellular devices”.

The Helium Network and Helium Mining Hotspots

Launch Date: 2019

Mission: To create a decentralized, open-source, accessible, and secure wireless network.

Coverage: Helium miners have deployed almost one million Hotspots in over 77,000 towns and cities across 192 countries.

Helium Mining Hotspots: Devices like the bobcat miner, linxdot, rak miner, and nebra helium miner are popular helium hotspot miners used to mine HNT tokens.

How to Mine Helium (HNT)

1. Choose a Helium Miner (Hotspot)

Full Hotspots: Capable of receiving all rewards for participation, including proof-of-coverage activities.

Light Hotspots: Software-based hotspots that perform similar functions to full hotspots.

Data-Only Hotspots: Focus on transferring data and receive rewards only for data transfer.

Helium 5G Hotspot: For mining MOBILE tokens, you’ll need a Helium 5G Hotspot and compatible CBRS Small Cell Radio.

Since the Helium community approved HIP 19, users can buy devices provided by third-party manufacturers and vendors which producing and supplying “hotspots that mine Helium tokens for providing wireless connectivity.” Typical venders include Atom, Bobcat, Atom, ClodPi, COTX Networks, Dragino, FreedomFi, Nebra, among others.

Connect the Helium Console and Wallet:

2. Helium Console: Manages the data transfer from IoT devices to the Helium Network.

Helium Wallet: Accumulates the HNT tokens that you receive. Wallet options include the Helium Hotspot App, Command Line Interface wallet, and Helium ledger wallet.

3. Physical Installation of the Device:

Connect the Antenna: Ensure that the antenna is connected to the antenna port.

Power Up and Connect: Turn on your hotspot and connect it via your phone using Bluetooth.

Register the Hotspot: Follow the instructions in the Helium app to register the hotspot.

Wait for Syncing: Allow one or two days for the information to complete syncing before you can start mining HNT.

4. Optimize Your Helium Miner:

Height: Mount your antennas higher to improve mining performance.

Antenna: Choose the right gain and shielding for your antenna.

Proximity: Consider the distance from other hotspots to avoid competition or isolation.

5. Earn HNT Tokens:

Transferring Data: Earn HNT through transferring data to other devices in the network.

Proof of Coverage (PoC): Participate in PoC challenges to prove the quality of the coverage.

5G Mining (MOBILE Tokens): By setting up a Helium 5G Hotspot, you can earn MOBILE tokens for providing Helium 5G coverage.

Tokens and Economics in Helium Mining

HNT Token: The native token of the Helium Network, mined by HNT miners or HNT token miners.

Data Credits (DCs): Used to pay for data transfer, network-related fees, and data transfer on IoT and Mobile networks.

IoT Token: A token associated with the Helium IoT Network.

Mobile Token: A token associated with the Helium Mobile Network.

SOL Token: Used for transaction fees on the network after migration to Solana blockchain.

Migration to Solana (SOL) Blockchain

Date of Migration Completion: April 19, 2023

Reason for Migration: Enhancing scalability, expansion, and reliability for helium miners.

Community Involvement: The Helium community voted for the migration.

Benefits for Helium Miners and Users: Smart contract functionality, new feature possibilities, lower costs, access to DeFi, network efficiency, SPL compatibility.

Impact on Tokens and Helium Mining Hotspots: Changes to HNT mining, governance, and foundation funding.

Integration with Existing Solana Programs: New tools, services, and features for the Helium Network.

Roaming Integration and Helium Hotspot Miners

Extended Coverage: Helium hotspots communicate with other networks, extending reach and connectivity.

Interoperability with Other Networks: Interaction with other LoRaWAN networks through roaming agreements.

Enhanced Functionality for IoT Devices: Continuous connectivity for IoT devices across different network coverage areas.

Economic and Strategic Benefits: Expansion of coverage without significant investment in new infrastructure.

User Perspective: Seamless experience as devices move between different network coverage areas.

