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IOTA 2.0: Coordicide testnet coming soon, more status updates

  • IOTA developer Charlie Varley describes in a new update that the first Coordicide testnet is only a few weeks away from launch.
  • IOTA has also achieved great progress in the development of Chrysalis and Bee.

Due to the ongoing crisis, new creative ideas are being implemented to improve and facilitate people’s lives. A few days ago, a smart packing station was presented at the IOTA VR Meetup, which is intended to promote local trade. But also innovative taxi services that could be used within a smart city were presented. The development of IOTA continues to progress, Trinity Chief Developer Charlie Varley has shared a comprehensive update with the community.

Coordicide testnet to be released in ‘a few weeks

Varley informed the IOTA community in a Reddit post about the current progress of various projects. Varley emphasized that the features currently being developed by IOTA, such as Chrysalis, Coordicide and Bee, are very complex and require the full attention of the developer community. Chrysalis is making good progress, providing a much improved network with a much higher number of transactions per second, faster confirmation times and reusable addresses.

Furthermore, a new test network called Comnet has been launched by some community members, which so far consists of Hornet nodes only. A transaction throughput of 150 transactions per second with a 99% confirmation rate was achieved. Varley says that the first lab tests are promising and that the test network is running completely without the chrysalis optimizations so far.

Coordicide represents IOTA’s solution for full decentralization. Varley also calls Coordicide IOTA 2.0, which is currently being implemented and tested in GoShimmer. Varley describes that a GoShimmer test network will soon show the complete capabilities of the different components:

A GoShimmer testnet will demonstrate how Coordicide and its various components (including consensus, Mana etc.) work and provide an environment for developers to learn about the new possibilities Coordicide will enable (think coloured coins, dApps etc.).

The release of the first Coordicide testnet with value transactions is expected in a few weeks. The testnet will include a number of different developer tools to be able to test all new functions without risk. The Hornet development team is working closely with GoShimmer, as both use the common library Hive.go.

Varley sees great potential in the development of a decentralized identity (DID), as this project could be used in a thousand different use cases. Within the recently founded Tangle EE Workgroup, the Unified Identity Protocol is being developed, which will initially be implemented in TypeScript and later ported to Rust.

When using the DID, personal data, such as a copy of the birth certificate or vaccination card, is not uploaded to a centralized server. The sensitive data is stored at the location where the owner of the data wants it, mobile phone, other digital devices or an RFID chip. Banks are able to retrieve all the data needed to open a bank account or check creditworthiness within seconds.

Whether a solution provided by IOTA will actually be used in business and industry remains to be seen. Follow us on Facebook and Twitter and don’t miss any hot news anymore! Do you like our price indices?

About Author

Collin Brown

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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