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IOTA, a pioneer in Distributed Ledger Technology, has unveiled its highly anticipated Stardust Update. This update will bring a wave of groundbreaking features and improvements to its network
This significant development marks a crucial step in offering unparalleled digital independence to all users. In addition, both Binance and Bitpanda are lending their support to the Stardust protocol update as well as the IOTA network fork.
As for the key highlights of the Stardust update, the first post goes into detail. To highlight, the Stardust update has officially been launched on IOTA’s Mainnet. It is following an extensive year-long testing phase on Shimmer, demonstrating the network’s commitment to robustness and security.
Specifically, a key highlight of this update in NFT integrations. Now, IOTA will support NFTs natively on its Layer 1 Tangle, enabling feeless minting and transactions. Additionally, users are required to place a storage deposit to hold NFTs in their wallets.
Meanwhile, in terms of NFT functionality, each NFT on IOTA can own another NFT, a Digital Identity, or tokens, adding a new dimension of utility. This update will also be introducing custom tokens. That is, users can create their tokens on the Layer 1 Tangle with ease, similar to NFTs, requiring only a storage deposit.
Next, the update will bring State Commitment anchoring. This brings Layer 2 to Layer 1 Integration. In detail, IOTA can now anchor State Commitments from Layer 2 onto the Layer 1 Tangle, establishing IOTA as a foundational layer in a Multi-Layer-Environment.
More so, new output features introduce programmability to the UTXO. One of these is the Expiration Unlock Condition. Here, users can transfer funds between two wallets with an expiry date, providing enhanced control over their transactions.
All in all, by incorporating these advancements, the Stardust Update elevates IOTA’s versatility, security, and overall user experience. The network’s transformation is set to usher in a new era of innovation and decentralization.
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