IOTA protocol is evolving towards a digital infrastructure

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  • Coordicide to play a significant role in IOTA protocol development 
  • Exchanges can now integrate the distributed ledger into their system.

In a recent Ask Me Anything (AMA) organized by the founders of IOTA, Dominik Schiener and David Sonstebo, shared some valuable information on the IOTA protocol’s growth and what this means for the crypto community.

It was revealed that the Coordicide would be playing an essential role in the development of the IOTA protocol. Coordicide is a scalable ledger, primarily that of IOTA mainnet, and it would be launched in 2021.

Schiener made it known that there would be many components of Coordicide in the IOTA mainnet. And that Chrysalis would be devised from the Coordicide scalable ledger.

The testnet would become available in the first quarter of 2021, and it would be followed almost immediately by parallel testing and the testing of major components that will make the Coordicide function correctly.

Schiener revealed that this would be following the main aim of building a protocol that would be the first of a distributed ledger that will require no permission and no fees and would also be production-ready for users.

IOTA protocol to evolve towards the digital infrastructure layer.

During the AMA, the founders also revealed that by working on the Chrysalis project and removing some of the previous challenges attached to the IOTA protocol, exchanges could efficiently work on integrating IOTA into their systems.

Exchanges had previously highlighted the challenge of UTXOs as to why they have mostly not integrated the IOTA protocol into their system. But with the assurance that this challenge has been fixed, one can expect crypto exchanges integrating this distributed ledger into their system.

The founders have also projected that other challenges facing the protocol like sharding would be resolved by 2022 or 2023 when, most likely, different projects would have been building on the IOTA protocol.

Kamsi King

Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

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