For starters, IOTA, a major Blockchain project, designed for the Internet of Things, has entered its latest network updates to IOTA 2.0. All this, with the intention of becoming a fully decentralized network by 2021.
The latest updates on the IOTA 2.0 network
According to a blog post from June 30. Mainly, users can now download the new version, Pollen, on IOTA’s first fully decentralized test network.
This release is the first phase in the roadmap in the transition to IOTA 2.0. Certainly, in the road map, the IOTA Foundation presented three phases, to reach the so-called Coordicide, an event that will foresee the permanent elimination of the IOTA coordinator.
Undoubtedly, the coordinator represents an application executed by the IOTA Foundation. And so, digitally confirm valid transactions.
Pollen marks the beginning
By launching Pollen, the project marks its first achievement prior to Coordicide. Meanwhile, Dominik Schiener, co-founder of the IOTA Foundation, highlighted that: “The launch aims to end in a network without coordinators and ready for production“
Furthermore, Schiener emphasized:
“Pollen marks the beginning of the world’s first truly decentralized and free Ledger. Which has been IOTA’s promise since its first day. ”
New details on IOTA 2.0 milestones
The IOTA Foundation is exerting its efforts to achieve significant updates to the protocol. Consequently, IOTA 2.0 will have many differences with the previous versions, and naming the new elements is one of the most important.
A recent post focused on explaining the three important phases of IOTA 2.0. These phases represent important milestones on the road to testnet versions and, finally, Coordicide. The most outstanding thing is that the three landmarks are called Pollen, Nectar and Honey.
Once again, the names of the Apoidea superfamily were chosen. Therefore, the previously started metamorphosis was continued.
Importantly, IOTA believes that changing the terminology at the core components makes it easier for the community to understand ongoing progress within the network.
Going into details, we have 3 name changes
As such, Pollen is configured to serve as a research base to validate Coordicide concepts and simulate certain attack vectors. According to the foundation, the Pollen phase is expected to finalize Coordicide’s specifications, providing the final blueprint for IOTA 2.0.
This testnet will serve as the basis for the foundation, the community and all the researchers who want to use it to test different things.
Likewise, Nectar is the second milestone that the cryptocurrency will launch in H2 200. So, this second phase is expected to provide a complete implementation of the Coordicide modules, in an incentive test network.
Likewise, the Nectar stage aims to test the network for errors or problems before finally launching the main network. Expected to launch early in the fourth quarter of 2020, the phase will allow network participants to earn rewards for finding bugs.
While Honey, the candidate for the final version, will incorporate the necessary Coordicide modules, which represent the first version of IOTA 2.0. Schiener says the foundation expects the network to enter the Honey phase in the first quarter of 2021.
Finally, the IOTA team points out that this analogy, with the world of hymenoptera, symbolizes the hard work of the people involved in the project, which is as complex as a neural network.
The analogy was chosen due to IOTA’s network structure, with all its small actors contributing to the project.