IOTA Takes a Step Closer to Decentralization With 2.0 DevNet

The IoT-focused network is gradually looking to remove its central Coordinator role.

AccessTimeIconJun 3, 2021 at 1:25 p.m. UTC
Updated Aug 21, 2021 at 7:30 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Internet of things (IoT)-focused network IOTA took a step closer to being decentralized with the launch of the IOTA 2.0 DevNet without a governing “Coordinator,” a kind of backstop in the existing system needed to prevent concerted malicious attacks

The system, announced in a blog post on Wednesday, will test the network’s Tangle protocol, which uses a "directed acyclic graph" or DAG, rather than mining blocks like other chains.

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0
  • The gradual replacement of the Coordinator with a decentralized system of reputation and incentives is a process the IOTA Foundation says it is discovering as it goes along.

    “Leading up to the current release, a number of challenges were solved to allow for the removal of the Coordinator. The new solution is modular, meaning that each protocol component can be independently replaced should new research reveal further optimizations.”

    The IOTA Foundation says its tech is used in the enterprise space, across sectors such as automotive and mobility, eHealth, digital identity, smart energy, and supply chain and global trade.

    In the past, IOTA has come in for criticism for apparent flaws in the Tangle protocol.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



    Read more about