IOTA Inching Closer to Coordicide, Launches the DevNet and a New Digital Assets Framework

by
Altcoins
IOTA Inching Closer to Coordicide, Launches the DevNet and a New Digital Assets Framework

In what has been described as “experiencing the future today,” IOTA has launched the IOTA 2.0 DevNet and a new Digital Assets Framework to begin experimenting with the community.

IOTA 2.0 DevNet

As per an update on June 2, IOTA is moving closer to a fully decentralized network without a super-node called the Coordinator.

Following the release of the DevNet, IOTA is now inviting individuals and companies to join and test this network. IOTA describes the final, Coordinator-free network as highly scalable, feeless, without miners, energy-efficient, and public.

According to the network creators, the DevNet marks the beginning of a new age where individuals and companies can begin building dApps and creating differentiated business models before Coordicide.

Testing and Refinement ahead of Coordicide

From the DevNet, users can build and transact on, enjoying what would be the final, defining features of IOTA on the “Honey” stage once IOTA 2 is activated and Coordicide implemented.

The DevNet is the evolution of the Internet-of-Things focused network in their path to becoming a global standard.

Users would test IOTA’s low-energy Sybil protection system using Mana—useful in consensus and forming a reputation system for nodes.

They can also experience how the IOTA Autopeering system is effective in the security of network connections.

At the same time, users can examine the anchoring of IOTA smart contract chains and the efficiency of algorithms behind the network’s parallel reality ledger state.

This launch aims to help IOTA developers experiment, collect, and optimize the entire IOTA 2.0 solution.

From the data collected, developers would be better positioned to determine how parameters should be defined and even identify and remove all potential performance bottlenecks.

IOTA Developers are Building on Chrysalis Upgrade

It also comes a few weeks after the upgrade of Chrysalis in April 2021.

During the upgrade, IOTA launched a new set of libraries and wallets, paving the way for IOTA 2 to be fully production-ready.

As BTCManager reported, the IOTA Foundation is building and striking partnerships. In late April 2021, it announced a deal with Crypto Finance AG.

Dalmas Ngetich

Dalmas is a very active blockchain and cryptocurrency content creator and highly regarded Technical Analyst. He is a Mechanical Engineer by profession and an activeTrader, whose first encounter with Bitcoin was in 2015—and by accident. Ever since, it has been an exciting journey where life-long friendships have been forged, and careers made and strengthened.