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- The IOTA Foundation (IF) showcased the latest blueprint for the standardization of Tangle under the administration of IOTA RFC Protocol
- Following the submission of the protocol’s specifications, the feedback to the IOTA Foundation was excellent
- The foundation emphasized that they also plan to associate with cross-industry initiatives
After its quarterly conference with the Object Management Group (OMG), the IOTA Foundation (IF) showcased the latest blueprint for the standardization of Tangle under the administration of the IOTA RFC Protocol. The draft highlighted that the advancement of the IOTA protocol’s standardization is entirely on track.
IOTA and OMG’s collective journey towards standardization
OMG has been reviewing IOTA RFC Protocol, an entity based on IOTA 2.0 or Coordicide. Following the submission of the protocol’s specifications, the feedback to the IOTA Foundation was excellent. The review stood firm on three relevant points: formatting, language, and formal description. This determines the idea that the specifications are well-structured.
The IOTA Foundation expressed that this incorporates instances like using pseudocode to convey what a standard-conferment application probably does and how we identify the particular data structures and content.
The aim of the IOTA 2.0 initiative
With a provisional delivery date planned around the latter half of 2021, once IOTA 2.0 gets deployed, this initiative aims to establish IOTA Tangle with the image of being the standard protocol allocated for the Internet of Things (IoT). The IF is in touch with various standardization entities like the IIC, Institute of Electrical and Electronics Engineers (IEEE), and W3C.
The foundation emphasized that they also plan to associate with cross-industry initiatives like TangleEE and the Trust over IP Foundation. In this process, we aim to make the path to interoperability convenient and provide fresh business opportunities and social perks, based on the knowledgeable self-interest of holding the profile as a standards-setter.
Apart from the IOTA Tangle’s planned standardization, the IF is consistently trying to execute the standardization of IOTA Streams. In the future, such proposals are likely to work out for IOTA Identity along with the IOTA Smart Contract Protocol (ISP). Future RFIs can balance oracles and various other features of the DLT ecosystem to fulfill the end-user aim of greater interoperability.
Every RFI represents a chance to influence and constitute the next segment of RFPs that will come through. The RFI for the ISCP is likely to be showcased at the June meeting. There, the IF will define some distinctive characteristics of smart contracts on this network and its interoperability goals.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
