{"id":106625,"date":"2019-05-28T13:28:45","date_gmt":"2019-05-28T20:28:45","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=106625"},"modified":"2019-11-07T02:37:46","modified_gmt":"2019-11-07T02:37:46","slug":"iota-launches-major-network-upgrade-coordicide-removes-centralized-network-coordinator","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/iota-launches-major-network-upgrade-coordicide-removes-centralized-network-coordinator\/","title":{"rendered":"IOTA launches major network upgrade Coordicide, removes centralized network coordinator"},"content":{"rendered":"<p>The IOTA Foundation announced the launch of Coordicide, a planned protocol upgrade which removes the network's centralized coordinator.<\/p>\n<p>According to the\u00a0<a href=\"https:\/\/www.businesswire.com\/news\/home\/20190528005495\/en\">press release<\/a>, Coordicide aims to provide a new type of decentralized mechanism for securing data and digital assets on <a href=\"http:\/\/cryptoslate.com\/coins\/iota\">IOTA\u2019s<\/a> <a href=\"https:\/\/www.iota.org\/research\/meet-the-tangle\">Tangle<\/a>-based network. As mentioned in the release, IOTA\u2019s Coordicide update will address three main issues with blockchain technology: high transaction costs, scalability challenges, and propensity towards centralization.<\/p>\n<h2>Coordinator Previously Maintained IOTA Network Security<\/h2>\n<p>While the <a href=\"https:\/\/cryptoslate.com\/iota\/\">IOTA<\/a> network was in its early stages of development, the protocol\u2019s developers created a Coordinator to ensure the security of user funds. As noted in the release, the Coordinator is a security mechanism that was designed to prevent double-spends and provide transaction finality.<\/p>\n<p>All transactions and activity facilitated by the Coordinator are validated by IOTA network nodes, \u201csuch that [user] funds cannot be lost nor transactions reversed,\u201d the platform\u2019s developers explained. Notably, IOTA\u2019s founders had planned to remove the Coordinator to achieve a greater level of decentralization.<\/p>\n<h2>Removing the Coordinator as IOTA Network Matures<\/h2>\n<p>Commenting on the planned removal of the security mechanism, David S\u00f8nsteb\u00f8, co-founder of the IOTA Foundation, remarked:<\/p>\n<blockquote><p>\u201cWe have been working towards the removal of the Coordinator since IOTA\u2019s inception. Now with the maturity and growth of the protocol, and the quality of our research team, we are bringing that promise to fruition.\u201d<\/p><\/blockquote>\n<p>S\u00f8nsteb\u00f8 also mentioned that IOTA was developed to address the inherent limitations of existing blockchain networks. He revealed that IOTA\u2019s design goals, which include creating \u201ca feeless and scalable solution,\u201d are \u201cbecoming a reality.\u201d<\/p>\n<h2>Major Milestone Achieved<\/h2>\n<p>According to IOTA\u2019s founders, the launch of the Coordicide protocol upgrade marks the completion of a major milestone. The project\u2019s developers are now planning to work on the Tangle-powered network\u2019s next phase of growth focused on enterprise adoption.<\/p>\n<p>As confirmed in the release, the IOTA Foundation recently established the <a href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&url=https%3A%2F%2Fblog.iota.org%2Fiota-research-council-bdfb73125e&esheet=51990600&newsitemid=20190528005495&lan=en-US&anchor=IOTA+Research+Council&index=3&md5=217379dea4db77684df1351ebb4a8917\">IOTA Research Council<\/a> and added more members to its research team. The Foundation\u2019s research efforts reportedly led to the successful development of the Coordicide security mechanism. It will now serve as an alternative, viable replacement for the Coordinator.<\/p>\n<p>The Coordicide security solution is based on a design that increases the overall flexibility of the IOTA protocol. These unique design features allow for faster transaction finality, greater scalability, and more efficient node management.<\/p>\n<h2>Based on Directed Acyclic Graphics (DAG) Data Structure<\/h2>\n<p>Per the release, the recent protocol update could potentially allow data streaming services and various other real-time applications to be hosted on the <a href=\"https:\/\/cryptoslate.com\/iota-news\/\">IOTA<\/a> network. Although the IOTA network has been developed using advanced cryptographic algorithms, it is notably not based on blockchain technology.<\/p>\n<p>Instead, the IOTA network is based on the <a href=\"http:\/\/users.monash.edu\/~lloyd\/tildeAlgDS\/Graph\/DAG\/\">directed acyclic graph<\/a> (DAG) data structure, called the Tangle. According to IOTA\u2019s developers, the platform\u2019s Tangle-based architecture has been created specifically for <a href=\"https:\/\/cryptoslate.com\/coins\/internet-of-things\/\">Internet-of-Things<\/a> (IoT) applications. It can also facilitate sophisticated Machine-to-Machine interactions such as secure data transmission and zero-fee real-time micropayments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The IOTA Foundation announced the launch of Coordicide, a planned protocol upgrade which removes the network&#8217;s centralized coordinator. According to the\u00a0press release, Coordicide aims to provide a new type of decentralized mechanism for securing data and digital assets on IOTA\u2019s Tangle-based network. As mentioned in the release, IOTA\u2019s Coordicide update will address three main issues [&hellip;]<\/p>\n","protected":false},"author":67,"featured_media":57705,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15323,37],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IOTA launches major network upgrade Coordicide, removes centralized network coordinator<\/title>\n<meta name=\"description\" content=\"The IOTA Foundation, a Germany-based non-profit, announced the launch of Coordicide, a planned protocol upgrade removing IOTA&#039;s centralized coordinator.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/iota-launches-major-network-upgrade-coordicide-removes-centralized-network-coordinator\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IOTA launches major network upgrade Coordicide, removes centralized network coordinator\" \/>\n<meta property=\"og:description\" content=\"The IOTA Foundation, a Germany-based non-profit, announced the launch of Coordicide, a planned protocol upgrade removing IOTA&#039;s centralized coordinator.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/iota-launches-major-network-upgrade-coordicide-removes-centralized-network-coordinator\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-28T20:28:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-11-07T02:37:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2018\/06\/iota-qubic-social.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Omar Faridi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"IOTA launches major network upgrade Coordicide, removes centralized network coordinator\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Omar Faridi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/iota-launches-major-network-upgrade-coordicide-removes-centralized-network-coordinator\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/iota-launches-major-network-upgrade-coordicide-removes-centralized-network-coordinator\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/omar-faridi\/#person\",\"name\":\"Omar Faridi\",\"url\":\"https:\/\/cryptoslate.com\/author\/omar-faridi\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/omar-faridi\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/omar-faridi\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/02\/omar-faridi-profile-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2019\/02\/omar-faridi-profile-300x300.jpg\",\"caption\":\"Omar Faridi\"},\"jobTitle\":\"Journalist\",\"description\":\"Omar enjoys writing about all topics related to Bitcoin, blockchain, and cryptocurrency. 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