Dominik Schiener recollects how IOTA started 2021 with “A New Dawn” – the start of IOTAs transformation. The Chrysalis mainnet upgrade has introduced a complete rewrite of IOTA, with only the Tangle (DAG) remaining. UTXO EdDSA Firefly Rust and Go only.
He reinstates that Life is all about the journey and the people we share it with. The 2021 rollercoaster with the usual ups and downs has seen a fundamental transformation of IOTA, our direction and our ecosystem. 2021 Highlights & What to expect in 2022.
Further summarizes stating, The Chrysalis upgrade was a big success, with 90% of the IOTA supply fully migrated (more than $3.5b) With this upgrade, we began to broaden our vision by introducing exciting new utility features on L1 and L2, and accelerate the transition to IOTA 2.0 (Full Decentralization).
Our objective is clear: Build the best possible Layer 1 DLT that is feeless, fully decentralized and minimizes trade-offs. We want to solve the Blockchain Trilemma and help Crypto, Web3 and Decentralization go mainstream. Big claim. How are we making this a reality in 2022?
First of all, IOTA is becoming a multi-asset ledger, supporting native tokenization. Any crypto asset can be minted in the IOTA ledger and be feeless. In addition, we have L1 scripting (output types) for more advanced transactions and use cases.
Building on the Tokenization framework, they have smart contracts on L2, which offers their ecosystem infinite possibilities of building Dapps on IOTA EVM compatible. Build their own Chain, Define fees, etc.
The last remaining puzzle piece is the removal of the Coordinator and our full decentralization. This is why we have IOTA 2.0, our leaderless consensus protocol. The Testnet has been running for months, with the next major upgrade around the corner.
Community Reaction: Thanks to the whole IOTA team for the possibility to join the ride in your rollercoaster, being part of your vision that is so mind blowing. Wishing you guys all the best and maximum success in 2021! Peace, love and happiness.
What a great ride this year and more to come, I’m curious, where the journey goes to.
Visionary + Delivery = Awesome. Great vision, great progress.
You are talking about highs and lows. You need to explain this more precisely, because apart from the price, I don’t see any lows in 2021 with IOTA. Since you are not responsible for the price development, as you have delivered magnificently until the end.