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Iota 2.0 ‘Nectar’ DevNet is launched to achieve full decentralization

The roadmap to Iota 2.0 has reached another milestone when the Iota Foundation launches Nectar DevNet.

In a blog post released on Wednesday, the Iota developer announced the news of the launch of Nectar DevNet, which is an essential part of the preparatory work for the launch of IOTA 2.0 scheduled for the end of 2021.

Nectar DevNet is following in the footsteps of the Chrysalis update and is an expansion of Pollen Testnet released in June 2020. Iota 2.0 DevNet is setting the stage for the transition to a commission-free, permission-free, and fully decentralized tangle network.

According to the announcement, the absence of a centralized Coordinator is one of the main elements of Nectar DevNet. In fact, in Iota 2.0, the legacy Coordinator system will be replaced by a decentralized Coordicide.

In February 2020, hackers attacked Trinity, Iota’s native portfolio, stealing around $ 2 million and causing a network downtime that lasted nearly a month to prevent further damage from the attack.

Since the hacking of the Trinity portfolio, Iota has advanced with its planned transition to total decentralization and the emergence of incentive co-ordination. According to the statement, the Iota Foundation will reveal that Nectar will be based on network consensus validation with honest nodes that earn Raja tokens as a reward.

In addition to free transactions and complete decentralization, tokenization capability is another important feature of Nectar Iota 2.0 DevNet. The research prototype offers the first opportunities to create digital assets such as utility “coins” and non-expendable tokens on the Iota network.

Nectar also comes with a modular architecture that allows developers to implement specific updates and bug fixes in isolated modules.

Commenting on the launch of Nectar DevNet, Iota Foundation co-founder Dominik Schiener called the Iota 2.0 research prototype a “game changer”. According to Schiener, Iota developers are eager to receive helpful feedback on Nectar’s capabilities in preparation for the main Coordicide update.

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