{"id":19645,"date":"2019-08-13T10:48:37","date_gmt":"2019-08-13T10:48:37","guid":{"rendered":"https:\/\/www.englishforums.com\/news\/?p=19645"},"modified":"2019-08-13T10:48:37","modified_gmt":"2019-08-13T10:48:37","slug":"iota-to-spend-5-million-on-coordicide","status":"publish","type":"post","link":"https:\/\/www.englishforward.com\/news\/iota-to-spend-5-million-on-coordicide\/","title":{"rendered":"IOTA to spend $5 million on introducing Coordicide"},"content":{"rendered":"<p><b>IOTA, a permissionless distributed <\/b><a href=\"https:\/\/www.iota.org\/\" target=\"_blank\" rel=\"noopener\"><b>ledger<\/b><\/a><b>, is going to spend more than five million dollars (USD 5 million) to research and develop Coordicide, a plan to remove the centralized node, which is currently the cornerstone of the whole network.<\/b><br \/>\n<span style=\"font-weight: 400\">The main goal of the project is to offer users a transfer network without any fees. However, the way the network is currently structured allows the IOTA Foundation to prioritize transactions to be processed subjectively.<\/span><br \/>\n<span style=\"font-weight: 400\">With the introduction of a Coordicide network, the Foundation would not have such authority over transaction processing anymore. While most significant cryptocurrencies use blockchain technology, this network employs a different type of distributed ledger. <\/span><b>By using a directed acyclic graph (<\/b><a href=\"https:\/\/www.techopedia.com\/definition\/5739\/directed-acyclic-graph-dag\" target=\"_blank\" rel=\"noopener\"><b>DAG<\/b><\/a><b>) ledger, the network allows numerous transactions to exist simultaneously and tangle with each other.<\/b><\/p>\n<h2><span style=\"font-weight: 400\">IOTA invests in research<\/span><\/h2>\n<p><span style=\"font-weight: 400\">Innovation and research in the field of blockchain technology are becoming more popular. Higher education institutions all over the world have <\/span><a href=\"https:\/\/www.englishforums.com\/news\/australian-cryptocurrency-funding\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">started<\/span><\/a><span style=\"font-weight: 400\"> offering blockchain-focused courses, as this technology enters numerous sectors of business.\u00a0<\/span><br \/>\n<b>IOTA\u2019s goal to further develop and decentralize the network is proof that there is more to be expected from blockchain ledgers.<\/b><span style=\"font-weight: 400\"> A Coordicide system is a next step in the improvement plan for the IOTA Foundation.\u00a0<\/span><br \/>\n<span style=\"font-weight: 400\">Unlike other projects in the field, the system does not rely on third party mining to authenticate transactions, but rather on other users of the network. <\/span><b>With the introduction of Coordicide, the project will become more self-sustainable, if enough users are performing transactions.\u00a0<\/b><br \/>\n<span style=\"font-weight: 400\">The five million dollars investment will employ the scientific expertise of many decentralized ledger specialists and will lay the foundation for further development in the field of DAGs.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>IOTA, a permissionless distributed ledger, is going to spend more than five million dollars (USD 5 million) to research and develop Coordicide, a plan to remove the centralized node, which is currently the cornerstone of the whole network. The main goal of the project is to offer users a transfer network without any fees. However, [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":19649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[30],"tags":[350,383,591,780],"_links":{"self":[{"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/posts\/19645"}],"collection":[{"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/comments?post=19645"}],"version-history":[{"count":0,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/posts\/19645\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/media\/19649"}],"wp:attachment":[{"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/media?parent=19645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/categories?post=19645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.englishforward.com\/news\/wp-json\/wp\/v2\/tags?post=19645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}