The development team of Norwegian startup IOTA, which is working on implementing Tangle, announced the transition to the next stage of project development. This immediately sent the price of the token in the sky. From its low of 42 cents IOTA rose by 21% and reached 53 cents. Just a day daily trading volume jumped almost three times, from 44 to 121 million. A large part of its trading volume accounted for Binance is the largest crypto currency exchange handles up to 40 percent of all transactions.
Recall that the price of IOTA did not rise above 50 cents since the beginning of November last year. As with many Althingi, recovery was slow. Looks like Bitcoin took all the credit as the most dynamic cryptocurrency. The last time IOTA grew in value after the announcement of the partnership with Jaguar Land Rover.
Since then, the project perked up slightly.
What is the reason for the growth?
The team spoke about a new stage of development, who received the fateful name “Coordicide: the death of the Coordinator”. Without a detailed acquaintance with the technology of the underlying platform it is not easy to understand what was going on. As shown in the video, in its infancy, the basic data structure IOTA Tangle was protected time component Coordinator.
IOTA Announces Coordicide Solution: A Distributed Ledger Technology which Removes the Barriers to Real-World Adoption. https://t.co/g7qdimiDew
More details on https://t.co/Gx8P2tMgtH#IOTA #Coordicide
— IOTA (@iotatoken) May 28, 2019
All actions are checked by the Coordinator nodes in the network, so funds can’t be lost or revoked. The next step in the evolution of IOTA is scheduled for removal Coordinator. The event was commented co-founder of Iota David Senstive.
We are working to resolve Coordinator since the inception IOTA. Now that the Protocol and the experience of our research team has grown, we will make this plan a reality.
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