IOTA co-founder Serguei Popov has published the May monthly update for the project detailing the current state of protocol-upgrade activities including ongoing work on Coordicide and GoShimmer.
Coordicide and GoShimmer Updates
In a blog post published on Medium on Thursday, May 14, 2020, the blockchain non-profit organization gave an update on the developments happening in the IOTA ecosystem.
One of the areas IOTA is working on is the Coordicide, which is aimed to make the network decentralized, as against the current Coordinator which is centralized. The company earlier released the first version of the Coordicide Alphanet back in February 2020.
The update provided by the company revealed that IOTA is working towards scaling developments for the Coordicide and the team has decided on a new naming scheme for the Coordicide structure.
Apart from Coordicide, IOTA says it is working on modalities to improve network optimization especially in the area of congestion control via a revamped algorithm. The end goal is to ensure that the network experiences minimum delays and eliminate the incentive for rogue actors by creating protocols that only affect the transaction throughput of malicious actors looking to game the system.
Concerning GoShimmer, IOTA’s work-in-progress prototype being designed to enable nodes to achieve consensus without the Coordinator protocol, the project update revealed ongoing work on revamping the dashboard with the addition of a new Tangle visualizer. Detailing the developmental works related to GoShimmer, Popov explained:
“A major effort has been dedicated to refactoring the entire value transaction process so as to make the code more stable and clean. We have also introduced the concept of synchronization. This means that a node joining the network is aware of its synchronization status by checking if the messages it is using as ‘anchors’ are solid or not.”
IOTA Continues to Pursue Robust Upgrades to Core Network Architecture
Back in April 2020, IOTA co-founder David Sønstebø revealed that the firm was discontinuing the development of the Qubic project and will instead focus on Tangle and smart contract implementations.
Apart from constantly improving the IOTA ecosystem, the foundation is also working to stay ahead of the curve. As reported by BTCManager a few days back, co-founder David Sønstebø in a crypto podcast interview said that the company is planning to develop a robust machine economy while also claiming that data will be the new oil.
Also, IOTA has also been involved with a couple of partnership deals. The company recently teamed up with Pickert to bring the Tangle distributed ledger technology framework to the smart manufacturing sector.