The IOTA Foundation has undergone a major overhaul of its ecosystem, preparing to launch its mainnet with the launch of IOTA Rebased. This update introduces new blockchain technology for greater flexibility, security, and decentralization. It implements the Move Virtual Machine (Move VM) and shifts from a UTXO-based ledger structure to an object-based structure, allowing for programmability and the creation of smart contracts and dApps. The Move VM also enhances digital asset management, simplifies resource management, and enables code vulnerabilities to be detected prior to execution. The economic model includes a staking-incentivized system for network security and a small transaction fee that is burnt to offset inflation. The network will operate on a Delegated Proof-of-Stake (DPoS) model, with a minimum stake requirement to become a validator. Preparations for the mainnet launch include the release of new software tools and a public testnet.



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