The IOTA Foundation continues to make progress with respect to new developments for the IOTA core along with other developments taking place in the Shimmer ecosystem. IOTA’s core development team recently had some discussions regarding the progress made in the IOTA ecosystem.
As IOTA developers make an effort toward complete decentralization, the IOTA core node is now able to process Stardust transactions in a fully decentralized environment.
Stardust is an upgrade for the Shimmer and IOTA base layer, which expands their capabilities. With this upgrade, the base layer becomes a platform for multiple assets, where anyone can create their own tokens or NFTs. It also enables the connection between Layer 2 smart contract chains and the base layer, creating a secure and reliable bridge for seamless interaction between different smart contract networks.
Progress Made in IOTA Core
Jonas Theis, a research engineer at IOTA, gave a glimpse into the latest progress made within the IOTA ecosystem. Here are the three key areas where that have made progress:
Accounts and Mana: IOTA.go has been modified in order to support accounts at the UXTO level and additionally, commitments made to accounts/mana have been integrated into IOTA Core. At the same time, the team has been working on UXTO changes written down for a newly updated TIP. This will continue to be an ongoing development process, writes Theis.
Tips and Reference: The IOTA core platform will be able to select the correct tips while creating the correct references and not censoring conflicts, or parts of the tangle as well as connection to the tangle. This also includes a tip fishing condition (TSC). Some parts of the progress made here were already available on the GoShimmer platform.
Engine Switching: To bring better accuracy to the way of computing the cumulative weight, the IOTA team adopted a different way. Instead of “committed into” they have now chosen “committed to” for the calculation of the cumulative weight. now, the developers will work further to port network and verification code of attestations while implementing the chain switching rule along with the actual switching of the chain.
Key Developments Taking Place in IOTA
As per the latest reports, IOTA has been working to build UAE’s digital ecosystem. The UAE wants to use the IOTA blockchain to support various sectors and contribute to its technological advancements. The Minister of State for Foreign Trade, Thani Al Zeyoudi, had a meeting with Dominik Schiener, the co-founder of IOTA, to discuss how blockchain technology can benefit the UAE’s digital ecosystem and help it grow stronger.
On the other hand, institutional DeFi projects are choosing IOTA due to the platform’s compliance with MiCA laws.