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IOTA Update: New testnet for Coordicide version IOTA 2.0 DevNet



IOTA is now starting the IOTA 2.0 DevNet. The aim of this version is the complete decentralization of the network, as well as fee-free transactions.


The IOTA 2.0 DevNet is the next step in IOTA's way to become a global standard. This step builds on the successful Chrysalis update from April 2021. In a blog post we read:


“Today we are launching the IOTA 2.0 DevNet, the first fully decentralized IOTA network without the need for a coordinator, together with our new Digital Assets Framework. We invite everyone (and every machine) to join this network, learn and experience the future of IOTA today. Check out the stylish new website, Tangle Explorer, and developer documentation. "


IOTA 2.0 DevNet: playground for developers

With the IOTA 2.0 DevNet, the community and the IOTA partners can now test a variety of new tools and start various experiments.


"Today is the first day our ecosystem can begin developing dApps and new business models before the inevitable future of IOTA 2.0 kicks off on our mainnet (known as" Coordicide ")."


The IOTA 2.0 DevNet introduces a wide range of new features and functionalities, including:


Permission-free and decentralized coordination with FPC

Fast finality with mana-based approval weight

Low energy sybil protection system with mana

Fair access, managed by the novel and driverless IOTA Congestion Control Algorithm

Efficient algorithms with a parallel reality ledger state

Secure autopeering system that guarantees secure network connections

Our new digital assets framework for creating tokenized assets and NFTs

Anchoring IOTA Smart Contract Chains

The future of IOTA

In order to make IOTA's research even more efficient, IOTA is now cooperating with Fetch.ai, a Cambridge-based artificial intelligence (AI) laboratory that uses autonomous economic actors to process various information about AI-based applications for intelligent and innovative data solutions .


IOTA and Fetch.ai are working together on AEAs. AEAs are autonomous economic entities, i.e. a set of rules that can act without constant intervention by their owner. The aim of an AEA is to generate economic value for its owner or initiator. The AEAs should soon become part of Tangle. In one article it says:


“One of the myriad possible environments could be a traditional financial market where the owner instructs his AEA to act on his behalf, such as trading commodities based on a certain price threshold. Put simply: sell high and buy low. Further applications are trade data, mobility, eco or supply chain solutions. "


In order to make this vision a reality, AEAs from the Fetch.ai ecosystem cooperate with IOTA Streams instances. In this way, the data can be automatically shared and called up in Tangle - in this way the components act safely and in real time.

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