IOTA replaces Coordinator with Coordicide protocol
The IOTA foundation announced a new protocol update called "Coordicide" , which will see the removal of the Coordinator that has plagued the project for the longest time as being centralized and other scaling issues. With Coordicide, IOTA may finally achieve decentralized and scalable DLT.
As news of the announcement made its rounds through the cryptosphere, IOTA's price too reacted accordingly, seeing more than +22% gain and continuing the rally that began on 26th May.
Some of the crowd's reaction:
- Do we think IOTA has much left in the tank? We’re nearing a second resistance level due to the news, but I’m thinking it might be an opportune time to exit stage left and wait for the retrace.
- I believe IOTA will change that in the future. IOTA will be incredible if/when coordicide is working. Nano is working great as a P2P now. They both have their merits IMO.
- So, I hold an equal amount of IOTA and NANO. So far, NANO's claim to fame (and the reason for my investment) was that it does very fast, free transactions, thus making it an ideal currency. With coordicide, and from what I read, it seems IOTA can now do
- I don't even like IOTA anymore despite holding for over a year and selling a few months back - but it has a much better wallet than any other crypto I have seen.
Looks like most are comparing NANO vs IOTA and with the latest update, IOTA might just be the leader.