IOTA Foundation Announces the Introduction of IOTA 2.0
The IOTA Foundation has unveiled the introduction of IOTA 2.0, a groundbreaking protocol that embodies its vision of digital autonomy for all. This protocol marks the beginning of the much-anticipated removal of the coordinator, paving the way for true decentralization.
With a meticulously rebuilt architecture, IOTA 2.0 sets itself apart from other distributed ledger technologies (DLTs) by being public, decentralized, parallelized, democratic, and sustainable. This revolutionary protocol harnesses the power of IOTA’s Tangle, a Directed Acyclic Graph (DAG) architecture that offers various new value propositions.
One of the key features of IOTA 2.0 is an innovative accounts system, which eliminates fees for token holders, providing a seamless user experience. The protocol also utilizes a collaborative, asynchronous Nakamoto-based consensus mechanism, ensuring efficient and secure transaction processing. Additionally, IOTA 2.0 introduces reality-based conflict resolution, further enhancing the network’s robustness and reliability.
The IOTA Foundation is committed to keeping the community informed and will regularly release resources explaining the IOTA 2.0 protocol. This latest update is the first of a series that will provide detailed insights before the protocol is introduced as a network.
Over the past months, the IOTA Foundation and Shimmer teams have been working diligently to enhance functionality, conduct research, and engage with the community. This collaboration demonstrates their dedication to driving innovation and contributing to the growth of distributed ledger technology.
Since the launch of the ShimmerEVM Testnet, which occurred in March, the network has experienced exceptional performance with over 3 million blocks and 15 million transactions processed. Notably, the Treasures of Shimmer campaign attracted considerable participation and generated 10 million transactions. This successful testnet activity has validated the improvements made by integrating feedback from the campaign.
Efforts have been focused on finalizing improvements for launching ShimmerEVM on Shimmer, in line with the community’s feedback. With these significant developments and collaborations, the IOTA ecosystem is primed to revolutionize the world of digital autonomy and propel the growth of distributed ledger technology.
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