IOTA Market Update: Pollen v0.2.2 records over 10,000 TPS, IOT/USD falls below $0.30
- IOTA Pollen minor version 0.2.2 has come with several improvements.
- IOTA noted that the new Pollen version achieved over 10,000 transactions per second.
- Pollen v0.2.1 handled only up to 1,500 TPS.
As per a recent tweet by IOTA, the new Pollen minor version 0.2.2 comes with several improvements. After a synchronization process test, the firm found that the new Pollen version achieved over 10,000 transactions per second (TPS).
The new #Pollen v0.2.2 has major improvements in the solidification process. With just these improvements in the synchronization process, we registered TPS of over 10k, more than 6X faster than Pollen v0.2.1. Stay tuned for future updates! https://t.co/eEb5YY7rdg#IOTA pic.twitter.com/hDwwcM9dmE
— IOTA (@iotatoken) July 28, 2020
According to an earlier BTCManager report, the Pollen v0.2.1 handled up to 1,500 TPS, which was a significant improvement compared to the previous mainnet. According to a blog post published recently, the latest upgrade has improvements in different areas. Message and transaction validation saw an update that includes signature validation before issuance. The maximum transaction input has also been changed in the new upgrade.
In addition to Pollen, IOTA’s Chrysalis also witnessed a peak performance in TPS. According to Dominik Schiener, IOTA co-founder, Chrysalis crossed the 1,000 TPS milestone. Schiener also noted that transactions within the network took 10 seconds to be verified.
IOT/USD daily chart
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IOT/USD bears have stayed in control for the second straight day, having already taken the price down from $0.301 to $0.2971 in the early hours of Saturday. The MACD shows sustained bullish momentum. The RSI, which was hovering at the edge of the overbought zone, has dipped down.
IOT/USD has one strong resistance level at $0.305. On the downside, we have four healthy support levels at $0.279, $0.2665 (SMA 20), $0.255 and $0.244 (SMA 50).
Key levels
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
