The post IOTA Rebased Proposal Highlights: 50k+ TPS, MoveVM, EVM Support, and Full Decentralization appeared on BitcoinEthereumNews.com.

The IOTA Rebased proposal introduces a transition from the UTXO model to an object-based architecture for improved programmability, resource management, and throughput exceeding 50,000 TPS It also incorporates a deflationary tokenomics model, nominal transaction fees, and validator incentives to enhance network resilience and scalability. IOTA Foundation has recently developed a revolutionary proposal to rebuild its blockchain framework, referred to as the IOTA Rebased protocol. This endeavor seeks to establish a completely decentralized Layer 1 (L1) network with the addition of advanced features. These new features include Move Virtual Machine (MoveVM), Ethereum Virtual Machine (EVM) support, and a revised tokenomics model. IOTA’s Rebased Proposal Highlights This proposal revolves around the transition from the current UTXO model to an object-based architecture powered by MoveVM. The change would improve programmability and enable resource-oriented programming, static verification, and formal contract validation. The improved programmability is expected to allow applications beyond the current protocol’s limitations, from financial services to supply chain systems. Another aspect of MoveVM is that it introduces strong data abstraction capabilities, which simplify complex tasks in resource management. Moreover, the IOTA Rebased proposal also aims to bring higher throughput, projected above 50,000 TPS on the network, per the CNF report.  Further, the initiative would consist of restructuring the consensus model to ensure the network performs well under worst-case conditions. This would aid in improving latency and resilience. Additionally, the proposed tokenomics model introduces staking rewards and transaction fees, deviating from IOTA’s feeless structure. Meanwhile, for reward incentives, validators and delegators will receive payments in newly created tokens, with a per-epoch minting rate equivalent to around 767,000 IOTAs, thereby providing a 6% yearly supply increase through this inflationary process. This will naturally decline towards lower levels as time passes. The staking amount is a minimum of 2 million IOTAs; however, it will allow…

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Filed under: News - @ November 27, 2024 10:25 pm