IOTA: Coordicide Version 1 Will be Able to Handle 1,000 TPS

IOTA: Coordicide Version 1 Can Handle 1,000 TPS

In a recent meeting, Darcy Camargo, who is a member of IOTA Foundation‘s research team, talked about transition from Coordinator to Coordicide, Crypto News Flash website reported.

Camargo clarified that there are essentially three reasons for removing the Coordinator: responsibility, scalability and centralization.

He added that the current situation is that the foundation is responsible for users’ tokens. This responsibility should be transferred to the IOTA token holder. It seems that the removal aims to eliminate the project’s current centralization. However, the elimination of the Coordinator would contribute to the improvement of scalability.

The transition includes several phases and is not just the removal of the Coordinator. Instead, removing the Coordinator is just the “tip of the iceberg”, Camargo said.

“Coordicide is about building the IOTA network the way it was meant to be. Making it fast, secure, scalable and decentralized.”

1,000 TPS

As for Coordicide’s scalability, Camargo said it can process an unlimited number of users and transactions, which means that the protocol meets the requirements. However, he indicated that the network cannot be disregarded, as it must fulfill the existing and potential needs.

Camargo also said this demand is about 1,000 transactions per second (TPS) for version 1:

“We don’t have official numbers of course, that’s a discussion we have, we have an objective. But in general, when we talk what we want to achieve, we say well, we want the first version of the Coordicide network to be able to achieve at least 1.000 transactions per second.”

“And this happens because we have a demand for 1.000 transactions per second. As I was told many times, we have company that are ready to use network,” he added.

Further enhancements will be made in future versions, including sharding mechanisms (slicing, atlas), which are currently under review.

The IOTA team is working on this, so Camargo has not given further details in this regard.

Charlie Varley, IOTA developer, earlier shared his view with the community, indicating that IOTA has made considerable progress in the development of both Chrysalis and Bee. He added that such features are complex and need more attention from the community.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.