Reason for Roaming Integration: The explosive growth of the Helium Network has led to the creation of roaming integration, enabling the network to offer both public and private LoRaWAN networks access to its coverage. This integration allows for faster deployment of applications in more markets at a lower cost and with less hassle, contributing to the network’s expansion and accessibility.

Enterprise Solutions and Helium Mining

Helium offers carrier-class multi-provider and multi-band IoT networks for various sectors, including cities, industries, ports, ships, and seas.

Helium Mining Hotspots: Devices such as the bobcat miner are instrumental in building these networks.

Summary

Helium mining, through the deployment of helium mining hotspots like the bobcat miner, linxdot, rak miner, and nebra helium miner, has created a decentralized wireless network that supports IoT devices. The process of mining involves purchasing and setting up specialized hardware, providing network coverage, earning rewards, and staying informed about network developments and opportunities.

Roaming integration is a significant aspect of the Helium Network, enhancing its reach, functionality, and value, facilitated by helium hotspot miners. The migration to the Solana blockchain has been a pivotal moment, enhancing the network’s scalability, efficiency, and utility. With its innovative approach, Helium continues to redefine wireless connectivity, making it accessible and secure for all.

The Helium Network’s growth and the continued development of helium miners and helium mining hotspots position it as a leading force in decentralized wireless technology.

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Combining Blockchain with IoT and AI can Trigger More Accurate Weather Forecast, HashCash CEO Says

by Blockchain News

For accurate futuristic decision-making in weather forecasting, blockchain ledgers should be integrated with artificial intelligence (AI) and the internet of things (IoT), according to HashCash Consultants CEO Raj Chowdhury.

Chowdhury stated:

“Widespread proliferation of IoT sensors has successfully established its uses across the weather departments, while AI/ML is being used for forecasting. The last remaining thing is establishing “trust” in the data’s accuracy- which is something blockchain excels at with consensus protocols, immutability, and transparency.” 

Since weather departments collect huge amounts of data needed for forecasting, blockchain technology can come in handy in accumulating weather-centric parameters, such as humidity, wind direction, temperature, and atmospheric pressure. This information can come in handy for logistics shipping and agriculture companies.

 

Furthermore, a decentralized blockchain ledger can render real-time transaction visibility. Chowdhury added:

“Reliable information has always been critical to success. The ongoing age of digital transformation may have revolutionized the way we acquire data, but everything is left to chance without validation. This is exactly why all top organizations in the world are already using blockchain.”

Meanwhile, the World Economic Forum (WEF) recently established a Crypto Sustainability Coalition to investigate the capability of Web3 and blockchain in tackling climate change, Blockchain.News reported. 

 

The WEF noted that blockchain tools would propel transparency in the worldwide carbon credits market, whereas crypto mining would trigger renewable microgrids through off-peak demand and decentralization.

 

On the other hand, a report by Chainlink Labs and Tecnalia noted that blockchain technology could help fight the climate crisis through smart contracts. As a result, blockchain was expected to act as a stepping stone towards addressing economic complexities and interoperability when transiting to renewable energy.

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Global Blockchain IoT Market Expected to Generate Returns Worth $5.8 Billion by 2026

by Blockchain News

The global blockchain IoT market is expected to offer a revenue of $5.802 billion by 2026, a study from Research Dive says.

With the internet of things (IoT) being increasingly implemented by many end-use industries across the globe, this is expected to be among the key drivers of growth in this sector. The finding shows a compound annual growth rate (CAGR) of 91.5% during the forecast period.

Furthermore, governmental initiatives on smart contracts and automation are anticipated to facilitate the development of the blockchain IoT market. 

Per the report:

“The hardware sub-segment is expected to grow exponentially with a CAGR of 93.6% during the forecast period. Tenacious tasks incorporated by the hardware in IoT systems are expected to accelerate the growth of the blockchain market sub-segment during the forecast period.”

Ample opportunities are expected to create by the continuous technological advancements in the blockchain ecosystem. For instance, smart cities are forecasted to have a CAGR of 39.9% because blockchain triggers convenient data tracking, seamless transactions and minimizes security breaches.

