IOTA Prepares for Full Decentralization With Coordicide; Sets Milestones at Pollen, Nectar, and Honey

The IOTA Foundation has announced a new naming convention to define its upcoming 2.0 upgrade as the platform transitions to a fully decentralized ecosystem. According to a medium post by the foundation on June 29, milestones under the shift to ‘Coordicide' will be named after the honey creation process; Pollen, Nectar, and Honey. Notably, IOTA will have permanently removed its coordinator node upon launching the Coordicide mainnet as anticipated later in the year.

Before this development, IOTA had rolled out its 1.5 upgrades dubbed ‘Chrysalis' to set the stage for decentralization infrastructure. Under this milestone, the foundation integrated Hornet upgrade, whose value proposition is a 20x blockchain throughput and 650 transactions per second (tps). Following a successful roll-out, IOTA is now moving forward with the 2.0 upgrade and has chosen a simple naming convention to make it easier for the community to keep up.

IOTA Progess
Source: IOTA

IOTA's Coordicide Upgrade

With decentralization being fundamental in crypto ecosystems, projects like IOTA who are competing in the booming market are inevitably playing to the stakeholders' tone. The platform's initial prototype, a decentralized testnet was named ‘Alphabet.' Apart from that, the team has come up with several techs whose focus is to remove the coordinator; these have since been categorized as ‘Goshimmer.'

Consequently, IOTA is now looking forward to the Coordicide mainnet release as the final milestone to achieving full decentralization. The foundation, therefore, noted that the very first milestone to this goal would be under the Pollen stage. In this phase, the focus will be on Coordicide's whitepapers with the community and other contributors expected to expand the knowledge base as well as carry out simulated vector attacks on the first official IOTA 2.0 testnet. The blog reads,

“During this active research phase, much of the Coordicide specifications will be fully finalized, giving us the final blueprint of IOTA 2.0.”

After Pollen, the project will move to roll out the Nectar phase. Just like the name suggests, this milestone will incentivize network operators to find bugs and attack vectors before the mainnet release. Going by IOTA's speculations, this phase should be in action within the next half of 2020,

“Expected in the second half of 2020, Nectar will be a full implementation of our Coordicide modules on an incentivized testnet.”

Finally, the Honey phase will see IOTA's first fully decentralized version debut within the blockchain and crypto space. The blog goes on to note that the network will have undergone thorough testing before the final IOTA 2.0 candidate is released,

“Honey will include all of the modules according to the full and final specification of Coordicide.”

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Edwin Munyui
Edwin Munyui
Edwin is a FinTech enthusiast with a particular interest in blockchain technology and cryptocurrencies. He has worked as an author in the blockchain space since 2017 and enjoys creating content that both crypto veterans and newbies can understand. His simple writing style and financial market knowledge have made him a reputable fundamental and technical analyst with the ability to handle any topic around blockchain and crypto over the years.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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