IOTA releases Pollen, the first phase to the IOTA 2.0 decentralized network which is expected to arrive in the first half of 2021, so let’s find out more in the IOTA news crypto.
IOTA continues its path to the so-called Coordicide which is the removal of the Coordinator, a node run by the IOTA Foundation for the network protection and transaction confirmation. The end goal here is to make the network even more decentralized. In order to solve the biggest issues with scalability and decentralization as the Foundation announced, they are now launching the first testnet of the decentralized network as IOTA releases Pollen.
Pollen’s goal is to help the community and developers to “test and validate the concepts of IOTA 2.0 which will serve as IOTA’s coordinator-free network” as the press release said. People can test it and work on the components individually such as rate-limited, MANA, and Fast Probabilistic Consensus:
“IOTA has spent the last year researching a solution that will ultimately replace its current network in the first half of 2021.”
Whether the Coordinator will be terminated in the first months of 2021, is hard to say, as Dan Simerman the Head of Financial relations of the IOTA Foundation explained that IOTA is now ahead of schedule so it is very possible that it could happen sooner, but IOTA likes to be safe before starting something. The IOTA 2.0 components should be rolled out in three phases:
- Pollen which introduces updates and architecture for the upcoming features
- Nectar which will serve for the remaining components to be released into the incentivized test network since IOTA will work on finalizing the node software until ready to be released and
- Honey, the fully decentralized version of IOTA on the mainnet.
Pollen has a whole new architecture made up of three layers, communication, application, and network. These will support eh features that will be rolled out in the upcoming releases. The features include the fast probabilistic consensus tokenization value transaction which will help developers and node operators to send the test network tokens as well as to build blocks for the feeless dapps.
The community started the protocol upgrades that will result in IOTA 2.0 with the latest Hornet release, the latest version of the node software. Hornet brought the first Coordicide components to the main network. Before 2.0 though, the new node software leads to IOTA 1.5 or Chrysalis which is a set of protocol improvements that will speed up the network performance and usability.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]