IOTA News and Price Analysis: First dApp Game built on Qubic Lite. Monday, July 30
Important IOTA News
First dApp Game built on Qubic Lite
Qubic protocol was a huge announcement and milestone for the whole IOTA project, potential MIOTA price and the world of technology. It allows for outsourced computations, smart contracts, and oracle machines to operate in the IOTA ecosystem.
Qubic Lite is an open-source community implementation of Qubic Protocol by microhash. Recently, the first dApp and game was created.
The game description says: "Grow and harvest food on your own farm. The first qApp and decentralized IOTA game. The game state is entirely stored on the Tangle and validated by Qubic Lite"
The implementation of Qubic, was done through Abra, a programming language developed by the IOTA Qubic team. "Abra is trinary-based because trinary systems can provide significant energy savings, a crucial consideration for IoT devices. One trinary digit, a trit, can represent 1.58 bits. The amount of wiring necessary for a trinary system can, therefore, be reduced to about 64% of an equivalent binary system, resulting in a corresponding energy reduction."
MIOTA Price Analysis
This week the whole cryptocurrency market experienced both positive price increase and sudden correction with some significant drops. The week started rather stable with small price amplitudes, and MIOTA was trading slightly below $1 mark. Then, on July 26th a first price spike happened, bringing MIOTA from $0.99 to $1.05 in a matter of hours. On July 27th the price fell again, below $0.98, but it didn't stay there long as one day later MIOTA was again on its way above $1. It is currently trading at $1.02 and it seems that the price chart is heading up.
MIOTA/USD Price Chart, Monday July 30th:
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