IOTA 2.0 Update: Testnet on the Horizon, Infrastructure Progresses

• IOTAcore, the node software that runs the IOTA 2.0 protocol, is seemingly ready to be released on a testnet for the first time, one IOTA expert has revealed.
• IOTA 2.0 will take a bit longer, however, as the team wants everything up and running flawlessly, including the node protocol, NFTs, native assets, wallets, the SDK and more.

The IOTA community is eagerly anticipating the launch of IOTA 2.0, which was promised to be this year, as Crypto News Flash reported. While most pieces are in place, one IOTA expert points out that we might still be a few months away from the full launch.

IOTA 2.0 is a protocol upgrade for the IOTA network that will introduce features such as fast and democratic consensus, uninterrupted transaction processing, increased decentralization and robust security. It will allow IOTA to cement its position as a global leader in blockchain utility with applications that span real-world asset tokenization, decentralized identity and digital autonomy.

According to one expert, IOTAcore—the node software on which IOTA 2.0 will run—is “basically ready.” As several community members have pointed out, the current state of IOTAcore on GitHub shows that the developers are through with their task and can only proceed once it debuts on the testnet to the community.

GM #IOTA Fam

it's time again to give you a short update on the latest developments of IOTA 2.0.

Most of you have recognized, that the IOTA core repository on GitHub shows, that the node software is basically ready for the public testnet.

But why isn't it here yet?

… pic.twitter.com/MJR4ABGPG5

— ID.iota (@id_iota) May 5, 2024

However, launching IOTAcore doesn’t equate to the IOTA 2.0 upgrade. IOTAcore is just the node software, and while it underpins everything, it’s one of several improvements that constitute IOTA 2.0.

The expert notes:

IOTAcore is the node software that runs the protocol. It is however just a part of the 2.0 upgrade, that contains an updated tokenomics model, a new VM and more.

IOTA 2.0 Will Change the Game

Checking the GitHub repo reveals that IOTA 2.0’s only remaining task is defining the recommended node hardware, as shown below.

The expert warns, however, that this doesn’t mean IOTA 2.0 is here, stating:

While this is a pretty strong confirmation that the team feels they are done and aren’t able to find too many new bugs themselves, this doesn’t mean we will get a public IOTA 2.0 testnet in two weeks or so.

After completing the development of IOTAcore, the developers will move on to the other components of IOTA 2.0. These include integrating native assets, NFTs, Layer 2s, explorers, wallets and software development kits (SDK).

However, these aren’t too far from completion. Firefly, for instance, has resolved 253 out of the 261 issues raised regarding its integration into IOTA 2.0. The SDK team has 21 issues left to solve, from an initial 178, and, according to its GitHub board, expects to be done before the end of May.

The expert concluded:

To conclude all of that information… Testnet is here and running. Currently just internally for the protocol devs, soon however public. Q2 seems challenging. Not for the iotaCore protocol, but for all the infrastructure that is being built around that.