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Despite the short-term correction, the blockchain industry has seen altcoins surge. IOTA, the altcoin ranked 27th on CoinMarketCap, has risen sharply in the rankings since the beginning of the month.
Dominik Schiener, co-founder of IOTA, recently conducted one of his formal AMA workshops. He explained some of the most relevant topics related to the evolution of IOTA and its changes, Chrysalis and Coordicide.
To start, Schiener responded to a query about the difficulties that IOTA 2.0 or Coordicide could face during the deployment period. One of the challenges that the community of developers encountered was locating and fixing glitches in main components.
During the AMA session, the co-founder expressed his excitement about the company’s success.
“Coordicide will fully decentralize IOTA. On the theoretical side we are doing very well to deliver what is promised which is a fully decentralized IOTA. I think the biggest risk is the implementation.”
At this very moment, IOTA targetted Q4 of this year as a tentative date for Coordicide’s rollout. However, this depends largely on the results of the incentivized testnet, Schiener said:
“A lot of that will depend on how well the incentivized testnet goes, that’s why we always say that the incentivized test network is the most important part of Coordicide. That’s where the research combines with the implementation to test in an open environment.”
Schiener also discussed questions around data sharding. The Value Tangle team, like the Coordicide team, went through all of the “paths” and potential implementations for this part. According to Schiener:
“I think when it comes to sharding, if I had to sum it up, I think the biggest risk is going to be building a solution that is going to kill IOTA adoption. In a similar way of how they said the biggest risk to Ethereum is Ethereum 2.0.”
What’s interesting to note here, is the analogy with ETH and ETH 2.0.
Keeping all the risks in mind, Schiener concluded:
“With that in mind, the team have received feedback from their corporate partners to create a solution that the market wants. In large part, Chrysalis will be the culmination of that feedback.”