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IOTA Cryptocurrency (MIOTA): The Stardust Upgrade

The IOTA ecosystem brings a major utility upgrade, which goes by the name of Stardust. The improvements, as well as the various innovations, will soon arrive on the network, once the tests have shown their effectiveness.

Announcement of IOTA’s big Stardust upgrade

What Stardust aims to bring to IOTA and Shimmer

The processing of smart contracts on the IOTA blockchain does not happen directly on Layer 1. They go through specialized blockchains that are designed by developers. A fraction of the capacity of the IOTA network and that of Shimmer must be used for the anchoring of smart contracts, as well as their execution.

The utility chains will be an assembly network that connects smart contracts with each other, through the underlying network of the IOTA system or Shimmer. As a result, smart contracts will have a multi-chain environment, but will go through a common Layer 1.

The Stardust upgrade will update the base layer so smart contracts can easily interfere with each other. The creation, preservation and management of assets will be done without much effort on Layer 1.

Important features of Stardust

The features provided by Stardust are numerous. Here is an overview of the important functions that will be added to the IOTA ecosystem.

First, there is the limitation of data and byte costs. Stardust will set a cap on the data to include inside transactions. The more tokens there are in the content of the transaction, the more the cap will extend. This new upgrade will increase the usefulness of the registry for storing data. Its size will depend on the number of tokens existing and in circulation on the IOTA network and that of Shimmer.

Thanks to Dust Protection, the new Stardust upgrade will prevent the registry from getting bloated with spam. This will secure the data within the distributed ledger. In addition, the nodes of the IOTA and Shimmer networks will keep a copy of data that will always be accessible. However, the price of this conservation for users represents the locking of tokens.

Finally, the introduction of an exit unlock condition concerns in particular the sending and deposit of tokens on the ecosystem. When a sender sends the number of tokens required for a deposit, the recipient will make a replacement with their own tokens, upon receipt of these. After that, the replaced tokens will be returned to the sender. The latter will be able to define the deadline for replacing the tokens of the deposit.

More simply, in the context of an auction for example, several users will bid on an NFT. If the unlocking condition is represented by the end of the auction then only the highest bid will be accepted by the platform. This means that all other offers will automatically be sent back to participants.

Conclusion

So far, it’s safe to say that Stardust will be the biggest upgrade in the ecosystem IOTA, since the creation of cryptocurrency. As soon as it is officially put online, it will be able to claim this title. The above features are just a part of Stardust’s innovations. A more detailed list will soon be updated by the project teams. Whether this upgrade lives up to user expectations remains to be seen.

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Source: Cointribune

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