According to official news, IOTA announced the IOTA Rebased upgrade, which enables parallelization of MoveVM & EVM, achieving over 50,000 TPS. The main features are as follows:
- The improved consensus algorithm is expected to provide enhanced security and efficiency;
- The introduction of a local fee market aims to optimize network economics and user experience;
- Sponsored transactions allow application operators to provide fee-free transactions for their users;
- The gas fee calculation method has been redesigned to offer more predictable and fair transaction costs;
- An enhanced validator committee selection algorithm creates more equitable entry points and further decentralizes the network;
- Transition to a MultiVM ledger by natively supporting EVM (and possibly other VMs) on the L1 network.
In addition, the team has launched the IOTA Rebased testnet, which the community can try out immediately.