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The IOTA Foundation team remains committed to advancing the development of the IOTA core network, with the aim of achieving enhanced decentralization. Last month in June, the IOTA team made some key developments with Mana, Staking Rewards, and Congestion Control.

Also, the GoShimmer and Hornet teams joined hands to accelerate work on the IOTA Core. More importantly, the IOTA core node has become fully ready for processing Stardust transactions in a completely decentralized environment.

In May, the work on the IOTA core began. The team decided to transition from GoShimmer to an experimental prototype of the node protocol for the IOTA core, which is a stable version of the node software. This required porting the existing GoShimmer CodeBase to the IOTA core. To the surprise of many community members, this task was completed in about a month, and the team was able to showcase the decentralized running of Stardust VM on IF computers during the first monthly update in June.

In June, the focus was on Congestion Control, Accounts, Mana, and Staking. Congestion Control is necessary to prevent network spamming and ensure fair network access for everyone. To achieve this, IOTA introduces a secondary resource called Mana.

To use the network during congestion, users must possess and spend Mana. Mana is earned as a reward for staking your IOTA tokens and is managed through an individual Mana Account connected to your IOTA Wallet. This system is crucial for managing network congestion and has significant implications for the value of the token. Lets take a look at each of these.

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The integration of Mana and Account support primarily took place in the iota.go repository, and users can follow its progress in PR#435. This implementation introduces a new type of output called AccountOutput. It was reviewed approximately two weeks ago and has now been successfully merged into the code base. As a result, the protocol can accurately monitor the Mana balances of each wallet. The congestion control mechanism can then be activated based on the Mana balance.

Users can find the implementation of Congestion Control in the IOTA core repository under PR#130. Congestion Control serves as the control unit for the block scheduler, ensuring that only blocks with a sufficient amount of stored Mana in the account can be passed to the scheduler. The PR is currently a work in progress, with a team of research engineers and research scientists actively working on it. We anticipate that it will be merged into the code base in the upcoming week(s).

The next step is understanding how to earn or generate Mana through staking. The progress on staking can be tracked in PR #143 within the iota-core repository. With staking, users can delegate their funds to a registered validator and stake their funds. Your Mana rewards are then calculated based on the duration and amount of IOTA tokens users have staked. Once earned, users will be able to claim their Mana rewards. This PR is still a work in progress, and the team is actively working on it. It is likely to be merged into the code base simultaneously with the finalization of Congestion Control.

In addition to Mana and Congestion Control, the team is working on introducing seamless protocol updates. These updates are important for maintaining decentralization and avoiding network disruptions.

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Building the Future: IOTA-Core Update Unveils Congestion Control ... - Crypto News Flash