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IOTA Takes a Step Closer to Decentralization With 2.0 DevNet
The IoT-focused network is gradually looking to remove its central Coordinator role.
Internet of things (IoT)-focused network IOTA took a step closer to being decentralized with the launch of the IOTA 2.0 DevNet without a governing “Coordinator,” a kind of backstop in the existing system needed to prevent concerted malicious attacks.
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The system, announced in a blog post on Wednesday, will test the network’s Tangle protocol, which uses a "directed acyclic graph" or DAG, rather than mining blocks like other chains.
The gradual replacement of the Coordinator with a decentralized system of reputation and incentives is a process the IOTA Foundation says it is discovering as it goes along.
“Leading up to the current release, a number of challenges were solved to allow for the removal of the Coordinator. The new solution is modular, meaning that each protocol component can be independently replaced should new research reveal further optimizations.”
Read more: IOTA Being Shut Off Is the Latest Chapter in an Absurdist History
The IOTA Foundation says its tech is used in the enterprise space, across sectors such as automotive and mobility, eHealth, digital identity, smart energy, and supply chain and global trade.
In the past, IOTA has come in for criticism for apparent flaws in the Tangle protocol.
Ian Allison
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
