IOTA Rebased: A Major Upgrade to Extend Adoption and Become a Pioneer in the Layer 1 (L1) Blockchain Space

IOTA has launched the IOTA Rebased Protocol to extend its adoption further and become one of the pioneers in the Layer 1 (L1) blockchain space.

Cryptocurrency platform IOTA (CRYPTO: MIOTA) announced the launch of IOTA Rebased, a Layer 1 (L1) protocol that will pave the way for further adoption.

Unveiling IOTA Rebased 🌀🚀The biggest upgrade in #IOTA's history to propel us on our mission to bring the real world to Web3:✅Parallelized MoveVM & EVM✅Full decentralization✅50k+ TPS & <500ms finality✅10-15% $IOTA staking APYMore 🧵🔗👇https://t.co/k1r4EUzMzc pic.twitter.com/znrEZrrjS8

What Is IOTA Rebased?

About two years ago, IOTA integrated the Move Virtual Machine (MoveVM) from the Sui blockchain into its platform. This decision was made due to the shared architecture and design of IOTA’s Directed Acyclic Graph (DAG) ledger with the Sui infrastructure. In essence, the approach involved parallelizing the MoveVM, which led to network amplification and efficiency.

Key Features Of IOTA Rebased

Decentralization:

The protocol also establishes 150 validators, making it considerably decentralized and secure.

High Performance:

The parallelized DAG-based ledger achieves the following:

Dual Virtual Machine Support:

By integrating both MoveVM and the EVM (Ethereum Virtual Machine), it will become the only L1 network of its kind to offer this capability.

Cost Efficiency:

Highly competitive transaction fees are realized, and a fee-burning mechanism increases the value and sustainability levels within the network.

Incentives For Staking:

10-15% staking APY for IOTA token holders and validators, respectively, are available on IOTA Rebased.

What It Means For Developers, Enterprises

The support for MoveVM and EVM will make it easier for developers to deploy decentralized applications (dApps) on IOTA, effectively lowering the barrier to entry. This, in turn, opens up the platform for broader utilization by builders, enterprises and even government entities for a diverse range of applications.

The Vision For The Future

As stated by the platform itself, Rebased is just the beginning, with more to be unveiled in the near future. At the R&D level, protocols are being developed to further enhance the network's scalability, reliability and support for a wider spectrum of applications.

This marks a new era for IOTA as it brings its full-fledged DAG-based ledger and cutting-edge technologies to solidify its position among the top-tier, most advanced and highly scalable blockchain platforms.