Monday, March 8, 2021

IOTA Co-Founder Says the Most Exciting Times For IOTA Are Yet To Come As Post-Quantum Upgrade Is Implemented

Recently, Jakub Cech, the director of Engineering at the IOTA Foundation released a blog post that speaks expressly about IOTA’s multi-vector that ranges from Chrysalis, Pollen, Bee, Hornet, IOTA Identity, and Stronghold.

Another aspect that is of note is the decision of IOTA developers to remove the signature scheme, which ensures its resilience to quantum computing.

As stressed in the blog post by the IOTA engineer, it was earlier decided to keep the IOTA protocol quantum resilient, which brought about the implementation of the Winternitz one-time signature scheme (W-OTS).

Read Also: IOTA Foundation Introduces Chrysalis towards the Realization of Coordinator-Free Mainnet

Nevertheless, it’s noticeable that the scheme is accompanied by serious drawbacks related to usability and performance.

For this reason, IOTA implements a more standard signature scheme for the protocol. The version of the EdDSA signature scheme is called ed25519. The new scheme is expected to cause the volume of transactions to drop and cause the usability of blockchain to experience a rapid increase.

According to IOTA team, the collaboration with the top-league post-quantum engineers will continue, in order to keep the protocol aligned with new NIST rules.

Reacting to the hard work of the team, Dominik Schiener, the co-founder of IOTA, said:

“The most exciting times for #IOTA are yet to come.”

Read Also: IOTA Foundation Announces the Launch of Chrysalis Phase 1 on Mainnet with Over 1000 TPS

Second Stage of Chrysalis Is Around the Corner

The second stage of Chrysalis that is generally known as Chrysalis 2 is the environment for transition towards a fully decentralized IOTA. Its public tesnet is expected to go live soonest.

According to Jakub Cech, considering the high level of readiness, the deployment of its mainnet may play out in early 2021. Specifically, Chrysalis removes WOT-S, which will make switching to Coordicide smoother.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles