After the staking for Assembly (ASMB) and Shimmer (SMR), IOTA boss Dominik Schiener now promises mainnets for the two projects in 2022. The decentralization planned by Coordicide, however, will have to wait.
The mood among IOTA investors is subdued: since the beginning of the year, the price curve of IOTA shows about 30 percent loss and the altcoin has slipped out of the list of the 50 most capitalized cryptocurrencies. In the process, staking with IOTA, specifically for Shimmer (SMR) and Assembly (ASMB), had been expected to provide upside. On Monday, the staking period was officially ended and now IOTA boss Dominik Schiener comes forward to lighten the mood. Via Twitter, Schiener namely promises that mainnets for Shimmer and Assembly will go live this year. This would allow free trading for SMR and ASMB, and the staking could pay off.
In a blog post, the IOTA Foundation explains in parallel what should now happen in the ecosystem in the medium term. Shimmer is apparently a priority here, as this network is to serve as a kind of public testnet for planned IOTA features such as smart contracts. There is also a reminder of the referendum on the “unclaimed tokens” in IOTA, which has still not been fixed in terms of time, and which could result in a war chest dominated by the community for the support of promising projects. It is also becoming clear that commercial applications should find a place in the future under Assembly, where high scalability is sought through a multi-chain concept.
Decentralized IOTA 2.0 aka Coordicide in the distant future?
What leaves IOTA connoisseurs wondering, however, when proclaiming the plans for 2022 is: over the last few years, a decentralized IOTA 2.0 under the name Coordicide was undisputedly the main goal. With the upgrade Chrysalis aka IOTA 1.5 in April 2021, it seemed that half of the way to Coordicide was already done. Most recently, developer Hans Moog raised hopes for a speedy implementation of decentralization in IOTA with the announcement “breakthrough achieved.”
But now Schiener’s water status reports don’t mention Coordicide at all. Instead, the accompanying blog post states that Coordicide aka IOTA 2.0 is being worked on separately from Assembly and Shimmer for the time being. Parts of IOTA 2.0 could be tested at Shimmer in the future – but an import into the mainnet is not in sight for the time being and is vaguely supposed to happen at some point. This also means that neither Shimmer nor Assembly will meet the decentralization criterion at launch.
Conclusion: IOTA boss Schiener comes under criticism – also because of course changes.
Schiener, as head of the IOTA Foundation, is currently experiencing harsh criticism, and not only on Twitter. The tenor is: Instead of fulfilling old and important promises such as Coordicide, new projects are always being pushed. But the financial loss of value of IOTA is not stopped by the constant course changes and the side projects Assembly and Shimmer even threaten to dilute the financial significance of the original IOTA token. Schiener, however, is in a position through the bylaws of the IOTA Foundation that grants him all the power, making personnel changes or the installation of an experienced CEO at IOTA unlikely.
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