Of late, MIOTA has been recognized for their exercises. The month of May was loaded with occasions and MIOTA stated that June has significantly more to offer. In the period of June, MIOTA will run a couple of real battles and activities, for example, refreshing more data of Trinity wallet, the updates of Qubic venture, IXI Hub discharge, the first round of environment grantees and a far-reaching AMA with the IOTA Foundation.
The team at IOTA is constantly working on improving the IOTA reference implementation [IRI] and moving it closer to the IOTA white paper. This requires a lot of planning, research, development, and testing of any changes that they make. The IRI team at IOTA has been hard at work to improve the current tip selection algorithm. Additionally, today, they introduced a complete rewrite of the tip selection algorithm that is part of IRI version 1.5.0.
Today, IOTA tweeted:
“The IRI team at IOTA has been hard at work to improve the current tip selection algorithm. We are happy to introduce a complete rewrite of the tip selection algorithm in IRI version 1.5.0. Available now https://blog.iota.org/new-tip-selection-algorithm-in-iri-1-5-0-61294c1df6f1 …
Hulky, a Twitter user commented:
“I think he meant technical progress, not the price wise.”
The changes made in the new update is as follows:
- Cumulative Weights
- Fixed SubGraphs
- Ignoring invalid Transactions
- New transition function
IOTA also has worked on improving the readability and testability of the code. This will make maintaining the code and improvements in IRI simpler for the team.
Talking at Computex in Taipei, Asia’s largest trade show, Edward Greve, the Head Engineer at IOTA, outlines the concept of IOTA and how it will address the problems that blockchain poses, using its Tangle. Tangle MAM promises integrity, security, and privacy, and IOTA Token Flash Channels will be zero fees, real-time, and ‘machine ready’.
Edward Greve, the Head Engineer at IOTA said:
“Data is the new oil”
Maybe the oil is facing its recession now, as observed IOTA fell from its rank at #9 to #10 on CoinMarketCap earlier this week. Irrespective of the fall IOTA got back up to its position.
At the time of writing, MIOTA is traded at the price of $1.11 with a market of $3.09 billion. The coin has seen a fall of 4.35% in the past 24 hours and its weekly cap runs red with 11.70% degrade.
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