IOTA Upgrades Impressively to Reach for a scalable DLT

As announced by IOTA in one of its blog posts on 28^th May, the team of IOTA is now much more confident to eliminate the centralized coordinator – an act which they have been referring to as “Coordicide”. This will be marked as a big step towards realizing the vision of IOTA to become the first scalable and decentralized DLT.

The value of IOTA’s MIOTA token following this announcement,
increased by nearly 20% from $0.42 USD to a local high of $0.55 USD. As previously
reported by IIB, “The removal of IOTA’s centralized coordinator is a huge step forward
in IOTA’s development, as it will enable clients to build a scalable payments
network for the internet of things [IoT].” What has been most exciting about
IOTA is that it provides the users with no transaction fees because of its low
difficulty Proof-of-Work (PoW) consensus mechanism and after the coordinator will
be officially removed, IOTA will become a truly scalable DLT.

Although
before all of this happens, the Coordicide process will be going through a
series of steps and the community of IOTA will be updated along the entire
journey. As stated in IOTA’s blog post, “We look
forward to providing updates about the progress of our simulations,
prototyping, and incoming testnets. In the meantime, please feel free to submit
feedback through the website, or join us on Discord for a chat!”
The Investors of IOTA can think of seeing a big increase in interest
surrounding IOTA. Once the masses realize the fact that DAG-based distributed
ledger technology of IOTA offers zero-fee transactions the profit for the
investors will be huge. A completely decentralized and scalable DLT with zero
fee transactions will surely to spike the interest of the masses.

If
we talk about Nano [NANO], once people realized its DAG-based DLT technology
offered free and near instant transactions, the price of the crypto asset exploded.
Nano went from $2 USD all the way up to $34 USD in a short span of just a
month. Now, there is surely something for the people to get excited about, as
IOTA will be going beyond the scope of payments. IOTA has been built for
machine-to-machine transactions for the internet of things [IoT], which Nano
does not provide.

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