KEY TAKEAWAYS
- The IOTA community has overwhelmingly voted to upgrade to the Rebased protocol, marking a significant development milestone.
- The proposal received 98.37% support from IOTA token holders, with a participation rate of 7.52%.
- The IOTA Foundation is preparing for the mainnet release, with a public testnet already live for developers and partners.
- Conditions for the mainnet release include a two-month testnet phase, security audits, and integration by major exchanges.
The IOTA community has voted decisively in favor of upgrading to the Rebased protocol, marking a significant milestone in the project’s development. The governance vote, which took place from December 2nd to December 17th, saw a substantial majority of IOTA token holders supporting the transition to the new protocol.
According to the official results, the proposal to upgrade the IOTA Mainnet to the Rebased Protocol received 31,647,575,919,696,580 votes in favor, accounting for 98.37% of the total votes. Only 1.48% of the votes opposed the upgrade, while 0.15% abstained. The participation rate in the vote was 7.52%, and the results have been verified by node operators, as detailed in a GitHub pull request.
The Path Forward for IOTA
With the community’s mandate, the IOTA Foundation is preparing for the mainnet release of the Rebased protocol. The public testnet is currently live, allowing partners and application builders to test and develop applications on the new technology stack. The Foundation has invited developers to join this initiative and contribute to the protocol’s advancement.
Independent validators are also participating in the testnet to strengthen the technology stack and operational procedures. This effort aims to ensure that the Rebased mainnet launches with a decentralized set of entities, enhancing its resilience.
Conditions for Mainnet Release
Several conditions have been set to ensure a smooth transition to the Rebased mainnet. These include a minimum two-month testnet phase with thorough stress testing, a readiness review of all validators, completion of security audits, and integration of the Rebased protocol by major exchanges. Once these conditions are met, the IOTA Foundation will announce the release date for the new mainnet.
The IOTA Foundation has expressed optimism about the future, citing the overwhelming support from the community and partners as a promising sign for the project’s direction. The Rebased protocol is seen as a pivotal upgrade in IOTA’s history, with the potential to enhance its technological capabilities and ecosystem.
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