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IOTA publishs extensive update on pollen, coloured coins and smart contracts

  • In the August update of the IOTA development teams it was announced that they have come much closer to the formal specification of IOTA 2.0.
  • The update mainly brings improvements for GoShimmer, Pollen, Networking and Mana

The focus of the latest update on the status of the IOTA development teams is on the consolidation of individual specifications. According to the report written by Serguei Popov, teams are already between the second and third steps of the four-step plan for merging.

Numerous optimizations of the pollen test network

The GoShimmer team has taken important steps in stabilizing the pollen test network. The synchronization was improved by comprehensive streamlining of various node processes. Consensus based processes, such as smart contracts, are further optimized.

To this end, the adjustment of the maximum message size and the maximum transaction inputs improved the validation of both. You can find more information about the technical details here.

An important innovation for end users is the release of the new GUI Pollen Wallets. This was developed in exchange with the community and should improve the usability of pollen

The changes in terms of networking are mainly focused on increasing the security and robustness of the tangle by buffering and parameter adjustment. The next step was the formalization and simulation of the changed processes.

After considering the relationship between user behavior and the economics of mana, it appears that there will be at least two colors of mana in the final implementation. It was also announced that this is the last update from the autopeering and mana development team, as sharding will have an extreme impact on economic planning.

The specification team works along a four-step plan.

  1. Consolidation of all files into an environment accessible to all developers.
  2. Standardization of file formats and creation of an overview of all functions of pseudo-algorithms, as well as indexing of all parameters.
  3. Check all files to detect errors and inconsistencies.
  4. Completion of the whole by detailed documentation, insertion of images, etc.

The team assumes that they will complete the third stage during the current research-summit.

IOTA named key innovator by the EU

Within the H2020 +CityxChange research programme, IOTA was voted as a key innovator and will receive 80 billion Euro until the end of 2023. The prize is proof that IOTA’s free communication via the tangle is seen as a promising solution for IoT implementations in the field of Smart cities.

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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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