IOTA is rebasing its Layer 1 (L1) IOTA protocol on a new one called IOTA Rebased in an effort to accelerate adoption. The move is expected to introduce real-time value and improve programmability and full decentralization. The new protocol will support both MoveVM and EVM, lowering the entry barrier for dApps to deploy on IOTA and encouraging innovation in various applications. The Rebased Protocol will also incorporate a delegated proof of stake protocol to distribute consensus voting rights and remove centralized and permissioned components. The voting process for the protocol will start on December 2. At present, IOTA is trading at $0.18.



Other News from Today