IOTA Foundation Enters Base Layer Race With '2.0' Testnet

IOTA's new testnet addresses the technical feature that nuked the blockchain-like network for nearly two weeks earlier this year.

AccessTimeIconJul 1, 2020 at 5:52 p.m. UTC
Updated Apr 10, 2024 at 2:17 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

IOTA is addressing the technical feature that nuked the blockchain-like network for nearly two weeks earlier this year.

  • The IOTA Foundation announced Wednesday it is doing away with the “coordinator” that previously validated the blockchain’s transactions.
  • The new “coordinator-less” network, billed as IOTA 2.0, is meant to rival other smart-contract platforms such as Ethereum, EOS, Tron and Cardano.
  • IOTA’s MIOTA token currently ranks as the 24th largest cryptocurrency by market cap, according to CoinGecko data, besting zcash (ZEC), cosmos (ATOM) and basic attention token (BAT), among others.
  • IOTA’s new “Pollen” testnet will serve as a research testbed for a new “fast probabilistic consensus” mechanism.
  • The IOTA Foundation claims the new network will support decentralized applications (dapps) and smart contracts that can transact without incurring fees.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.