IOTA publishes year in review for 2019 and year in preview for 2020

By Steven Anderson January 2, 2020 Off
iota

The price of IOTA for today is $0.157981, with a 24-hour trading volume of $3,562,550.  The price has been down by -1.1% over the past 24 hours.  The Directed Acyclic Graph (DAG) is the hashing algorithm.

IOTA tweeted:  “Wrapping up the year with good progress as a foundation and technology to enable the #MachineEconomy, we proudly present our 2019 Year in review/Year in preview from #IOTA.”

IOTA review 2019 preview 2020 

IOTA has published a year in review for 2019 and year in preview for 2020.  IOTA invited the members of the community and all who are new to the ecosystem to work with them to write the best chapters for 2020.

IOTA Bug Stoppage

There has been a 15-hour stoppage in IOTA due to a Coordinator bug. However, during the stoppage, the system continued to transfer data, and the users were able to read the transactions.

David Sonstebo, Co-founder at IOTA, stated that the bug was a minor one. On December 29, 2019, at nearly 11 a.m.  The bug was identified almost 15 hours after the stoppage.  The users were able to continue with their transactions after the bug.  The bug was related to an upgrade called Coordicide.

Bug Fix reported, “IOTA Reference Implementation “didn’t account for a transaction that was shared between two distinct bundles. Once it marked it as ‘counted’ in one bundle, it was ignored for the next bundle. This lead to a corrupt ledger state.”

Whatever the bug is, there is no reason to panic over such a minor issue pre-Coordicide; and, precisely why Coordicide takes time, one can’t execute it until all possible kinks got ironed out.

IOTA Community not happy about leadership calling Bug Minor

The IOTA community was not happy about their leadership, calling the bug issue as being minor. As opposed to using blockchain, IOTA makes use of DAG.  There are unique challenges associated when DAG is used instead of a blockchain. As opposed to staking or mining, the transactions got confirmed from two other transactions. For the deals to get validated, a centralized node is essential. The foundation controls this node.

The coordinator is the name given to the node controlled by the foundation, which is a bottleneck, and further improvement is required to avoid it.  The IOTA foundation works on removing the coordinator with a Coordicide upgrade, which got scheduled to complete in 2020.

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