Crypto

The IOTA Network Will Come Back Online Next Week

When the IOTA network was shut down due to an exploit, many expected the situation to return to normal soon. That is not the case, as the network is still offline today.

Shutting down any financial system for over two weeks on end is unacceptable.

IOTA Network Will Resume in 7 Days

In the case of IOTA, temporarily halting the network was the smart decision.

Hacking attempts had indicated how the Trinity wallet posed  a potential security risk.

That was well over two weeks ago, with no real improvement in sight.

More specifically, the IOTA network remains offline for value transactions until further notice.

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This is part of the reason why the MIOTA price isn’t collapsing compared to other markets, as no one can move funds over the network.

The developers have made some progress regarding the Seed migration tool for Trinity users, however.

Launching this tool will help potentially affected users move to a safer solution and keep their funds safe.

There is also an update as to when the IOTA Coordinator will come back online.

Another seven days are required, as this is the period agreed upon by developers for Trinity users to migrate their tokens.

Once the network comes back online, there will undoubtedly be some volatile MIOTA price action.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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