Express

Iota Set To Relaunch Network In One Week

Ramsey Baker

Summary: Iota (MIOTA) started its seed migration period on Feb. 29 and plans to reopen their network around March 10. Despite the criticism the company faced for the decision to close the Coordinator, it may have possibly saved many users’ funds from being stolen. Iota shut the network off on Feb. 12, after the team received ...

Iota (MIOTA) started its seed migration period on Feb. 29 and plans to reopen their network around March 10. Despite the criticism the company faced for the decision to close the Coordinator, it may have possibly saved many users’ funds from being stolen.

Iota shut the network off on Feb. 12, after the team received reports of drained user wallets. This was only made possible by the presence of the Coordinator, a centralized transaction verifier that is necessary to operate the network. This shutdown prevented the attacker from draining any more user wallets and gave the team time to investigate.

By Ramsey Baker

Last Update:

Tags: ,,,
Link: Iota Set To Relaunch Network In One Week   [Copy]
  • From Data Rights to Digital Property: Whistleblower Brittany Kaiser on Blockchain, RWA,... 5 days ago
  • The Base Chain's Ascent: How Deep Coinbase Integration and JPMorgan's Pilot Are Reshapi... 11 days ago
  • Tether in Trouble? U.S. Senate Just Passed a Law That Could Dethrone the $155B Stableco... 14 days ago
  • Justin Sun's Nasdaq Gamble: How Six Years Forged Ties with the Trump Family 15 days ago
  • The Crypto IPO Wave: From Fringe to Front Page 18 days ago
  • You need to login to comment.