The IOTA network is set to undergo a revolutionary transformation with the introduction of the Stardust upgrade, which will bring tokenization and L2 smart contract chains. Users staking for Assembly tokens will be able to see their airdrops in the new version of the Firefly wallet.
In the rapidly evolving world of blockchain technology, the IOTA network is taking a significant step forward with the Stardust protocol upgrade. This upgrade, scheduled for 8 AM CEST today, will tokenize the network and enable the anchoring of L2 smart contract chains. The endorsement of influential platforms, such as Binance, further highlights the importance of this upgrade, as seen in the “IOTA Stardust Upgrade and Announcement by Binance.”
The Stardust protocol marks a significant milestone in the journey of IOTA. According to a source close to the upgrade process, the existing IOTA network will witness a fork, resulting in a nuanced duality. The main IOTA network will pivot to the Stardust protocol with an increased supply, while the IOTA Classic will retain the legacy supply while embracing the Stardust protocol. To ensure transparency, a verifiable ledger snapshot will be made public on GitHub. Node maintainers are advised to update their software to the upcoming Hornet release (version 2.0.0).
Once the network is live, the Firefly IOTA version 2.0.0 will be available. However, there is currently no official software support for the IOTA Classic endpoint.
Binance, a leading global crypto exchange, has reaffirmed its commitment to the upcoming network shifts, particularly the IOTA upgrade. While trading of the tokens will continue uninterrupted, there may be a temporary suspension of deposits and withdrawals to ensure smooth transitions. This shows the significance of the IOTA Stardust upgrade and the confidence industry leaders have in its potential.
In order to enhance user experience and community engagement, users who have staked for Assembly tokens will receive an airdrop. This airdrop will be prominently featured in the latest version of the Firefly wallet. After the culmination of the Stardust upgrade, users will have immediate access to approximately 10% of the airdropped tokens. The remaining 90% will be gradually unlocked bi-weekly over a two-year period. Importantly, users do not need to take any action to shift tokens or access the airdropped IOTA tokens.
For those interested in IOTA, there are various resources available, such as the Buy IOTA Guide, IOTA Wallet Tutorial, and the ability to check the 24-hour MIOTA price. Additionally, more IOTA news and information can be found on the platform.