IOTA Changes Priorities Again

IOTA (MIOTA) co-founder David Sønstebø announced that IOTA will no longer allocate resources for the Qubic project, but rather focus on Tangle, smart contracts and the wider adoption of IOTA technology. Explaining the position of the IOTA Foundation, Sønstebø noted:

«IOTA Foundation has no plans to continue developing Qubic, no. If it happens that someone picks up on the work we have done and deliver, we will certainly look into collaborating, but at the moment it’s not a priority».

As for Qubic, proof of concept (PoC) and the Qubic repository on GitHub will be made open-source. This will allow everyone to continue working on the project.

Note that the year for IOTA began with some difficulties. At the beginning of the year, an internal dispute arose between Sønstebø and co-founder Sergei IVANCHEGLO. In addition to allegations of a 25 mln tokens theft, the failure of the JINN project has become one of the main causes of disagreement. In February, users reportedly lost about $2.2 million due to the bug in the Trinity Wallet project. Later, IOTA developers fixed the bug and promised to pay compensation to the victims from cryptocurrencies holdings.

Image courtesy of Coin Codex