The IOTA Foundation has proposed a transition to a new protocol called "IOTA Rebased" to increase ecosystem growth through decentralization, scalability, and programmability. The protocol offers a decentralized Layer 1 backed by the Delegated Proof of Stake consensus model and supports Move-based smart contracts. Features include high transaction speeds, low fees, and staking rewards. The proposal is currently being voted on, and if passed, IOTA Rebased will replace the current protocol. The adoption of MoveVM aims to make IOTA part of the broader Move ecosystem and enable compatibility with EVM applications and advanced cryptography.



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