IOTA launches source coordinator amid growing trading volumes
- “The Coordinator is an important part of the IOTA networks, protecting the network from adversarial parties,” IOTA blog post.
- IOTA trading volume has been on the rise over the past week and even hit $24 million.
IOTA has increased investors’ confidence after the developers launched the open source coordinator on the mainnet. The release on April 10 is a step closer to a feature that will give individuals as well as groups the ability to set up their own private networks. In addition to that, private networks will be tested and develop Proofs-of-Concept (PoCs) more easily.
The coordinator referred to as “Compass” was first mentioned a few months ago. The current version allows for more transparency while making IOTA network open source while at the same time permitting open source contributions.
According to a blog post, IOTA explained the initiative:
“The Coordinator is an important part of the IOTA networks, protecting the network from adversarial parties. We believe that using the open source version will improve all the aspects of the networks, while making the way they work more transparent for everyone.”
IOTA trading volume has been on the rise over the past week and even hit $24 million on April 14. At press time, the daily trading volume stands at $15 million. Although the market cap has fallen below $1 billion, it has managed to stay above $800 million in the last week.
Author
John Isige
FXStreet
John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren
