Thread by @COIN360com

$MIOTA has been one of the best performers in the @COIN360com top 100 list with a 9.2%% daily gain and 21% weekly gain.

What powered such a price surge in a bleeding market? #IOTA 2.0 with @shimmernet, #Stardust, and more @iota developments.

A 🧵 👇

0/

1/ What is @iota?

A distributed ledger built for the "Internet of Everything" for exchanging value and data between humans and machines.

It uses Tangle, a structure where newer txs verify the older ones, for parallel validation of txs without requiring total ordering.

2/ It offers a network that is:

- Secure: the whole system is distributed across many network participants -> no single point of failure or attack

- Feeless: no txs fees charged, but $MIOTA holders can secure prioritized txs if the network reaches capacity limits

3/
- Lightweight: low requirements, small single-board computers and edge devices can be used to run the protocol

- Frictionless: no txs fees -> data-related functions are more accessible

- Scalable: Nakamoto Consensus + DAG, parallel processing allows up to 1,000 tps

4/
- Permissionless & leaderless: no 3rd/centralized party to validate txs. Consensus doesn't rely on selected network participants

- Flexible: enable public & private Tangle -> can be used as a public ledger (permissionless) or a private ledger (permissioned)

- Open source

5/ The following tweets will take a brief overview and development status of:

1⃣ @iota 2.0
2⃣ @shimmernet
3⃣ #Stardust
4⃣ $MIOTA metrics

6/ 1⃣ #IOTA 2.0

@iota is upgrading its IOTA 1.5 Chrysalis to IOTA 2.0 Coordicide for a fully decentralized, feeless and highly scalable distributed ledger technology.

The removal of Coordinator, a centralized node run by the IOTA Foundation, can help boost decentralization.

7/ In his thread, @cyrilXBT added a graphic from the core team that illustrates how the #IOTA 2.0 is set to work:

https://twitter.com/cyrilXBT/status/1571961080498331651

According to the @iota roadmap, IOTA 2.0 devnet has gone live. More detailed updates in their blog post: blog.iota.org/iota-2-0-detai…

8/ 2⃣ @shimmernet

An #L1 incentivized staging network for the @IOTA mainnet.

It's a DAG-based parallelized settlement layer with higher #L2 anchoring capacity than standard blockchains

9/ How can it help build #IOTA 2.0?

- Features will be added on Shimmer for testing before going live on mainnet

- Iterate & deploy quickly -> Speed up the development process as new changes are made & tested

Key differences? 👇

10/ What will it offer?

1⃣ Native Tokens: custom tokens can be minted & transferred feelessly

2⃣ Feeless #NFTs: no creating/trading fees

3⃣ Output Types

4⃣ Build Your Own: builders' ability to develop EVM-based dApps with the tools and concepts they're used to

11/ #Shimmer Network will officially launch on Sept 28, which means that #IOTA token stakers can claim their Shimmer staking rewards on @fireflywallet app.

Besides $SMR, one key point that excites the community about the Shimmer mainnet launch is #Stardust.

12/ 3⃣ #Stardust

A comprehensive utility upgrade of the IOTA Chrysalis protocol. Why use it?

- Make @iota a multi-asset ledger
- Enable the operation of #IOTA Smart Contracts

-> Program digital 💸 with any business logic via smart contract chains
-> Print unique digital 💸

13/ Stardust upcoming release on @shimmernet will bring:

- #L1 native tokens and #NFTsales
- Smart contract chain anchoring
- Storage deposits
- Improved microtransactions
- And more to the ecosystem

14/ 4⃣ $MIOTA

As per @COIN360com data, #IOTA token changes:

- 9.2% in 24h
- 21% in 7 days
- 9.5% in 30 days

$MIOTA was born with no locked tokens, no early corporate investors, and no tokens for founders to utilize fair distribution.

15/ How did $MIOTA get a strong upside narrative?

The network needs it to:

- Back all data stored on the Tangle -> deposit $MIOTA to store data on #L1 -> dust protection

- Create "Mana" to get a fair share of the Tangle throughput

- Stake for pre-launch rewards

16/ @iota gives $SMR and $ASMB rewards to users who choose to stake $MIOTA.

For every 1 #MIOTA staked in @fireflywallet, users get 0,000004 $ASMB every 10 secs.

Meanwhile, all eyes are on #SMR.

Shimmer Genesis supply: 1,813,620,509 $SMR
Distribution to IOTA stakers: 80%

17/ This was the result of a community vote, which was highlighted in the following blog post: blog.iota.org/shimmer-ecosys…

@SpecWeekly also made a video for further thesis:

https://twitter.com/SpecWeekly/status/1573202002632376320

18/ What's next for @iota?

They'll have these releases after all the stages in the pic below are reached:

- Seamless protocol upgrades
- ShimmerEVM Chain
- Stardust on IOTA

Plus more real-world expansions & Touchpoint Open Builders Program updates:

https://twitter.com/Dell_Edge/status/1533949500393508864

19/ Want to know more/ We've got some useful links for you:

1⃣ $MIOTA price action: coin360.com/coin/miota-iota

2⃣ All about @iota tech: wiki.iota.org

3⃣ Explorer: explorer.iota.org/mainnet

4⃣ @SpecWeekly on the #IOTA staking and $SMR analysis:

20/
5⃣ @cyrilXBT and his threads on:
- Iota 2.0:

https://twitter.com/cyrilXBT/status/1571961020502999040

- Shimmer:

https://twitter.com/cyrilXBT/status/1572282649846353921

- Firefly wallet:

https://twitter.com/cyrilXBT/status/1573975392657997824

6⃣ Dust protection deep-dive: medium.com/@wernerdercham…

7⃣ @cryptochefs_io on IOTA overview:

https://twitter.com/cryptochefs_io/status/1574341198084464640

20/
8⃣ Who to follow?

@shimmernet
@fireflywallet
@assembly_net
@iota_dev
@cyrilXBT
@DomSchiener
@DigidusPrime
@IotaBullrun2020
@PhyloIota

To name just a few active CTs in the ecosystem.

20/ That's a wrap!

A big thank you to all the teams/people mentioned in this thread for your data and insights.

We tried to make it as short and clear as possible. If you think there's something that needs to be added, please spread the word!

Together we learn 🫡

#DeFi #IOTA

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