Coordicide – The next step in IOTA’s Evolution

Since its inception blockchain has been discussed both in terms of the future possibilities, as well as the limiting factors that hold it back. High transaction fees, centralization, scalability limitations and power consumption are the main challenges that limit the technology from reaching its promised potential.

IOTA Foundation, a non-profit foundation focused on distributed ledger technology (DLT) and open-source ecosystem development, will change this in its most significant announcement to date…

IOTA’s unique network moves beyond traditional blockchains to become the world’s first network to become fully decentralized with zero fees and the ability to scale to thousands of transactions per second, thus eliminating all of the current issues with blockchain’s structure. And, fulfilling the promise of a distributed ledger technology that can be used in real-world applications for both enterprise and IoT.

Today IOTA announces it’s Coordicide solution for the removal of the Coordinator, a breakthrough step towards becoming the world’s first scalable and fully-decentralized distributed ledger technology. The planned protocol upgrade provides a new, decentralized mechanism for securing the IOTA network. With this upgrade IOTA will be the first DLT to solve three fundamental problems with blockchain technology: high fees, scaling and centralization.

Find the full version of the press release here: http://www.businesswire.com/news/home/20190528005495/en

For more information visit: https://coordicide.iota.org/

Coordicide – The next step in IOTA’s Evolution

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Kane Dane