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- A crypto researcher disclosed that IOTA could launch its biggest upgrade (Rebased Protocol) in 2025.
- He also labeled IOTA as a “hidden gem” while pointing out the “race” to invest in non-ISO coins.
IOTA (IOTA) has been sluggish in the recent broad market bear run, declining by 10% in the last seven days and 4% in the last 24 hours. Meanwhile, crypto researcher SMQKE believes that the IOTA team has been quietly building with a focus on smart contracts, prototype launching, and testing critical advancements.
According to him, the team has been laying the foundation for its biggest upgrade in history in 2025. Fascinatingly, our review of an attached document discloses that the researcher was referring to the IOTA Rebased.
‼️MAJOR IOTA UPGRADE SET FOR 2025‼️During the bear market, IOTA has been quietly building, focusing on smart contracts, prototype launches, and testing critical advancements.🎯 While most overlooked it, this token has been laying the groundwork for significant growth.😶🌫️ The… https://t.co/WFE89AfHsz pic.twitter.com/mHIWJCkOsH — SMQKE (@SMQKEDQG) December 9, 2024
What is IOTA Rebased
The IOTA Rebased Protocol is a groundbreaking upgrade set to improve the scalability, programmability, and decentralization of the network. According to our earlier report, this protocol will be built on an existing architecture and introduce a new range of features to improve performance. Additionally, the protocol would integrate MoveVM, which the Mysten Labs originally developed for the Sui Network. Fascinatingly, this would unlock programmability at the Layer 1 level.
Analyzing a blog post by IOTA, we discovered that this implementation would also increase the transaction speed processing model to 50,000 Transactions Per Second while improving the finalization time to less than a second. According to the report, the smart contract team is working with the IOTA 2.0 core team to streamline the requirements and specifications to integrate the MoveEVM.
Their initial assessment concluded that, while technically feasible, implementing MoveVM into IOTA 2.0 would be a multi-year effort to deliver a safe and tested protocol to the mainnet. Moreover, this approach would require two consecutive breaking protocol changes: first for IOTA 2.0, and later for the L1 Move upgrade.
More About the Protocol
In 2025, the mainnet launch of the protocol will be done. However, the team discloses that four main conditions should be met before the transition.
- There should be at least a two-month testnet phase, which includes a comprehensive stress test.
- Readiness review of all validators on the testnet.
- Security audit during the testnet phase should be completed.
- Major exchanges should integrate the IOTA Rebased.
Meanwhile, as we earlier disclosed, the community has already approved the initiative through a governance vote, with 98% of the voters favoring the motion.
We are happy to announce that the recent governance proposal to upgrade IOTA to the Rebased protocol has received a large majority of positive votes. IOTA token holders have voted in favor of what we believe to be the most important upgrade in IOTA’s long history. Scroll to the end of this blog post for a full breakdown of the vote results.
In a separate post, SMQKE stated that IOTA is the most underrated ISO 20022 token. He believes this is probably due to the lack of right information. He also called investors out for “chasing” non-ISO coins while ignoring “hidden gems” like IOTA.
