- Shimmer and IOTA 2.0 projects are the group’s most important tasks in the first half of 2023.
- As the IOTA 2.0 launches in 2023, the platform will process transactions within seconds without delay.
The IOTA team has been providing updates about the IOTA 2.0 blockchain that has been in the works for some time, but the latest information about the projects hints at the possibility of its launch in 2023. IOTA enthusiasts have taken to Twitter to discuss the IOTA 2.0 and the Shimmer projects. The developers’ team is reportedly working on the projects, ensuring that Shimmer becomes an efficient decentralized financial ecosystem that can compete with other scalable blockchain platforms like Fantom.
Also, the team is “focused on IOTA 2.0, finalizing the GoShimmer Testnet and working on the ‘relaunch of IOTA’, which includes the IOTA 2.0 architecture clearly laid out and explained, significantly improved tokenomics of IOTA and clear messaging narratives around what IOTA is all about.”
IOTA 2.0 Set to Go Live in 2023
Basically, the Shimmer and IOTA 2.0 projects are the group’s most important tasks in the first half of 2023. Providing the details of the IOTA 2.0 development network scheduled to go live before mid-2023, the smart contract mentioned its new message structure and consensus mechanics. The IOTA ecosystem is positioned to offer more benefits and different kool kits. Another feature of the ecosystem is that it is decentralized, secured, and permissionless.
Based on a leaderless consensus protocol, IOTA 2.0 is the most decentralized distributed ledger protocol able to handle more than just payments
As the IOTA 2.0 launches in 2023, the platform will process transactions within seconds without delay. There will be no need for centralized entity confirmations, no matter the number of network participants. The feeless transactions benefit IOTA 2.0 will provide upon its launch in 2023 is another benefit to look out for. The platform will ensure that the transfer of data and value between humans and machines will be secured. Also, it will lead to the creation of new business models based on micro-payments.
The team around co-founder Dominik Schiener announced IOTA 2.0 in 2018, marking the beginning of a decentralized ecosystem. This also means the deactivation of the coordination, which is on the brink of realization with the possible launch of IOTA 2.0 in 2023.
The IOTA Project
In an earlier report, IOTA team member Jonas Theis referred to the under-the-works blockchain as a “living beast.” He mentioned a few changes that will improve decentralization on the upgraded platform. They are tokenomics, consensus, and congestion control.
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In other news, the IOTA Foundation recently partnered with Dell Technologies on sustainable energy. The joint ventures are working together to bring sustainable energy uses to future digital cities.