- An IOTA connoisseur explained that the long-awaited Rebased Protocol set the network on complete decentralization and at the same time significantly improves scalability.
- The upgrade is intended to provide an effective annual interest rate of 10-15% for IOTA inserts and provide 767,000 new IOTA per epoch for validators and delegators.
IOTA Rebased has recently started on the Testet, and you are currently working at the transition to the Mainnet. It is about the complete integration of stock exchanges and the provision of decentralized applications.
In the expectation of these updates, a renowned IOTA connoisseur named “Artbyteaddict” created a thread in which he explains why this upgrade is a game changer.
First hob „ArtByteAddict“ outthat the rebassed protocol would bring a complete decentralization, double smart contract performance and “enormous scalability” into the network. According to him, there would be an introduction of 150 validators to validate the decentralized status. In addition, Rebased would increase the network capacity to 50,000 TPS (transactions per second), accompanied by less than 500 millisecond finality by MysticTi.
In addition to the integration of smart contracts with MOVEVM and EVM, a burning mechanism with lower transaction fees is to be introduced.
Rebased and Iota-Staking
IOTA-Staking would also offer an annual percentage return (APY) of 10-15%. In addition, both validators and delegators would have the opportunity to get 767k new IOTA per epoch. The transaction fees would be burned to compensate for inflation and improve the value of the token.
On the question of why this upgrade is important, “Artbyteaddict” pointed out that Iota could be the first L1 with MoveVM and EVM support. As CNF, IOTA recently introduced the MOVE SMART contracts to unlock the programming in L1 and complement the EVM in L2.
The IOTA expert further explained why this upgrade is important and emphasized that the community voted for this initiative in December. In addition, the validators are currently selected in preparation for the start of the maize.
As CNF reported, these Validier Iota Validierers will bring validation to the company level. In addition, you would maintain the safety of the network and improve decentralization and reliability. In the middle of these developments, IOTA worked with Pyth Network to integrate real-time courses into the rebassed test network. According to the report, this would provide developers with secure, timely and precise market data for the development of effective DAPPS:
“Pyth Network Core is integrated into the new IOTA L1 Mainnet. Pyth’s price feeds are available on more than 100 blockchains and are used by 500 apps, so we are enthusiastic to secure this important infrastructure for our developer community. ”
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