With a clear focus on digital autonomy, the distributed ledger technology IOTA has officially launched the IOTA 2.0 protocol update. This new protocol, which has been in the making after an extensive period of research and prototyping, is set to revolutionize the way we perceive and interact with blockchain networks.
Unveiling the IOTA 2.0 Protocol
As per the information provided by IOTA in their series of blog posts, the IOTA 2.0 protocol update is designed to be a consensus and settlement layer capable of securing and tokenizing assets. It aims to facilitate easy transfers and create new digital ecosystems for Web3, enterprises, and governments.
Recently, IOTA revealed the three cornerstones of IOTA 2.0, which are laid out in the Ledger, Networking, and Consensus papers. These foundational elements are expected to bring about a significant transformation in the blockchain world.
The Launch of Shimmer EVM Public Smart Contract Chain
Just last week, IOTA announced the launch of the Shimmer EVM Public Smart Contract Chain. This launch, along with the upcoming release of the IOTA 2.0 protocol update, signals a turning point for the blockchain.
Upcoming IOTA Stardust Upgrade
On October 4, 2023, the IOTA network is set to undergo an upgrade to the Stardust protocol. This upgrade will result in the forking of the IOTA network, leading to the creation of two separate networks from the existing Chrysalis IOTA network: the IOTA Stardust and the IOTA Stardust Classic.
The IOTA Stardust network will have a total supply of 4,600,000,000 IOTA and a circulating supply of 2,785,272,581. Over a period of four years, tokens will be unlocked through a temporary token release at a rate of approximately 12% per year.
The IOTA Stardust Classic, on the other hand, will be an upgraded version of the current Chrysalis protocol, featuring a total supply of 2,779,530,283 IOTA under the old denomination. Going forward, the IOTA Foundation plans to support only the IOTA Stardust network, maintaining the IOTA Stardust Classic network for just four weeks after its inception.
For those interested in tracking these exciting developments in the IOTA network, the cryptoview.io application provides real-time updates and insightful data analytics.
Explore cryptoview.ioAs we move forward in the digital era, the IOTA 2.0 protocol update and the upcoming Stardust upgrade represent significant steps towards achieving digital autonomy for all.
