COTI Network has announced that the protocol will undergo a hard fork, during which they will deploy MultiDAG 2.0 – the long-awaited update that will see the protocol transition to a multi-token layer.
According to the official release, COTI Network is to undergo a hard fork during which MultiDAG 2.0 will be deployed.
What’s cited as “the biggest leap in COTI’s history” is intended to turn the protocol into a multi-token layer instead of a single currency infrastructure.
The MultiDAG 2.0 protocol is designed to allow for branded enterprise tokens to be generated and minted on top of COTI Network’s Trustchain.
Speaking on the matter was Shahaf Bar-Geffen, CEO at COTI, who said:
CMD, the New Token Standard for COTI, represents the MultiDAG 2.0 launch and is the most significant milestone for COTI. By supporting issuance of tokens on top of our protocol, we are accomplishing our vision in becoming the enterprise layer 1. Years of hard work have culminated in this game-changing event and I can’t wait to see more enterprises using COTI’s technology.
Node operators are supposed to update their nodes by August 2nd, and the hard-fork testnet deployment of MultiDAG 2.0 will begin on this date.
The mainnet deployment is expected to happen in about a month later.