IOTA Co-Founder on Coordicide: “We Did It” – What’s In it For Investors?

The IOTA (MIOTA) project is on the verge of taking the next step in its project by removing its coordinator from the mainnet. “Coordicide”, as it is known, is currently in its research phase and the team is studying how “making the inner workings of the current network set-up fully transparent.” The coordinator plays a role in this.

Dr. Serguei Popov, co-founder of IOTA, also hinted at the introduction of Coordicide in a video posted earlier on May 27, saying that the main goal of a recent meetup of researchers in Barcelona was to “figure out how to kill this coordinator”,

What is Coordicide?

IOTA’s official description for Coordicide, from a blog post on April 8, reads,

The open source Coordinator, called Compass, was originally released a few months back. One of its main functions was that it allowed anyone to set up a private network, run tests, or develop PoCs more easily than before…[it] is an important part of the IOTA networks, protecting the network from adversarial parties. We believe that using the open source version will improve all the aspects of the networks, while making the way they work more transparent for everyone.

The coordinator helps prevents attacks in the early stages of IOTA’s network. It prevents double spends and ensures validation by when transactions are referenced by “milestones.” This technique takes away from decentralized nature somewhat, but it is a necessary security measure. Coordicide is a step towards more decentralization,

What’s in it for Investors?

Coordicide is a big move forward for IOTA and this has already been performed on the test, allowing for various ideas to be tested for the purpose of making IOTA decentralized and scalable at the same time. The project’s Directed Acyclic Graph (DAG) is one of its most prized features, and IOTA supporters and potential investors will no doubt be keen to see this happening. Such a move might even see IOTA jumping from an excellent altcoin to one of the top coins in the market.