IOTA progress report September: focus on detail work

The IOTA Foundation has submitted its monthly progress report. It is seen to be on the right track with important projects such as Mobile Wallet, IOTA Identity and Smart Contracts.

At IOTA, the monthly progress report also always offers investors the opportunity to find out about further developments. For September, the IOTA Foundation draws a satisfactory conclusion in its report. Reference is made once again to the successful support of Ledger Nano hardware wallets for IOTA in August and to the fact that a good 67 percent of all IOTAs have now been migrated to IOTA 1.5, which has been valid since April.

In terms of IOTA 2.0 aka Coordicide, on the other hand, the foundation is keeping a rather low profile. Updates in DevNet 2.0 therefore do not yet refer to the new consensus mechanism to be developed in a decentralized IOTA of the future. In fact, IOTA predictably has a lot of work ahead of it here, and experts now expect a Tanglenet without a central coordinator in 2023 at the earliest.

IOTA 1.5: Smart Contracts, Digital Identity and Mobile Wallets

Because of the setbacks with IOTA 2.0, the foundation has decided to want to implement important features such as IOTA identity and smart contracts already in the central Tanglenet 1.5 aka Chrysalis. It is now reported here that IOTA Identity is nearing version 1.0. One hired two new developers in the team of IOTA Identity and made this complete. IOTA Identity is intended to cover the field of digital identities, from applications for vaccination passports to banking transactions.

Another topic linked with great expectations at IOTA is smart contracts. Here, IOTA wants to rely on its own protocol ISCP as well as integrate the proven Ethereum Virtual Machine (EVM). A public testnet for IOTA Smart Contracts is approaching, it is now said. However, skeptics object here that smart contracts, for example in the DeFi division, are unlikely to be attractive in the centralized IOTA 1.5.

Still important under practical aspects with IOTA: The official wallet Firefly is still only available in desktop versions. The development of IOTA Firefly versions for smartphones and tablets is progressing, the foundation reports. In the Android version, they are on the home stretch for the Firefly Wallet as an app, but for the iOS version for Apple devices, a few more weeks of research should be planned first.

Conclusion: IOTA Foundation is optimistic as usual

There is productive activity in the engine room of the official IOTA developers – at least according to the descriptions in the September progress report. However, since the IOTA Foundation has now dispensed with concrete data in its roadmap, it is difficult to estimate when concrete progress will also reach the end users in the mainnet and could have an impact on the price curve of IOTA.

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