IOTA Rebased: March Start Will Likely Be Missed, Website for Foundation
There has been a lot of movement around IOTA and the IOTA Foundation in the past few weeks, and not just on the technological front. A plan called IOTA Rebased promises the continuous further development of IOTA, which in essence involves a transition from the existing architecture to a protocol with open participation and economic incentives. The current IOTA technology as we know it will supposedly be openly accessible in the form of an alpha test from next month, but a hard launch was actually already planned for March. It seems that the public participation of node operators is now realistically targeted for some time beyond March.
For IOTA’s public relations, the first step towards greater independence was taken in January. Previously, the English company IOTA legitimated the coin of the same name and controlled communication. Now a foundation to ensure the networking of the IOTA community has been registered, and a bilingual website for the foundation has been launched a few days ago.
New goals, old patterns: IOTA faces the future with known challenges
To get the IOTA community on board with IOTA Rebased, a timeline was published at the end of January, describing in detail when what is to happen. The timeline postulates the unraveling of the existing technological foundation as a continuous process through which as many interested developers as possible can contribute. However, with the initial project now extending beyond March, new friction points are likely to arise in the coming weeks.
Because although IOTA has already often presented bold visions, the implementation of such has not always gone smoothly. Beginning in 2015, IOTA rose to become a billion-dollar project in the interim but later struggled to capitalize on its own potential both technologically and economically. One known pain point here was criticism of communication leadership, which often appeared opaque and internal-focused.
Conclusion: Keep an eye on IOTA Rebased
IOTA’s short-term goals primarily seem to ensure a network launch that actually guarantees decentralized participation. Yet, those following the IOTA story over the years will recall that already during previous projects, milestones and timetables were not always adhered to. And now, with IOTA Rebased, March 2023 as a key date has probably become obsolete again. Therefore, the purpose and mode of operation of the IOTA Foundation should remain under observation in order to gauge how much the friendliness of cooperation with external partners has actually changed.
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