Iota Foundation, the company behind the Iota blockchain project has announced plans to remove network Coordinator and become a fully decentralized network by Q1 2021. According to a June 30 announcement, the Iota blockchain has entered the first phase in its roadmap for upgrading the network to IOTA 2.0.
The release is the first phase in the IOTA 2.0 transition roadmap in which the Iota Foundation laid out 3 phases to reach the so-called “Coordicide”. This is an event which is aimed at the permanent removal of Iota’s Coordinator. Coordinator represents an application run by Iota Foundation to digitally confirm valid transactions.
Pollen, which marks the beginning of IOTA 2.0, is the world’s first truly decentralized, fee-less distributed ledger. It is the first phase in IOTA’s 3-part release strategy that will culminate in the foundation’s coordinator-less production-ready network. Pollen is a research testbed where the Iota community, researchers and engineers can test and validate the concept of IOTA 2.0.
As noted in the announcement, Pollen represents a major upgrade with respect to the previous version of the Alphanet. Some of these new features include, improved stability and instrumentation of both the autopeering and the gossip modules. The previous dashboard has also been enriched with a brand new Tangle explorer and visualizer.
This new release also comes with the introduction of a new architecture made up of 3 layers. They include the network layer, communication layer and application layer. The new architecture will provide support for future features like Tokenization, Scalable Smart Contracts, Feeless dApps and Sharding.
The network layer manages connections and packet transmission between nodes, while the communication layer creates a standardized platform for storing and communicating information. The application layer also allows developers to freely design decentralized applications while abstracting away the lower layers.