Thursday, November 26, 2020
No menu items!
  • News
  • Blockchain
  • Contact Us
More

    IOTA Introduces Three Phases of IOTA 2.0 To Mark the Project’s Path to Full Decentralization

    Must Read

    Coinbase CEO Brian Armstrong Explains Burdensome Crypto Wallet Rules That Trump Administration May Rush Out

    Brian Armstrong, the CEO of the US-based cryptocurrency exchange, Coinbase, has recently hinted at the crypto community about burdensome...

    Santiment: XRP Is Set To Surpass Ethereum in a Key Metric Maintained By ETH for Seven Months

    The cryptocurrency intelligence platform, Santiment, has indicated that the third-largest cryptocurrency by market cap, XRP, is set to surpass...

    Binance Announces Support for Spark Tokens Airdrop Planned By Flare for XRP Investors

    Binance, the arguably largest cryptocurrency exchange by trading volume, has announced the support for Spark tokens airdrop planned by...
    Avatar
    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.




    IOTA, a distributed ledger technology (DLT) project based in Germany, has some hours ago introduced three phases of IOTA 2.0, marking the journey of the project to full decentralization.

    IOTA is getting ready to permanently remove the centralized coordinator node by introducing Pollen, Nectar, and Honey. The three phases are expected to precede the transformation of IOTA into a completely decentralized and scalable network.

    The Path to Full Decentralization

    Going by the blog post published on the official website of IOTA containing the details of the new development, Pollen will be the first official testnet of the upcoming network upgrade.

    According to the report, the phase will serve as the foundation of an IOTA network without the centralized coordinator. Continuous improvement is expected to develop Pollen into the eventual release of IOTA 2.0.

    The report also stated that the Pollen network will serve as a research avenue for the IOTA Foundation, community, and external researchers to certify concepts from the Coordicide white papers.

    Furthermore, the Nectar network will follow after the Pollen network is successfully released. The report also stated that the second phase Nectar will be a full implementation of Coordicide modules of IOTA on an incentivized testnet.

    Nectar network is meant to focus on testing for bugs or issues on the network that need correction before IOTA 2.0 is finally released. Nectar will also reward the participants with incentives for finding bugs and attack vectors on the network.

    As for Honey, it would be the last candidate to be released for IOTA 2.0.

    Regarding Honey, the blog post read as follows:

    “The final release candidate for IOTA 2.0, Honey, will include all of the modules according to the full and final specification of Coordicide. At this point, the network will have been battle-tested and secured through many hundreds of hours of testing with full audits of our node software. Honey can be considered the first version of IOTA 2.0, our fully decentralized IOTA mainnet.”




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Coinbase CEO Brian Armstrong Explains Burdensome Crypto Wallet Rules That Trump Administration May Rush Out

    Brian Armstrong, the CEO of the US-based cryptocurrency exchange, Coinbase, has recently hinted at the crypto community about burdensome...

    Santiment: XRP Is Set To Surpass Ethereum in a Key Metric Maintained By ETH for Seven Months

    The cryptocurrency intelligence platform, Santiment, has indicated that the third-largest cryptocurrency by market cap, XRP, is set to surpass the leading digital currency, Ethereum...

    Binance Announces Support for Spark Tokens Airdrop Planned By Flare for XRP Investors

    Binance, the arguably largest cryptocurrency exchange by trading volume, has announced the support for Spark tokens airdrop planned by Flare Network for the XRP...

    Ethereum 2.0 Now Ready To Go Live On 1st December with Over 700,000 ETH Deposits

    Over the past two days, there has been a remarkable increase in the commitment of the Ethereum community towards the launch of ETH 2.0...

    CipherTrace Is Determined To Unravel Monero (XMR) Transactions Obscurity

    CipherTrace, a blockchain analytics firm, is developing tools to track the transactions of the world’s largest privacy token, Monero (XMR). And in less than...

    More Articles Like This