The post IOTA Nears Mainnet Smart Contracts Release, Paving Path for Potential ATH in 2024 appeared on BitcoinEthereumNews.com.

IOTA is set to launch smart contracts on its Layer 1 network this year, with the transition from testnet to the mainnet expected to be swift. This would enable the L1 network to anchor decentralized applications and support tokenization, which founder Dominik Schiener says is the network’s key target market. IOTA has been working towards being an all-encompassing network that can anchor decentralized applications, NFTs, tokenization, decentralized exchanges, and every other blockchain application. While most of these developments have been on the Shimmer staging network, the IOTA Layer 1 could catch up before the end of the year, starting with the debut of smart contracts. According to discussions from the IOTA’s developers forum, the smart contracts could launch later this year. As noted by one community member on X, they would initially launch in a testnet environment but quickly transition to the main network. Known as IOTA Academy, he noted: If this is true and major RWA (real-worl assets) liquidity starts flowing in, we might easily approach IOTA‘s ATH next year. 👀 Smart contracts on a decentralized L1 #IOTA network by end of this year with a quick transition from test net to main net sounds extremely bullish! If this will be true and major RWA liquidity starts flowing in, we might easily approach $IOTA‘s ATH next year… ✌️ pic.twitter.com/6CcCJi7GuV — IOTA Academy 📚 (@academy_iota) October 27, 2024 According to the quoted forum conversation, IOTA developers have been working in private repos on big tech upgrades, but they are bound by non-disclosure agreements against speaking out about these developments. It also claims that the smart contracts upgrade might include the introduction of MoveVM, a virtual machine designed to run smart contracts written in the Move programming language. MoveVM enhances flexibility and security while also promoting speed through parallel transaction processing;…

---

Filed under: News - @ October 28, 2024 10:16 pm