IOTA Foundation Releases 2.0 Testnet, Enters Base Layer Race

The crypto news today show that the IOTA Foundation releases the 2.0 testnet with which it addresses the technical feature that nuked the blockchain-like network for nearly two weeks earlier in 2020.

On Wednesday, the team announced that it is doing away with the “coordinator” that previously validated all of the blockchain transactions. In the new “coordinator-less” network billed as IOTA 2.0, it will rival other smart contract platforms such as Ethereum, EOS, Tron, and Cardano.

IOTA’s MIOTA token now ranks as the 24th largest cryptocurrency by market cap, according to data from CoinGecko. The new “Pollen” testnet will serve as a research testbed for a new “last probabilistic consensus” mechanism. The IOTA Foundation releases the new testnet, where the new network will support decentralized applications (dApps) and smart contracts which can transact without incurring any fees.

For those of you who don’t follow our IOTA news, we can say that the IOTA coordinator node responsible for confirming all of the transactions is now online again. The token is benefiting from these news too.

Now, there are only a few coins in the altcoin news which are as popular and notorious as IOTA, which skyrocketed from $0.34 a token in November 2017 to a price of $5.36 per token in December 2017. The CIO of the Nordic cryptocurrency investment firm Arcane Assets, described this project as “the worst coin to have gotten as high as it did.”

However, there have been many new examinations as the IOTA Foundation releases the new network. In the MIT Tech Review ran a scathing review of the IOTA protocol and its insecurities, but plenty of other reputable institutions appeared to endorse the project by inviting the founders to speak about IOTA at the academic and professional events.

The IOTA subreddit is also on fire, with more than 115,000 subscribers and plenty of daily active users. The nonprofit is also now a member of the Linux Foundation. After turning off the coordinator node in February 2020, the IOTA Foundation releases a lot of new options now and could definitely be a game changer in 2020 for many investors.

Currently, the price of MIOTA is at $0.2337 with a 3.72% rise on the day at press time.