Moreover, asset tracking and management are crucial in machinery supervision on the manufacturing floor. As a result, this factor is predicted to drive further growth in this sector.

Some of the key players in the blockchain IoT market include IBM Corporation, Amazon.com, the Ethereum Foundation, Intel Corporation, the Linux Foundation, Cisco Systems, and Microsoft Corporation.

In 2019, IBM revealed its intention to offer a blockchain and IoT solution to curb drone theft. This idea was coined because drones might steal packages instead of delivering them. 

Therefore, IBM saw it fit to incorporate an IoT altimeter, which could be triggered if a liftoff happened. Furthermore, the altimeter could track the package’s information like attitude and store it on a blockchain platform. 

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Global Blockchain IoT Market Expects to Record $5.8 Billion Revenue by 2026

by Blockchain News

According to a report by Indian-based market research firm Research Dive, the global blockchain IoT sector will likely register a revenue of $5.802 billion by 2026. Therefore, recording a compound annual growth rate (CAGR) of 91.5% during the forecast period from 2019 to 2026.

Per the announcement:

“As per the analysts of Research Dive, rising implementation of the internet of things (IoT) in various end-use industries and the growing necessity for streamlining business processes and IoT security across the globe are the major factors anticipated to accelerate the growth of the global market over the forecast period.”

The report also noted that the significant adoption of digital identity and blockchain services for smart contracts would enhance growth in this market. 

Asset tracking and management to record the highest revenue

Research Dive acknowledged that asset tracking and management played an instrumental role in managing physical assets and checking machinery performance from a manufacturing aspect. As a result, this segment is expected to be the most profitable over the forecast period. 

On the other hand, the hardware area is anticipated to record a CAGR of 93.6%. This is because the hardware in IoT networks performs tasks like collecting data from the source location and transmitting it to cloud systems where the needed roles are performed.

The growth of smart cities is anticipated to boost this market by generating a revenue of $639.4 million.

Prominent market players include Microsoft Corporation, KrypC, Intel Corporation, Amazon.com, Cisco Systems, IBM Corporation, and the Linux Foundation.

Meanwhile, the blockchain-as-a-service (BaaS) market is speculated to hit $15.8 billion by 2026, driven by high immutability and secure decentralisation. 

Small and medium firms have leveraged blockchain-as-a-service tools and services to develop smart contracts, payment systems, and decentralised applications.

Furthermore, the high cryptocurrency adoption rate and notable investments in blockchain-based projects by nations like Japan, the United Kingdom, and the United States are expected to enhance the BaaS sector. 

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IoTeX is Eating IOTA’s Market Share with 1.3 Update

by Btcmanager

Since IoTeX was started in 2017, I’ve been closely following their progress towards implementing a blockchain-based future for the Internet of Things (IoT). Over the years, they’ve successfully developed a highly-scalable blockchain with lightning-fast and incredibly low-cost transactions. Their blockchain platform not only powers the many digital applications running on Iotex, but also smart devices such as their CES award winning secure home security camera UCam, as well as their real-time environment tracker designed for supply chain implementation, the Pebble Tracker.

In fact, this is why IoTeX has an edge over other notable IoT solutions such as IOTA. IOTA was the earliest blockchain and IoT solution but due to its centralized architecture, it hasn’t delivered on its ambitions and is falling behind at this point. On the other hand, IoTeX is building nonstop, supporting developers with consistent new releases of software and real-world devices. Its decentralized infrastructure is fundamental to ensuring that no one but you owns your data and digital assets. So in a world where IoT (Internet of Things) is projected to become the next industrial revolution, I’m waiting to see how Iotex will be implemented globally to secure and power the billions of connected devices arriving in our near future.

“IoTeX is the first blockchain platform to power real world devices that allow everyday people to own and control their devices, as well as the data and value their devices generate. This is the foundation of IoTeX as we build out the Internet of Trusted Things. There are billions of smart devices that can be connected. IoTeX is leading the way to secure connectivity,” said Art Malkov, Head of Growth, IoTeX.

