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Tuesday, August 25, 2020

Update on IOTA

Had taken a closer look at the IOTA system, primarily because it operated as a mining-less blockchain capability.  And had potential for smart contract style operation.  See it characterized as a ' fast probabilistic consensus mechanism'. Here now an update:

IOTA Foundation Enters Base Layer Race With ‘2.0’ Testnet

IOTA is addressing the technical feature that nuked the blockchain-like network for nearly two weeks earlier this year.

The IOTA Foundation announced Wednesday it is doing away with the “coordinator” that previously validated the blockchain’s transactions.
The new “coordinator-less” network, billed as IOTA 2.0, is meant to rival other smart-contract platforms such as Ethereum, EOS, Tron and Cardano.
IOTA’s MIOTA token currently ranks as the 24th largest cryptocurrency by market cap, according to CoinGecko data, besting zcash (ZEC), cosmos (ATOM) and basic attention token (BAT), among others.
IOTA’s new “Pollen” testnet will serve as a research testbed for a new “fast probabilistic consensus” mechanism.
The IOTA Foundation claims the new network will support decentralized applications (dapps) and smart contracts that can transact without incurring fees.  .... "

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