It’s definitely a good day for IOTA (MIOTA) investors. That’s because there is tremendous progress on the one thing they have been looking forward to, and that’s Coordicide. In a video, IOTA co-founder Serguei Popov has declared that they did it, when referring to Coordicide. He stated that,
For those new to IOTA, Coordicide is all about getting rid of the IOTA Coordinator. With the coordinator in place, IOTA is essentially a centralized project. This slows down IOTA scalability, and puts it at risk of collapse in case of an attack. That’s because, if the coordinator node is compromised, it would bring down the entire network. The IOTA team has been working on several theoretical approaches to Coordicide, and with the “we did it announcement” it means that one of these theoretical approaches has borne fruit.
However, this doesn’t mean that the coordinator will be going away any time soon. Now that they have made a breakthrough on Coordicide, the next step will be its implementation, and this could take time. It’s a complex process that has to be done in a way that ensures that the IOTA tangle remains as secure as possible.
Nonetheless, it is a big deal. That’s because, once implemented, it will literally take IOTA to the next level. IOTA will be fully decentralized, and one of the most scalable DLTs in the market. It will have what it takes to dominate not just in payments, but in the smart contracts market as well. In essence, with this breakthrough on Coordicide, IOTA is now easily one of the most undervalued projects in the market. That’s because, its potential for adoption is extremely mismatched with its current value, when trading at under a dollar. This is a crypto that was trading at over $5 during the last crypto rally, when most of these breakthroughs were nowhere close to being achieved.
With so much potential to grow, the next thing that investors can look forward to its implementation. Luckily, IOTA happens to have some of the best brains in crypto. A person like Serguei Popov is one of the best mathematicians in this space. He holds a Ph. D in mathematics from the Moscow State University, and is one of the people behind the theoretical aspect of the entire IOTA project. Other notable geniuses behind this project include David Sonstebo and Dominik Schiener. They have worked hard on IOTA so far, including in finding ways to remove the COO. There is no reason to believe that they won’t see through with the implementation of the theoretical model that they have discovered works best in driving IOTA towards decentralization.
When all these factors are put into consideration, IOTA (MIOTA) comes across as one of the most practical cryptos to hold for the next 2- 5 years. It has a bright future ahead of it.