IOTA Set for Major Upgrade on May 5
on May 5, IOTA will roll out its biggest network upgrade yet. The mainnet will switch to the new IOTA Rebased protocol. This update brings full decentralization, staking, and Layer 1 smart contract support using MoveVM. It also boosts scalability to over 50,000 transactions per second.
The rebased protocol replaces IOTA’s old architecture with a delegated Proof-of-stake (DPoS) model. it starts with 50 permissionless validator slots, aiming to reach 150. This shift to decentralized consensus prepares IOTA for complex apps and wider use.
Key features include staking rewards for IOTA holders, with annual yields of 10-15%. A new fee-burning system and low adaptive transaction fees are also introduced. the IOTA Gas Station will let developers cover transaction costs for users.
MoveVM smart contract integration allows developers to build decentralized apps directly on IOTA.This makes IOTA the third network, after Aptos and Sui, to offer MoveVM at Layer 1. The IOTA EVM will work alongside movevm.
Initial Genesis validators include IOTA Foundation, luganodes, Stakin, and Nansen.This upgrade aims to attract institutional and governmental use cases like digital identity and supply chain infrastructure.
The Rebased upgrade follows community approval and a full audit. it marks a significant step in IOTA’s evolution, making it faster, more secure, and fully community-run.
