IOTA will become decentralized

IOTA has reportedly developed a plan to decentralize its network by eliminating the coordination node. This part of the IOTA Tangle is currently responsible for ordering transactions, but it poses a number of problems. IOTA has already started the process and intends to remove this node from the network next year.

The IOTA Coordinating Node was originally created to order transactions on the IOTA Tangle. This feature prevented attackers from dominating the IOTA hash rate and protected against most attacks.

Unlike Bitcoin, IOTA is not mineable. However, the platform still requires its users to perform a small amount of hashing, which theoretically makes attacks on its network possible. The coordinator node currently provides protection against such attacks, but it also involves significant centralization.

This means that quite a lot of power is concentrated in the coordination node. For example, the node ensures transaction priority and allows funds to be frozen. 

The coordinator node also introduces a single point of failure: if a node were to fail or come under attack, the entire IOTA network would cease to function.

These problems have led to complaints from members of the IOTA community, who have criticized the level of centralization of the platform. In November, the IOTA team began working on a solution to this problem and is now ready to present a solution. 

Decentralization is a fundamental value of many proponents of cryptocurrencies and blockchain technology. Now, finally, the removal of the IOTA coordinator node will bring a degree of decentralization that many members of the crypto community have been waiting for.