IOTA Launches Rebased Protocol, Here's The Advantage!

IOTA crypto assets. (Photo; The Site)

JAKARTA - The IOTA Network (MIOTA) as a leading crypto platform, began to show off by launching a comprehensive report regarding the Layer 1 (L1) protocol update called IOTA Rebased on November 18, 2024. This update aims to significantly increase the scalability, decentralization, and programmability of the network.

Since its introduction in 2015, IOTA has been trying to overcome the weaknesses of traditional blockchains, such as high energy use, dependence on miners, and expensive transaction fees. IOTA uses a unique structure without proof-of-work consensus, enabling more efficient networks. For nearly a decade, IOTA has established strategic partnerships with governments, leading companies, and global research institutes.

IOTA Rebased's Advantages

IOTA Rebased has extraordinary advantages, especially in terms of scalability with the ability to process more than 50,000 transactions per second (TPS). This technology uses the Mysticeti consensus protocol which is designed to have high performance with low latency, thus being able to process large transactions in seconds.

One of the main innovations in IOTA Rebased is the introduction of direct Move-based smart contracts in the L1 protocol. This allows the development of decentralized applications (dApps) with various use cases, such as token-based trading financing, stablecoin adoption, to the development of the decentralized financial sector (DeFi).