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Jul 15, 2023

IOTA 2.0 Development Update Unveils Major Milestones in Mempool Implementation, Accounts & Mana, and API Development

The IOTA Foundation has been working on the launch of the updated IOTA 2.0

The IOTA Foundation has been working on the launch of the updated IOTA 2.0 architecture and has made some progress in this regard. There have been a few developments made with the IOTA 2.0 node software.

Currently, the IOTA blockchain relies on the node software Hornet which currently runs on the Shimmer Layer 1. However, to enable voting, native tokens and NFTs on the base layer, Hornet does make use of the Stardust Virtual Machine. But this base layer still depends on a centralized coordinator for approving transactions and milestones in the Tangle. Although the coordinator cannot modify transactions or accounts, there lies a centralization risk as it can be turned off.

To address this, the IOTA Foundation is working on a fully decentralized node software to disable the coordinator and thus achieve Coordicide. IOTA's research engineering team has also built a prototype node software GoShimmer, as a proof of concept, which demonstrates the feasibility of the Coordicide ideas.

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However, the IOTA team has chosen to work on the production-ready node software called iota-core instead of working on the GoShimmer MVP. The IOTA core will serve as a replacement for the Hornet code and will be responsible for running the Shimmer Network initially. Later, in the future, it will also power the entire IOTA network. Let's take a look at some of the developments initiated by the IOTA-core node.