Iota is getting closer to the implementation of the Coordicide project and thus the abolition of the central coordinator. IOTA 2.0 as a fully decentralized network could be ready to start as early as the beginning of 2021 according to the new information.
The Achilles’ heel of IOTA is, according to many investors and experts, the central authority of the coordinator, who ultimately decides on transactions, thus leaving room for doubt about the incorruptibility of the system. For years, the IOTA Foundation has been working under the project name “Coordicide” on the transition to a decentralized solution, as it has created confidence in Bitcoin and most Altcoins. Now IOTA is proud to announce in a blog post that Pollen has gone live with the first decentralized testnet within Coordicide. In another blog post IOTA explains that Pollen will be followed by a second decentralized testnet with Nectar in 2020 and then the first mainnet for IOTA 2.0 with Honey.
Background to Testnet Pollen at IOTA
IOTA has based its naming from the three phases to Coordicide on the natural production process of honey. First bees are attracted by pollen, meaning developers now have the chance to familiarize themselves with the decentralized IOTA. Nectar (nectar) is designed to reward developers and professionals when they find errors or difficulties in the test net. With Honey (Honey) comes the sweet end for everyone as IOTA 2.0. Dominik Schiener as a member of the board of directors of the IOTA Foundation has announced the target date of the first quarter of 2021 for Honey according to a media report.
Technologically speaking, pollen is a pretty big step. Pollen not only introduces decentralization into the test environment, but also sets the stage for DApps and Smart Contracts at IOTA and for “coloured” tokens. With the latter it should be easier to sort different network points in the Internet of Things (IoT), e.g. yellow tokens for buildings, green tokens for IoT terminals etc. IOTA counts 60,000 additions to the existing code and 25,000 deletions for pollen.
IOTA: course is picking up after good news on decentralisation
The crypto market appreciated the report on pollen at IOTA, and the crypto currency has increased in value by a good 5 percent since it was announced, thus bucking the trend on the market as a whole. In absolute terms, however, IOTA’s current prices of a good 0.22 US dollars have not yet made up for the losses that occurred in February and March as a result of the security debacle at the official Trinity Wallet and the resulting weeks of deactivating the coordinator in Mainnet.
IOTA has started another major project with Chrysalis, which will end in IOTA 1.5 and is a prerequisite for Coordicide. So currently they are working on two decisive construction sites and are making room for themselves by reporting success. This is because the crypto-scene also observes the disputes about the occupation and business practices of the IOTA Foundation, which are sharply criticised by disappointed early investors as well as by an anonymous person called “Hund“.
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