- The revised protocol from IOTA Rebased introduces an object-based ledger structure and the Move Virtual Machine, which improve programming, security and decentralization.
- The updated protocol will contain a staking-based delegated proof-of-stake system that rewarded validists and delegates with newly shaped IOTA tokens.
With the introduction of IOTA Rebased, a significant revision of the protocol that uses new blockchain technology for more flexibility, security and decentralization, is strongly revised. The IOTA Foundation was busy revising its ecosystem. With a coordination of the community in December 2024, in order to change the change, the project is currently preparing for the start of its maize.
IOTA plans for a new Mainnet
Das iota fox-update Deviates 2.0 plans from previous IOTA and instead relies on a further developed distributed ledger technology (DLT) platform. The linchpin of this change lies in the implementation of the Move Virtual Machine (Move VM) and the change from a UTXO-based LEDGER structure to an object-based structure. This design improvement promotes programming because developers are able to create complicated smart contracts and decentralized applications (DAPPS) in the network – CNF reported.
Move VM introduces significant important improvements, such as resource -oriented programming. Further improvements are the robust data absurdity that simplifies the complex resource management, and the static verification with which weaknesses can be recognized in the code before execution.
The Move VM also facilitates the formal verification that enables strict security checks in smart contract logic. The economic model of IOTA Rebased implemented a system that offers incentives for network security.
Validators and delegates are rewarded with stacking rewards in the form of newly shaped IOTA tokens, with around 767,000 new IOTAs being shaped per epoch. This will initially mean an annual growth of the token offer of 6 %, although inflation will decrease over time because the pre -amuses are determined.
For network transactions, a small fee is charged that is burned to create deflationary compensation for inflation. The gas fee for the first calculation unit is 1000 nanos, which corresponds to about 0.005 IOTAs per transaction. A storage deposit system is also introduced in which the users have to block tokens in order to cover the data storage in the Ledger and can be recovered if data is deleted.
Security, system growth and developer tools
The safety and decentralization of the network is guaranteed by a delegated proof-of-stake (DPOS) model. In order to become a validator, a minimum use of 2 million IOTAs is required, and the network will initially have a maximum of 150 validator places. However, validators can consult delegators in order to meet this requirement, which promotes wider participation in network security. The hardware requirements for the validation nodes will be 128 GB RAM, a 24-core CPU, 4 TB storage space and a 1 Gbit/S network interface.
As part of the preparations for the switch to the Mainnet, Iota has published a new series of software tools to facilitate the transition:
- A browser wallet extension for simple token management.
- A dashboard dapp with real-time network.
- Ledger-Hardware-Wallet-Integration.
- New software Development Kits (SDKS) that enable MoveVM-based development.
- A revised block explorer for improved transaction tracking.
- Command line interface (CLI) Tools and Move IDE plugins for developers.
The IOTA Foundation has also set up a public test network for IOTA Rebased. This enabled users and developers to test the functionality before publication in the Mainset.
