The Internet of things (IOT) is a technology which is fast evolving as many established companies such as Google, Microsoft, Cisco and others are moving to harness the technology. IoT has become one of the talked about innovation in the tech world with many possibilities being touted upon.
Enabling state of the art interconnected sensors and algorithms transacting with each other within the Cyber-space promises to be the technology of the future. A huge rush for a share on this technology has started with many investors investing a lot in the scene.
The blockchain sphere has also been a major player in this technology. IOTA (MIOTA) which is ranked 9th biggest crypto by market capitalization is one of the few blockchain companies that has emerged a major player to implement this technology.
In this realm, IOTA (MIOTA) has seen its position at the top challenged by VeChain (VEN) and Waltonchain (WTC) this year due to their emergence in the cryptos as they preach for the same course.
However, this year has seen two major cryptos threatening IOTA position at the top of this niche. With both blockchains utilizing the different protocol to harness the potential of IoT in the blockchain industry.
Vechain and Waltonchain have seen an increase in its acceptance within the crypto world as several exchanges have begun accepting the tokens.
This has brought a growing question among many as to which is the best coin to Hodl between VeChain (VEN), Waltonchain (WTC) and Iota (MIOTA). We would make a case statement for each of the coin as regards IoT technology.
VeChain (VEN) Has Been Used In Different Sectors
Vechain (VEN) has built a unique platform for transactions in products and information. VeChain as one of the early blockchain technology has been able to implement its products across many sectors. With its tracking products utilized in the fashion industry and Agricultural sector.
The Blockchain sponsored by the VeChain Foundation has emerged a strong backer of the IoT and has proven to be a reliable coin in the market. the company has the ambition to interconnect blockchain technology into the mainstream world with its advanced IoT integration.
VeChain is also the desired blockchain for tracking the authenticity of products as it provides a platform whereby retailers and consumers can check the quality and validity of products. VeChain has so far proven to be the real deal with its tested principle and products.
The blockchain company has been able to pull its resources towards developing real-world solutions to several problems affecting IoT. Currently lying 19th in market cap VeChain is highly regarded in the crypto space with the company currently in partnership with many institutions.
Waltonchain(WTC) Utilises A Powerful RFID Technology
Waltonchain (WTC) is one of the cryptos known for its foray into IoT technology as it created a concept called value Internet of things t. This concept highlighted the company’s use of proprietary RFID chips in combination with blockchain technology.
This unique combination helps the blockchain to store data blocks on goods via its RFID chips. Furthermore scanning the RFID chips gives vital information on an object due to the use electromagnetic field to recognize objects.
One major advantage of Waltochain is that the RFID chip tags can be fixed on any objects and has a higher efficiency than the popularly used barcodes. Due to the ability of machines to read the information without the need to scan the code.
The RFID technology can also be used to perform transactions and access management utilizing its blockchain IoT technology. Waltonchain products have been used by some companies to track goods and can be used for verification of documents, library system and toll collections.
Waltonchain has established partnerships with some government agencies mainly the Chinese government to develop several products. The stability of the coin has also brought confidence among new investors willing to hodl the coin.
Despite The Competition, IOTA (MIOTA) Remains The Favourite
VeChain and Waltonchain have come in strong in 2018 with different partnerships and collaboration as well as improved technology. However, Iota still remains the most used platform in the IoT space with its Tangle technology still fairly better than both competitors.
Iota has shown its capacity to fulfil the position as the ideal blockchain solution for IoT devices. with advantages such as easy scalability, extensive features and numerous partnerships from top firms.
It would take a monumental effort from VeChain and Waltonchain to overtake Iota as the top crypto in the internet of things space.