Decentralized IOTA Ledger Prepares for the Era of Innovations
Date: 2023-09-18 Author: Dima Zakharov Categories: BUSINESS, IN WORLD
IOTA 2.0 and the Future: Solutions Aimed at Strengthening IOTA's Position in the World of Decentralized Technologies
IOTA, known for its long-term commitment to innovation in blockchain technologies, has announced four significant solutions that will bolster its position in the world of decentralized distributed ledgers. The upcoming upgrade, IOTA 2.0, and the introduction of smart contracts will make this project more versatile and functional.
Following the launch of IOTA 2.0, the network will gain the capability for programming at the IOTA L1 level, thanks to the integration of general-purpose smart contracts. This substantial improvement will enable developers to create various applications and smart contracts based on IOTA. The IOTA team is doubling down on its efforts to increase the utility and economic activity within the IOTA network and the IOTA token.
IOTA has also decided to halt the development of the Assembly project and its associated ASMB token. Instead, the IOTA team will focus its efforts on IOTA Chains, which is a generalized smart contract network designed to bridge L2 blockchains with IOTA and develop L1 smart contracts. This strategic shift will enhance the efficiency and flexibility of smart contract development on the IOTA platform.
Smart Contracts and the Ecosystem Fund: Key Steps for IOTA in Building an Innovative Future
The fourth key decision by IOTA is related to network funding. The IOTA team will create an ecosystem fund that supports decentralized governance and ecosystem growth. This fund will be financed through the temporary inflation of tokens, enriching the IOTA offering.
All of these steps will make IOTA better prepared for the new era of 2.0, where decentralization and smart contracts play a pivotal role in the development of the blockchain space.
IOTA, a pioneer in the world of decentralized distributed ledgers, is raising the bar on innovation with important announcements aimed at ensuring a brighter future for IOTA 2.0. The implementation of general-purpose smart contracts and new strategic moves underscore the project's ambitions. The commitment to maximizing the utility and economic activity of the IOTA network, as well as the establishment of an ecosystem fund for further decentralization, reflects IOTA's determination to continue leading in the world of decentralized technologies.