Being technically inclined, I love exploring the fine details of both technology and design. While IoTeX provides extensive reports of their changes, to save you time I’ve provided a summary of what’s most relevant. Below are the 5 main takeaways that you should know about IoTeX, their recent updates, the current blockchain implementation, and why it matters for the future.

1) Extremely low-cost, ensuring affordable transactions for all.

Right now, transaction and data transfers cost as little as one-fiftieth of a U.S cent, and with the 1.3 update, these costs have been dropped even lower. For the cost of a $3 dollar cup of coffee, you’ll be able to perform 15,000 actions on the Iotex blockchain. To put that in perspective, that same cup of coffee might get you one or two transactions on Bitcoin’s network. These low fees enable developers to deploy applications and devices for significantly lower costs than other networks, letting them build more, for much less.

2) The blockchain is as fast as lighting — no waiting for your transactions.

IoTeX transactions are one of the fastest in the industry: While other blockchains can take minutes to process and confirm a transaction, Iotex is able to confirm transaction blocks in mere seconds. To compare, Bitcoin can process four transactions per second and Ethereum can process thirty, but Iotex is capable of 1,000 transactions in just one second. With version 1.3, Iotex has been further updated to adopt the latest Ethereum improvements, further speeding up computations.

For an IoT application, where real-world data is being used to initiate transactions, fast transaction speeds are vital to ensuring network functionality as billions of smart devices come online in the coming years. Even compared to other IoT-focused projects such as IOTA, where transaction confirmations can take up to three minutes, Iotex has a clear advantage. These blazing fast transaction speeds are vital to making sure that applications and real-world devices are able to function efficiently with minimal delay between data transfers.

3) Up to date with the latest version of Ethereum— any developer who’s built applications on Ethereum can easily build on IoTeX.

With the 1.3 update, Iotex now fully supports Ethereum’s Istanbul upgrade, an extremely popular platform for blockchain application development. Anyone who has written an application for the Ethereum Virtual Machine (EVM – essentially a blockchain-based computer) should be able to import it onto Iotex with ease, with full support of the new features provided by the latest EVM, giving developers more tools while improving speed and security. This upgrade increases the utility and compatibility of the Iotex platform, and in combination with its speed, low fees, and security, makes it an even more powerful environment for IoT application development.

4) Creating and supporting smart devices to power the connected future.

It’s been forecasted that there will be more than 41 billion IoT devices by 2027, creating a massive market of connected devices that benefit from Iotex and its blockchain-IoT integration.

Since its inception, IoTeX has broken ground on this mostly untapped market, powering two real-world smart devices built around the integration of IoT and blockchain. Iotex and its heavy focus on smart devices is something to keep a close watch on: I’m sure that we’ll be seeing rapid growth in this relatively unexplored sphere.

Here are quick descriptions of the two smart devices they’ve already released, to give you an idea of what IoTeX is aiming for in the future.

The Ucam home security camera gives users full privacy over their video data by replacing the traditional username and password, which can be easily compromised, with a randomly generated blockchain-based login. This gives its consumers not just uncrackable security, but the peace of mind that their video is viewable by no one but them.

The Pebble Tracker is able to gather real-world data, such as location, gyroscopic data, and temperature, verify the data’s legitimacy, and then send this data to the blockchain, where anyone can see it and verify it themselves. Since the information gathered by Pebble is verifiable by anyone, it can be trusted by everyone.

As an example, suppose a car rental company wants to enact and enforce a no-smoking policy and certain mileage limits. The company could collect this data with the Pebble’s GPS and air quality sensors, which is tamper-proof and available for anyone to see. Now the customer doesn’t need to worry that the rental company is making false accusations, and the rental company doesn’t need to worry about their tracker or their data being somehow modified.

For all of these years, IoTeX has dedicated itself to designing and creating a brilliant product that solves the main issues of blockchain-based IoT. In addition to today’s 1.3 update, they’ve just launched a new site this week alongside the blockchain update, and their native token $IOTX has just been listed on Bitmart, marking its entrance to the US market. These upgrades to IoTeX and its ecosystem mark a major step on the path towards bringing IoT and blockchain together on a larger scale.

