- IOTA’s Stardust upgrade set for October 4th, heralding tokenization and L2 smart contract anchoring.
- Binance confirms support for network upgrades of Sei, IOTA, and Arweave, ensuring seamless transactions for users.
Inside the Stardust: IOTA’s Leap into the Future
The blockchain realm is abuzz with the forthcoming Stardust protocol upgrade on IOTA’s network. Slated for October 4th, this significant enhancement introduces a tokenization framework, providing the network with the capability to anchor Layer 2 (L2) smart contract chains.
But what does this mean for the typical user? At its core, tokenization enables the representation of real-world assets on the blockchain, a move that could drastically expand IOTA’s utility in sectors beyond mere currency transactions. The addition of L2 smart contract chains offers greater scalability and efficiency, further solidifying IOTA’s commitment to innovation.
Moreover, this upgrade isn’t merely an enhancement. It’s accompanied by a fork in the IOTA network. This fork will birth two distinct entities: the IOTA network based on the Stardust protocol version boasting an increased supply and IOTA Classic, retaining the old supply but also leveraging the Stardust protocol.
With this upgrade hovering on the horizon, IOTA has been meticulous in its preparations. A proven track record exists for the Stardust protocol version, with its successful deployment on the Shimmer network since September 2022 without any hiccups.
For Node Maintainers and Users
If you’re a node maintainer on the IOTA network, it’s imperative to keep abreast with the evolution. Post Stardust upgrade, updating your software to the imminent Hornet release (version 2.0.0) becomes crucial. Additionally, the new Firefly IOTA version 2.0.0 will be available for download, post-upgrade. It’s also noteworthy that IOTA will not cater to any tooling or software needs for the IOTA Stardust Classic network.
In a user-centric move, those who’ve previously staked for assembly tokens will receive an airdrop, visible within the Firefly wallet. Users can expect around 10% of the airdrop immediately post-upgrade, with the remaining amount vesting biweekly over two years. A seamless experience is anticipated, with no required user actions for token migration or accessing the airdropped tokens.
Binance’s Support Ensures Smooth Sailing
Renowned exchange Binance has thrown its weight behind this blockchain evolution. They’ve announced unwavering support for the network upgrades and hard forks of Sei, IOTA, and Arweave. This endorsement is a testament to the significance of these upgrades in the blockchain arena. Binance users can rest easy, as the platform will manage all technical prerequisites, guaranteeing uninterrupted trading.
As blockchain enthusiasts, developers, and investors alike await this pivotal moment, IOTA‘s Stardust upgrade stands as a beacon of the ever-evolving promise of blockchain technology.