- The Stardust upgrade will revolutionize the IOTA network through tokenization and the introduction of L2 smart contract chains.
- Users staking for Assembly tokens will see a new Firefly wallet version displaying their airdrops.
In an era where blockchain technology is undergoing seismic shifts, the IOTA network heralds a transformative phase with its Stardust protocol upgrade today at 8 AM CEST. Set to tokenize the network and enable the anchoring of L2 smart contract chains, this pivotal upgrade comes into the spotlight, especially given its endorsement by influential platforms, as seen in the “IOTA Stardust Upgrade and Announcement by Binance.
Technical Facets of the Stardust Upgrade
The Stardust protocol introduces a significant chapter in IOTA’s journey.
“The existing IOTA network will witness a fork, creating a nuanced duality: the main IOTA network pivoting to the Stardust protocol with an augmented supply, and the IOTA Classic retaining the legacy supply yet embracing the Stardust protocol,” states a source close to the upgrade process.
To facilitate this transformation, a verifiable ledger snapshot will be made public on GitHub, ensuring transparency for all stakeholders involved. For those maintaining nodes, it’s paramount to update their software to the imminent Hornet release, earmarked as version 2.0.0, suggests an IOTA insider.
In sync with this, the Firefly IOTA version 2.0.0 will be up for grabs once the network is live. While the endpoint for IOTA Classic is designated, it currently lacks any official software backing.
Binance’s Unwavering Commitment
Binance, a global crypto exchange behemoth, recently reinforced its allegiance to the upcoming network shifts, notably the IOTA upgrade. As emphasized in their announcement,
“trading of the tokens will remain uninterrupted, but a transient halt in deposits and withdrawals might be instituted to guarantee fluid transitions.”
This affirmation underscores the gravity of the IOTA Stardust upgrade and resonates with the conviction of industry titans about its potential.
A Bridge to the IOTA Community
In a bid to enhance user experience and community involvement, users who have staked for Assembly tokens are in for a treat with an airdrop, which will be prominently featured in the latest Firefly wallet iteration, reveals an IOTA community manager. Following the Stardust upgrade culmination, users can instantly access about 10% of the airdropped tokens. The remaining bulk, 90%, will be gradually unlocked bi-weekly over a span of two years. Crucially, no actions are imperative on the part of the users to either shift tokens or access the airdropped IOTA tokens.
Recommended for you:
Subscribe to our daily newsletter!
No spam, no lies, only insights. You can unsubscribe at any time.
