IOTA to undergo major mainnet upgrade to Rebased protocol in May
The Iota will implement its greatest network upgrade to date on May 5, by transitioning its Mainnet to the new Iota Rebased protocol.
The upgrade introduces complete decentralization, stripe, the management of the intelligent layer of layer 1 via Movevm and scalability exceeding 50,000 transactions per second.
The Rebased protocol replaces the iota (IOTA) Previous architecture with a delegated model of proof of proof (DPOs), by launching with 50 validator locations without authorization and plans to increase to 150, according to a company note in the matter.
This marks the full passage of the network to a decentralized consensus and prepares it for more complex applications and a wider adoption.
In other words, Iota changes its system to make it faster, safer and entirely managed by the community. This upgrade also allows people to win awards and Create applications directly on iota without needing other tools.
The integration of the intelligent MOVEVM contract will allow developers to create decentralized applications directly on the base layer of Iota. Iota becomes the third network after Aptos et suis to offer Movevm to layer 1.. The reactive upgrade also the EVM Iota, which will work alongside Movevm.
Awards for stakers
For the first time in the history of Iota, the upgrade will allow implementation rewards for $ Iota holders, offering annual yields between 10% and 15%. A new burn mechanism and minimum adaptive transaction costs are also introduced.
The functionality of the IOTA service station will allow developers to subsidize transaction costs for end users, according to the company’s note.
The first Genesis validators of the network include a mixture of foundations, ecosystem players and purple suppliers such as Iota Foundation, Luganodes, Stakin and Nansen.
IOTA positions upgrade as a step towards cases of institutional and government use, including digital identity, supply chain infrastructure and chain finances. The upgrading of discounts follows the approval of community governance and a complete audit process.
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