So far, the Iotex network has proven itself as a highly efficient, fast, inexpensive blockchain network. It’s also shown how such a network can have extremely useful and marketable industry applications. I will be watching closely to see how things develop in the future, but right now IoTeX is clearly leading the charge when it comes to IoT and blockchain integration.

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IOTA’s ICCA Is Now Live on GoShimmer

by Btcmanager

The IOTA Congestion Control Algorithm (ICCA) is now implemented into GoShimmer. Congestion happens when a network has more traffic than it can accommodate. Without proper congestion management, the network may become oversaturated and fail to operate because nodes can overload their neighbors with more messages than can be managed by an individual node.

ICCA Layering on GoShimmer 

By adopting a layer-based approach, GoShimmer modularity allowed further progress. The first layer covers messages; each message includes metadata like the trunk, branch, timestamp, and other information concerning the identity of the issuer node and the payload.

Each payload has a type and some data. Users may interpret data appropriately based on its form (e.g., dRNG type, value transaction). The second layer is the “interpretation layer.” In addition, there is the application layer, where a protocol can leverage the information given by the underlying layer. 

IOTA’s Plan for the Future

The dRNG is also incorporated into its first iteration. This is whereby committee members can run the grand application’s IOTA version and send collective feeds through a GoShimmer node to the network. They can check the correctness of the collecting beacons against the distributed public key by each node.

IOTA has worked on several minor improvements such as improved visualization of the network, both client and server. It has also incorporated a plugin manager which enables developers to easily add and manage plugins, automatic integration tests, versatile and more flexible autopeering that solves previous NAT limits and reverse proxy related restrictions.

Solving Congestion Using Coordicide

According to IOTA’s blog report, the ICCA accompanies the recent update Coordicide(IOTA 2.0). IOTA aims to solve network congestion issues that render the transmission of messages from one node to another a nuisance. 

Using the ICCA algorithm, nodes can select which message should be relayed to their neighbors. IOTA acknowledges that an oversaturated network is a rough experience for node operators all over the crypto industry.

Coordicide distinguishes IOTA from other DLTs(Distributed Ledger Technology) by making it a decentralized and permissionless network. Additionally, the upgrade has enhanced transaction speeds by cutting the time taken by confirmations from third-party entities.

In March this year, IOTA launched a new version of Pollen testnet v0.5.0. The launch birthed Mana, a security protocol made to prevent attackers from exercising Sybil attacks. Mana also acts as data that removes the possibility of forging an identity for Coordicide modules, ICCA included.

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IoTeX Appointed as Vice Chair of the IEEE Standard for “Blockchain Use in IoT”

by Btcmanager

Leading Internet of Things (IoT) blockchain project IoTeX’s Head of Cryptography has been appointed the Vice Chair of the IEEE Standard for “Blockchain use in IoT.”

Another Milestone for IoTeX

IoTeX, an EVM-compatible blockchain geared toward the IoT economy today announced that its Head of Cryptography, Dr. Xinxin Fan, has been appointed as the Vice Chair of the IEEE P2418.1 Standard Working Group “Framework of Blockchain Use in Internet of Things (IoT).”


For the uninitiated, the aforementioned standard seeks to provide a common framework for both permissioned and permissionless blockchain usage, implementation, and interaction with the IoT economy.

It is worthy of note that standards are expected to play a critical role that will aid in the rise of a market expected to reach close to $31 billion worldwide by 2030 with 73.5 percent annual growth, says Fan.

Fan notes:

“The IEEE has been instrumental in creating global standards for emerging technologies. I’m honored to participate in this process for blockchain IoT, which will benefit from standards that boost interoperability while protecting privacy and fueling innovation. These are the building blocks that bring even more enterprises on board with blockchain IoT.”

Standards Critical for Blockchain and IoT Adoption

As previously mentioned, the aforementioned standards are important for blockchain and IoT as both ecosystems involve a complex cobweb of connectivity across several devices developed by hundreds of different companies.

