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News from IOTA 2.0 – Cryptocurrencies

Who will release first: IOTA 2.0 or Ethereum (ETH) 2.0? Leave the bookmakers aside to talk about more things serious techniques.

The workers IOTA have been at work since last year for an IOTA 2.0 which will not be released this year despite great prospects for improvements for the network and for its users of course.

IOTA 2.0 under test

The IOTA Foundation announced the launch of the first version of testnet for its future decentralized network: this version called Pollen is now available to the public who can test its resilience and security.

IOTA 2.0 had been in development since last year; it should replace the current network during the first half of 2021: this new version will end the centralization ofIOTA, which had recently caused some complications.

Pollen includes the following features:

  • the Fast Probabilistic Consensus which is a new algorithm allowing the network to reach consensus without the centralized node;
  • decentralized applications free of charge or feeless DApp ;
  • asset transactions for sending tokens over the network.

IOTA 2.0 is built on a 3-layer architecture (application, communication and network) to facilitate the support of future functionalities such as tokenization or sharding.

iota 2 pollen, one of the updates of the IoT blockchain

It works in the hive!

The implementation ofIOTA 2.0 takes place in 3 phases: Pollen is the first.

The second phase will see the launch of the second major version, Nectar, during which other components will be added to the network which will integrate an incentive system: rewards will be distributed to operators and hackers who discover flaws in the protocol.

The last phase will be the official release and production start of ’IOTA 2.0, under the name of Honey.

Good to know: these names related to bees did not happen by chance. IOTA called on a multidisciplinary team with collective work considered a guarantee of success.

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IOTA will certainly not miss an opportunity to make the buzz by publishing the positive results of its testnets: enough to make the public wait a few more months! A 2.0 cryptosphere in 2021?

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