Iota has announced the release of decentralized layer-one smart contract network Assembly, and accompanying ASMB token, in a bid to accelerate the expansion of smart contracts across a multitude of sectors, including decentralized finance (DeFi) and nonfungible tokens (NFTs). Assembly utilizes the Iota network's existing architecture, most notably the directed acyclic graph structure, to operate adjacently as an interoperable, self-sovereign bridge that reaps the benefits of scalability and robust security, among others. Decentralized application, or DApp, developers have the ability to create their own smart contract chains and set individual parameters for low-cost execution fees, a function that also enables …

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 platform, the Tangle. The smart contract service will foster interoperability and standardization through the integration of Ethereum Virtual Machine; multi-capacity for developers to write program languages with Tiny Go, Rust, and Ethereum’s Solidity; as well as …

The roadmap to Iota 2.0 has reached another milestone as the Iota Foundation launches the Nectar DevNet. In a blog post published on Wednesday, the Iota developer announced the news of the Nectar DevNet launch, which forms an essential part of the preparatory work for the release of Iota 2.0 slated for late 2021. The Nectar DevNet follows on the heels of the Chrysalis upgrade and is an expansion of the Pollen Testnet released back in June 2020. The Iota 2.0 DevNet sets the stage for the transition to a feeless, permissionless and fully decentralized Tangle network. According to the …

Iota (MIOTA) began its seed migration period on Feb. 29, with plans to reopen the network around March 10. Though some have criticized the decision to close the Coordinator, it may have saved many users’ funds from being stolen. Potential Moonpay compromise The Iota network was shut off on Feb. 12, shortly after the team received multiple reports of drained user wallets. This was possible thanks to the presence of the Coordinator, a centralized transaction verifier that is required to operate the network. Shutting down the Coordinator stopped the attacker from draining any more user wallets, giving the team time …

The IOTA project unveiled on Feb. 3 a series of upgrades dubbed Chrysalis, an intermediate stage between now and the removal of the Coordinator. The upgrade introduces several important features, some of which change long-standing IOTA principles. Chrysalis, or IOTA 1.5, takes its name from the second stage in a caterpillar’s metamorphosis into a butterfly. It is specifically designed as an intermediate step before the “Coordicide,” a long-planned initiative to remove the Coordinator from the IOTA network. The Coordinator is, in essence, a centralized server managed by IOTA developers that creates checkpoints in its transaction history. This is a necessity …