IOTA Introduces New Smart Contracts To Circumvent The Network Flaws
The use of smart contracts remains the key turnaround factor with the cryptocurrency space. Smart contracts brought about the decentralization of digital assets and eliminated third-party interferences in crypto transactions. Distributed ledger and open-source cryptocurrency, IOTA, has just launched a new smart contract beta. This latest move offers its users a platform for getting high-speed and zero-fee transactions. IOTA emerged within the 2017 ICO boom. The digital asset came to support the Internet of Things that harmonizes physical items into the internet and digital world.....
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The ledger IOTA aims to become “a fully decentralized, feeless multi-asset ledger” by launching Assembly in 2022, a governance layer one for permissionless smart contracts, along with the native token ASMB that will open the doors for the network’s main stakeholders, who would be democratizing Assembly. IOTA’s founders say the ledger is a “public permission-less backbone for the Internet of Things that enables interoperability between multiple devices.” It aims to provide decentralized transactions accessible for everyone, without the need for miners or blocks, offering....
IOTA was selected as one of the projects that will take part in the European Union Blockchain Pre-Commercial Procurement. The platform will be competing with four projects in a second round for this EU program for a chance at improving the European Blockchain Services Infrastructure (EBSI). Related Reading | IOTA Smart Contracts Enter Beta Phase To Circumvent Network Flaws Announced by the IOTA Foundation (IF), the network has reached stage two out of three after it was selected from around 35 applicants. This second phase will last around six months, per the announcement, and will....
Developers can now try out the upcoming WebAssembly smart contract platform. The Iota protocol (MIOTA) is continuing its pivot toward implementing smart contracts with an alpha release of IOTA Smart Contracts Protocol, or ISCP.As announced on Thursday, the project has released a more stable iteration of its smart contracts platform, which was previously in the pre-alpha stage. The new version signals a higher readiness of the technology, allowing developers to compile and test smart contracts for the first time. The smart contracts are based on Rust and the WebAssembly framework, putting....
The platform will enable developers to set individual parameters for execution fees, a feature expected to suppress the fee prices to near-zero. The Iota Foundation has announced the release of its beta version smart contract functionality, with the objective to solve market challenges of scalability limitations and high transaction fees, as well as reportedly debuting components not witnessed thus far in the space.Iota’s nonprofit foundation is focused on open-source research and development initiatives to drive adoption in the distributed ledger technology space, alongside its native....
The staging network, titled Shimmer, will ensure all upcoming Iota upgrades are community-approved before roll-out, one of the critical components of a decentralized governance system. The Iota Foundation has announced the upcoming launch of a staging network, Shimmer, in a bid to advance through the Iota roadmap toward fully functional decentralization.The layer-one network will act as an innovation testbed for developers and builders in the community seeking to evaluate decentralized finance (DeFi) and nonfungible token (NFT) applications. This sandbox model allows applications to....