Odaily News According to official news, IOTA announced the IOTA Rebased upgrade, which can parallelize MoveVM & EVM and reach over 50,000 TPS. The main features are as follows: - The improved consensus algorithm is expected to provide enhanced security and efficiency; - The introduction of a local fee market aims to optimize network economics and user experience; - Sponsored transactions enable application operators to provide fee-free transactions to their users; - The gas fee calculation method has been redesigned to provide more predictable and fair transaction costs; - The enhanced validator committee selection algorithm creates a fairer entry point and further decentralizes the network; - Transition to MultiVM ledgers by natively supporting EVM (and possibly other VMs) on the L1 network. In addition, the team has launched the IOTA Rebased testnet, which the community can try out immediately.