The IOTA network has been down for approximately 11 days and the IOTA Foundation doesn’t expect the mainnet to be reactivated until March 2. On February 14, our newsdesk reported on the beginnings of the IOTA outage, when the network status page indicated that it was down. The page still warns IOTA’s mainnet is “not operational” and there’s a number of updates from the developers about the alleged Trinity wallet exploit.
IOTA Mainnet Halted for 11 Days Thanks to the Coordinator Node
The 22nd largest blockchain by market capitalization IOTA has run into trouble during the last week and a half, as the project’s mainnet has been down for 11 consecutive days. IOTA has received some attention over the years, as the distributed ledger technology called “tangle” was said to be more efficient than a blockchain. Additionally, the community has claimed that the IOTA data structure will help bolster or even power the coveted internet of things (IoT) in the future.
Bitcoiners first heard about IOTA in 2015 when the project was introduced by David Sonstebo, Sergey Ivancheglo, Dominik Schiener, and Dr. Serguei Popov. There is a liquid supply of 2,779,530,283 IOTAs and the currency’s market valuation today is around $736 million. IOTA was first listed on a major exchange in June 2017 and the currency climbed to its all-time high (ATH) that year at $5.69 per token. Read More...