10x upgrades uncover real potential
20th August 2020 |
Yesterday was an important step forward for our sole crypto recommendation, IOTA.
The first phase of its upgrade to IOTA 1.5 took place. This step, also known as Chrysalis, is a key step towards the Coordicide full release.
Yesterday, the Chrysalis upgrade were deployed and there’s some key aspects that continue my conviction of the huge potential IOTA has in store.
The most noticeable is the giant leap in transactions per second (tps).
The IOTA Foundation blog explains,
Up until now, the network was only able to consistently handle Transactions per Second (TPS) in the 5 to 20 range. Nodes, especially those running older node software, would start to struggle above 40 TPS. With the whole network upgraded to Hornet nodes, improved tip selection and milestone selection algorithms, and the addition of white flag, the network is now able to support over 1000 TPS.
That’s a massive step forward, and it goes on to say on the testnet it’s actually been able to see 1,500 TPS, which shows there’s much more scope as well.
Confirmation times have also improved 8-fold, down to 10 seconds from 80 seconds.
The foundation also suggests to, “Please make sure to update your Trinity Desktop version. A Trinity Mobile update is also required but we are still awaiting reviews from Apple and Google.”
All signs are that Chrysalis has been a success, and the second stage of Chrysalis to come later this year will improve everything further. This is a big part of ensuring there is a level of confidence and trust in IOTA from enterprise that is looking to leverage its network technology.
And of course once the full implementation of IOTA 1.5 is complete, that puts everything another step forward to the full release of Coordicide, which will be the biggest milestone of IOTA thus far.
This massive leap forward as well as the momentum building in the crypto markets at the moment, has also led me to review the buy limit I put on IOTA. Now I think the time is right to continue to accumulate and to find an entry if you haven’t yet.
As a reminder, I’ve put together a report, Ultimate Starters Guide to Crypto, to help you with getting some IOTA, and just general information on the crypto world as well. You can find the report in your login to Frontier Tech Investor.
With things heading in the right direction, I’m raising the buy limit on IOTA to 60 cents.
That gives some scope and room to get a solid position as this new network really continues to hit its stride.
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I’ve brought together some of the finest minds in crypto, technology and futurism to discuss bitcoin, cryptocurrency and the potential future of this exciting space. I’m releasing the interviews and all bonus content over the space of next week, and I’m making it all available to you as a subscriber of Frontier Tech Investor completely free.
Why after market?
Finally, just a reminder that last week I published your August recommendation, Velocys (LSE:VLS).
If by chance you’ve not seen the report, make sure you do. I set a wide buy-up-to price on the stock and on the Friday in trading ranged between 6.7p and 7.9p closing well under my buy-up-to price of 7.5p.
That means there was ample opportunity throughout the Friday to find an entry to the stock under the buy-up-to price. This week it’s been up and over and back under the buy-up-to price, but continued to present multiple opportunities to enter the stock, which means we’re about on target with our buy-up-to price.
I’ve used the open price of 6.78p for track record purposes, albeit I’m well aware everyone will have a different entry point within the buy-up-to range.
And just one final thing, as to why I release the recommendations after the market close. I get a few emails (not loads, but a few) lambasting me for sending the recommendations after the market close.
I do this because of the thousands of subscribers I have here at Frontier Tech Investor and I don’t expect that every single person will be refreshing their email at every minute of the day when we’re scheduled to release a new recommendation.
If I were to send out a recommendation at 2pm, for example, then a bunch of subscribers might catch it right away, read it, and make their trades in the market. But there might be another batch that doesn’t get it until 4pm and then by the time they’ve had a chance to review it, the volatility has already kicked in.
Perhaps you’re one of the people that gets to it hours after others have. The question is how would you feel if others had a chance to make a move on a recommendation hours before you did in the market?
That’s why I release after market. I’ve decided that’s the fairest way to give everyone a chance to read the report in full, digest the information and then place a trade into the market at a price they’re comfortable with within our buy-up-to range.
I know it’s not a perfect system, but it’s better and more fair than random releases of new recommendations during the market trading hours.
Not everyone will agree with me on this process, but that’s the way it’s going to remain.
If you’ve got any questions on IOTA, Velocys or anything else as part of your subscription, make sure to fire any questions or comments my way at sam@southbankresearch.com.
Regards,
Sam Volkering
Editor, Frontier Tech Investor
