IOTA Unveils Detailed Explanation of IOTA 2.0’s Architecture
Despite its stagnant price movement, IOTA has released a blog post providing comprehensive insight into the three scientific papers that form the foundation of IOTA 2.0. The highly-anticipated network upgrade is set to go live in the fourth quarter of this year, following the Stardust hard fork scheduled for October 4th.
The blog post delves into the extensive research and development that went into building the entire architecture of the IOTA ecosystem from scratch. The team behind IOTA 2.0 emphasizes that this upgrade is a testament to their progress in the field.
The first scientific paper highlighted in the blog post is the Network Paper, which outlines a framework for maintaining a decentralized ethos within the network. It introduces the IOTA Congestion Control Algorithm (ICCA), which ensures that only authentic transactions progress to the consensus stage, eliminating any malicious inputs.
This preliminary evaluation is crucial for upholding the integrity of a decentralized system like IOTA 2.0, providing a clean slate of transactions for the subsequent phase. Once vetted by the ICCA, these transactions are directed towards the main consensus process, as elucidated in the Consensus Paper. With pre-filtered transactions, the consensus stage can focus on validation and verification without being burdened by questionable inputs.
The blog post also touches on other facets of the IOTA 2.0 research papers, including efficient congestion control, resource-aware mechanisms, peak decentralization, lightweight scheduler protecting the P2P network, local traffic mirroring global congestion, permissionless access, and built-in resistance to spam.
In cases of congestion caused by spamming or high traffic, IOTA’s protocol selectively drops blocks. When the inbox buffer becomes full, the protocol drops the block with the greatest work divided by the user’s Mana. This ensures that blocks, especially those created by malicious users, are dropped without affecting the throughput of genuine users.
The Ledger Paper is described as the cornerstone of the entire network, introducing significant advancements. It encompasses facets such as a reality-based ledger, fast and parallelizable ledger progression, optimistic execution of transactions, and optimistic processing as a mitigation strategy. These features differentiate IOTA 2.0 from other platforms.
Lastly, the Consensus Paper presents the leaderless Nakamoto Consensus on IOTA 2.0. It outlines facets like the heaviest directed acyclic graph (DAG), leaderless consensus mechanism, streamlining conflict resolution, no need for total ordering, and enhanced network responsiveness.
In an update, IOTA 2.0 introduces a new architecture consisting of three layers: the Application layer, Communication Layer, and Network Layer. These layers are designed to support upcoming features such as tokenization, scalable smart contracts, feeless dApps, and sharding.
Currently, IOTA is trading at $0.1544, experiencing a 2 percent surge in the past seven days. Over the last 24 hours, the asset has gained nearly 3 percent.
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