According to the official announcement, IOTA (MIOTA) is about to remove the Coordinator from the IOTA network.
IOTA is an open-source blockchain-based tech ledger which aims to power the Machine Economy with the help of low-fee microtransactions.
The announcement states:
“We are excited to open up the discussion about the next steps for IOTA, and in particular how the Coordinator can safely be removed.”
As it states, the main goal of the Coordinator is to secure the IOTA’s network from double-spend transactions while the network itself has no required resources to be intrinsically secure.
The IOTA team claims that though the Coordinator has some obvious issues, they don’t “justify removing Coo prematurely and putting users’ funds at risk.”
Having removed the Coordinator, IOTA wants to prove its intentions to be the true-decentralized blockchain network. For example, previously the IOTA Foundation even published a statement regarding the information that the founders of the group were disputing regarding the fact that two of them were still not on the Board of Directors.
Earlier, a multinational engineering and electronics producer Bosch in collaboration with IOTA have revealed their joint IoT product — Bosch XDK.
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