IOTA Foundation Unveils Latest Testnet Progress

IOTA Foundation Unveils Latest Testnet Progress

IOTA Foundation has informed the community about the latest research and development progress, Crypto News Flash website reported. 

The foundation indicated that Coordicide, GoShimmer and FPC are making great progress towards launching a first testnet.

Because of its focus on ‘zero value transactions’, IOTA will rename the Tangle’s objects from “transactions” to “messages”.

IOTA co-founder Serguei Popov highlighted the great effort exerted by developers to understand what is behind the product, adding: “What may seem trivial was indeed a challenging task.”

Popov expects “the bulk of traffic on the IOTA network would consist of ‘0 value transactions’.”

Renaming expected with new release

IOTA decided to rename the objects from “transactions” to “messages.” The renaming will be released with the new update within one month.

A yellow paper is currently being prepared for the Coordicide. Additionally, the community’s testing of a first GoShimmer prototype has been incredibly helpful. Thus, the v0.1.3 version was released, including several bug fixes, improved autopeering, dashboard, and enhanced reliability.

Moreover, the GoShimmer team has worked on version v0.2.0, which provides support for public key cryptography and binary hash functions based on elliptical curve.  

Testnet to include different tools

Charlie Varley, IOTA developer, earlier said the first Coordicide testnet will be launched within weeks. The testnet will include different tools so it can test the new functions without any risk.

In a Reddit post, Varley 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.

Chrysalis aims to provide an improved network in terms of transaction processing per second and speed of confirmation.

Moreover, Comnet, a new test network consisting of Hornet nodes only, has been launched by some members of the community. The transaction throughput per second reached 150, with a confirmation rate of 99 percent.

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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.