Wednesday, May 12, 2021

IOTA Co-Founder Dominik Schiener: Coordicide Will Fully Decentralize IOTA

Dominik Schiener, the co-founder of the leading open-source distributed ledger platform, IOTA, has recently reiterated that the rollout of Coordicide is significant to the future of the IOTA ecosystem.

In a recently conducted AMA, Dominik Schiener pointed out that Coordicide will launch the IOTA network into the era of full decentralization, stating that the team has been excellent in its quest to bring out the best for the community.

Dominik Schiener noted:

“Coordicide will fully decentralize IOTA. On the theoretical side we are doing very well to deliver what is promised which is a fully decentralized IOTA. I think the biggest risk is the implementation.”

As of now, IOTA is looking forward to releasing Coordicide in the fourth quarter of 2021, but the hope of such a time frame rests on the outcome of the incentivized testnet:

“A lot of that will depend on how well the incentivized testnet goes, that’s why we always say that the incentivized test network is the most important part of Coordicide. That’s where the research combines with the implementation to test in an open environment.”

Regarding data sharding, Dominik Schiener said, “I think when it comes to sharding, if I had to sum it up, I think the biggest risk is going to be building a solution that is going to kill IOTA adoption. In a similar way of how they said the biggest risk to Ethereum is Ethereum 2.0.”

Conclusively, IOTA co-founder noted, “With that in mind, the team have received feedback from their corporate partners to create a solution that the market wants. In large part, Chrysalis will be the culmination of that feedback.”

Biggest Upgrade in IOTA’s History Chrysalis Will Be implemented in 2 Weeks’ Time

IOTA Foundation announced the chosen date for the implementation of Chrysalis on the IOTA network, an upgrade described as the biggest in IOTA’s history. The implementation of Chrysalis is expected to launch IOTA into a new era of rapid ecosystem growth.

According to IOTA Foundation in a tweet on 8th April 2021, the Chrysalis upgrade is not only bringing improvement to IOTA’s network throughput, stability, resilience, and security by several orders of magnitude, it has also enhanced the experience of developers.


Follow us on Twitter, Facebook, Telegram, and Download Our Android App

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

Related Articles

Latest Articles