CandleFocus IOTA Rebased Empowers Developers with MoveVM’s Static Verification Tools
2025-01-28
Author: Content Editor
The Rebased Protocol by IOTA is preparing for its mainnet transition and has announced the introduction of layer 1 Move smart contracts to the ecosystem. The integration of layer 1 smart contracts will unlock programmability in Layer 1 to complement the IOTA Ethereum Virtual Machine in Layer 2. The protocol recently received 98% "Yes" votes from the IOTA community, paving the way for a smooth transition to the mainnet. The transition will require a minimum of two months of the testnet phase, a readiness review of all validators, a security audit, and integration on major exchanges. Independent validators have already onboarded the testnet, indicating increasing interest in the IOTA Rebased Protocol. Additionally, a new Builder Server on Discord has been created to facilitate collaboration and minimize disruptions. The Rebased Protocol aims to provide a ready-to-use network for stakeholders and will result in a Consensus switch to the Mysticeti protocol. It also aims to reduce transaction fees and achieve full decentralization of the L1 DAG through a delegated proof of stake mechanism.
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