According to Coindesk, IOTA co-founder Dominik Schiener said that he plans to launch an IOTA 2.0 network in the coming months and increase the utility of MIOTA tokens.
IOTA developers said that they plan to release a new ecosystem fund and a new blockchain that will support decentralized applications with the IOTA 2.0 network, and that they expect this change to increase the value of MIOTA tokens and improve network security.
IOTA 2.0 is expected to go live in the 4th quarter of this year, and the Stardust hard fork, scheduled to be released on October 4, is expected to be the basis of IOTA 2.0.
Dominik Schiener said in his statement:
“Unless we have more financing, we will not be able to catch up and IOTA will continue to slowly lose market share and market value.
To break out of this downward spiral, we need to start making significant changes that will increase adoption and growth.
“We want IOTA to have a fighting chance to succeed in this market.”
The IOTA representative said, “As a self-sustaining system, IOTA 2.0 is the key to improving the security of the IOTA network and therefore creating more demand for applications and layer 2 networks to be built on IOTA.” said.
IOTA, which was one of the most excited and fastest growing tokens in the 2017 bull market, dropped by 3% after the news.
*This is not investment advice.