Source : Crypto News focus youtube channel
- IOTA has launched its Rebased mainnet upgrade, transitioning from the Stardust network through a Genesis Ceremony involving 12 validators.
- While token holders don’t need to migrate assets, users must import existing credentials into a new browser-based wallet to access their funds.
IOTA has officially launched its much-anticipated Rebased mainnet upgrade, marking a major evolution in its blockchain infrastructure. The new mainnet went live today, May 5, 2025, at 9:00 AM Central European Summer Time (CEST), according to an official blog post by the IOTA Foundation.
A New Era Begins with the Genesis Ceremony
The transition from the previous Stardust mainnet to the new IOTA network was initiated through a coordinated Genesis Ceremony. This event involved the IOTA Foundation and 12 initial validators, including key players such as DLT Green, P2P, Luganodes, KILN, and Stakin. The process included shutting down the old network, generating ledger snapshots, verifying data integrity, and launching the new genesis block.
This upgrade introduces enhanced scalability and functionality but does not require users to migrate their tokens. All assets remain secure during the process.
Wallet Changes: What Users Need to Know
While token migration isn’t necessary, users must take action to access their assets on the upgraded network. The previously used Firefly desktop wallet is no longer supported. Instead, IOTA is introducing a browser extension wallet as the new standard.
To access funds, users need to import their existing private key, mnemonic phrase, or Stronghold backup from either Firefly or Bloom wallets into the new browser-based wallet. Those using Ledger hardware wallets must install the latest version of the IOTA Ledger app, which supports the new network.
Temporary Exchange Interruptions and EVM Downtime
During the mainnet transition, most exchanges supporting IOTA temporarily suspended deposits and withdrawals. These services are expected to resume shortly once the upgrade is stabilized. Additionally, the IOTA Ethereum Virtual Machine (EVM) is scheduled to be back online within 4 to 8 hours post-launch.
This upgrade marks a critical milestone in IOTA’s long-term vision, enhancing the network’s reliability and usability for future development and adoption.
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