IOTA Coordicide Testnet Makes Great Progress: Update

The IOTA Coordicide testnet makes great progress along with GoShimmer and FPC before the launch according to an IOTA foundation research update as we are reading further in the Iota news today.

Due to the focus on 0 value transactions, all of the objects in the Tangle will be renamed to ‘’ messages.’’ In the latest research, the IOTA foundation informed me about the biggest progress yesterday. The monthly updates became a tradition for the foundation to inform the users in the community about the research progress and the development progresses as well. In the latest announcement, the IOTA co-founder Serguei Popov explained that there was a meeting recently for naming some of the IOTA coordicide components.

According to the IOTA news today, Popov reflected on the rebranding strategy that the foundation had in mind which was announced two weeks ago. The IOTA foundation believes that the ‘’ majority of traffic on the IOTA network will consist of 0 value transactions’’ so from here, it was decided to rename the objects to messages rather than transactions. After the next update in a month, the renaming will be published officially.

Speaking of Coordicide, a yellow paper is being drafted and the community’s testing of the first prototype of GoShimmer was helpful which led to v0.1.3 being released. This release included a few bug fixes and improved dashboard and autopeering. The team of GoShimmer was working on version v0.2.0 which includes support for the elliptical curve-based public-key cryptography. Popov believes that the first implementation is going well and the first testnet will be launched in a few weeks. Great progress was made in the design since another layer-based approach was implemented. The first layer comprises the messages and information about the node identity. The second layer is the interpretation layer where the data is interpreted. The next one is the application layer which ensures that applications can use the protocol.

On the development side, the first complete solution for managing network congestion was also completed as Popov described:

‘’In particular, our proposed protocol is made up of two modules on top of rate control: (i) scheduling, which gives priority to transactions issued by certain nodes to share the throughput proportionally to mana; (ii) rate setting, which deals with local congestion, and it is inspired by AIMD.’’