IOTA Confirms the Launch Testnet in Q1 2021

by in Blockchain News

IOTA 10/24/2020

Iota, a popular blockchain project designed for the Internet of Things is getting ready to launch its distributed ledger.

During a recent interview with IOTA’s founders, Dominik Schiener and David Sonstebo told some details about the IOTA’s development in the sense of Chrysalis phase 2’s launch. A crucial move towards IOTA network progress is Coordicide's mainnet expected in 2021. Coordicide will be the scalable distributed ledger of the protocol. Sonstebo mentioned that the team is pretty excited looking forward to the event.

Talking about Chrysalis, Dominik Schiener mentioned that it has been the company's primary goal considering the technological issues. Besides, he noted that Chrysalis was a roadmap developed from Coordicide.

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The official incentivized testnet will be available in Q1, following which, parallel testing and verification of key elements will take place right away to make sure Coordicide issues.

The goal of IOTA is to create the world's first public and production-ready ledger that requires no fees. As it was reported, the Chrysalis testnet will be released in the following 2-3 weeks.