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Cryptocurrency News Articles

Arnold Schwarzenegger Gives a Subtle Nod to IOTA (IOTA), the IOTA Rebased Protocol Initiative Takes Shape

Dec 18, 2024 at 08:25 pm

Renowned actor and former governor of California, Arnold Schwarzenegger, gives a “nod” to IOTA (IOTA) in a recent video posted on X. Even though the video has

Arnold Schwarzenegger Gives a Subtle Nod to IOTA (IOTA), the IOTA Rebased Protocol Initiative Takes Shape

Hollywood icon and former governor of California Arnold Schwarzenegger has given a “nod” to IOTA (IOTA) in a recent video posted on X. The video, which is without a caption or description, has attracted comments from several key IOTA players, including co-founder Dominik Schiener.

Reposting the video, Schiener declared his readiness “for some big IOTA moves in 2025.”

Meanwhile, the IOTA Rebased Protocol initiative continues to take shape as three new nodes join. According to a post shared by influencer Salima, the addition of Web3 infrastructure InfraSingularity, oracle solutions provider Matrixed.Link, and Cryptech, which manages nodes, now brings the total validator nodes on the testnet to 31.

🎬 Today, Arnold @Schwarzenegger gave a subtle nod to #IOTA (whether knowingly or not 🤖).

Meanwhile, three new nodes join #IOTARebased:

InfraSingularity, a leader in Web3 infrastructure

Matrixed.Link, delivering oracle solutions

Cryptech, managing nodes

We've… https://t.co/P9dIUcCRqy

The Public Testnet

The IOTA public testnet is reportedly designed to offer a stable and long-term environment for developers, validators, and users to test their applications with the Rebased Protocol. Elaborating on this, a recent blog post highlighted that the testnet would serve as a staging environment for potential protocol upgrades pending the official mainnet launch. In the meantime, it is set to feature an initial supply of 4.6B IOTA tokens, which are controlled by the IOTA Foundation.

Unlike previous iterations of testnets deployed by the IOTA Foundation, we will prioritize keeping the network running indefinitely and ensuring that there are no data resets. Over time, we also intend to decentralize the Public Testnet by delegating tokens to validators through a validator onboarding program (to be announced at a later stage).

Why the Rebased Protocol?

As we reported earlier, IOTA has observed that most of blockchain’s technological building blocks have been commoditized with faster confirmation times, greater decentralization, and smaller fees. According to IOTA, succeeding in the industry now goes beyond creating novel technology to building ecosystems and applications that drive utility and adoption.

Introducing the Rebased Protocol would unlock programmability and full decentralization in the network, creating substantial value for its token holders and the ecosystem.

With IOTA Rebased, we leverage our close to 10 years of experience operating in the blockchain market and building unique relationships with enterprises, governments, and regulators around the world to accelerate our mission to make IOTA a leading global infrastructure that brings the real-world on-chain. IOTA Rebased offers the opportunity to leapfrog and focus on what matters most for IOTA by getting adoption and increasing token utility.

On the other hand, amid the backdrop of this significant initiative, the price of IOTA remains substantially down from its all-time-high price of $5.6, recorded on December 19, 2017. Currently, the asset is trading at $0.35, having declined by 4.8% in the last 24 hours.

Conversely, IOTA’s 24-hour trading volume has increased by 37% as $80.49 million changes hands at press time.

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Other articles published on Dec 19, 2024