Unsurprisingly, interoperability has emerged as a key component of the working group’s role in developing standards that will leverage the full potential of the blockchain innovation ecosystem, noted Ramesh Ramadoss, the co-chair of the IEEE Blockchain Initiative. He adds:

“Standards help with the growth and adoption of new technologies by lowering the technical barriers. In the blockchain space, lack of interoperability is a technical barrier. The way devices are connected to blockchains to enable decentralized machine-to-machine communications should follow a universal standard. Standards will align data formats, achieve interoperability across systems, and aid adoption of this innovative technology.”

Fan stated that the involvement of individual researchers, startups, global companies like IBM, GE, Dell, and Huawei with the IEEE puts it at the forefront of building standards and aligning stakeholders across all emerging technologies.

“By co-creating standards with industry experts, IoTeX is committed not only to innovation in the blockchain space via our real-world products, such as Ucam and Pebble Tracker, but also the research/standards space via our leadership positions in the IEEE and IIC to help shape the future of blockchain and IoT,” Fan concluded.

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Bitcoin bulls attack $57,000 and altcoins rally as April comes to a close

by Cointelegraph

Bitcoin (BTC) and the overall cryptocurrency market sprang to life on April 30 as an uneventful close to this month’s $4.2 billion options expiry occurred without any signs of controversy. 

Data from Cointelegraph Markets and TradingView shows that after a brief dip below the $53,000 support level on April 29, the price of Bitcoin staged a 10% rally back above $57,400 by midday.

BTC/USDT 4-hour chart. Source: TradingView

The revelation from MicroStrategy CEO Michael Saylor that the company saw a 52% surge in revenue compared to the same quarter last year will likely strengthen the argument that organizations should hold Bitcoin on their balance sheet as a way to combat inflation as well as attract new investors.

Central bank digital currencies (CBDC) are also gaining traction as the Bank of England revealed that it is moving ahead with plans to launch a digital pound and the central bank of France made headlines on April 29 after settled a $100 million Euro bond using a CBDC that was hosted on the Ethereum (ETH) network.

Altcoins show significant strength

While much of the mainstream news and focus from analysts revolves around Bitcoin and Ethereum, a handful of altcoins caught the attention of traders on Friday as their prices saw double-digit gains

One of the strongest performers of the day was IoTeX which surged 75% to a new all-time high at $0.085. The blockchain project is focused on solving the issues of scalability, privacy and high operating costs which are limiting the mass adoption of the Internet of Things (IoT) ecosystem.

IOTX/USDT 4-hour chart. Source: TradingView

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for IOTX on April 27, prior to the recent price rise.

The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historic and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.

VORTECS™ Score (green) vs. IOTX price. Source: Cointelegraph Markets Pro

As seen in the chart above, the VORTECS™ Score began to climb on April 26 and reached a high of 76 on April 27 before spiking to 73 again on April 29. It’s worth noting that the VORTECS™ Score hit 73  roughly 10 hours before the price spiked 75% to a new all-time high at $0.0857.

A second coin that has been performing well over the past couple of days and is now registering a VORTECS™ Score of 95 is PARSIQ (PRQ), an analytics platform that offers cutting-edge tools for the analysis of blockchain technology across a variety of industries.

VORTECS™ Score (green) vs. PRQ price. Source: Cointelegraph Markets Pro

Bullishness for PRQ was first detected on April 28 when the VORTECS™ Score reached the green zone. The score stayed near that level (67) over the next day and then rapidly climbed to a high of 95 on April 30 as the price of PRQ rallied higher.

A score of 95 is one of the highest scores ever registered on the VORTECS™ system, and previous instances of scores in the mid to high 90’s have been shown to precede further price appreciation, as was recently demonstrated by Polygon (MATIC) this week.

Daily cryptocurrency market performance. Source: Coin360

Generally, altcoins rallied across the board, boosting the total market capitalization to $2.177 trillion while Bitcoin’s dominance rate slipped to 48.8%.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.