IOTA announces Rebased upgrade and launches testnet, introducing parallel MoveVM and EVM

Odaily Planet Daily News According to official sources, IOTA has announced the IOTA Rebased upgrade, which can achieve parallel MoveVM & EVM, and achieve over 50000 TPS. The main features are as follows:

• Improved Consensus Algorithm is expected to provide enhanced security and efficiency;
• Introducing the local fee market, aiming to optimize the network economy and user experience; -Sponsorship trading allows application operators to provide free transactions to their users;
• Redesigned the gas fee calculation method to provide more predictable and fair Transaction Cost;
• Enhanced validators committee selects Algorithm, which can create a fairer entry point and further decentralize the network;
• Transitioning to MultiVM categorial accounting by natively supporting EVM (and potentially other VMs) on the L1 network. In addition, the team has also launched the IOTA Rebased test network, which the community can try out immediately.