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IOTA introduces smart contract and EVM

Excellent new ones that come from the universe of IOTA Miota, a project that a few years ago was born with the world of IoT and that it is now doing all it can to establish itself as the protocol of the decentralized finance.

Less than 24 hours ago the group controlling the protocol, the IOTA Foundation – launched a test in beta which allows interoperability with the Ethereum Virtual Machine, thus adding compatibility with the ERC 20 standard. With a surprise regarding the execution of the smart contract.

Revolution in the IOTA house – our analysis

A news that has brought IOTA to good earnings, which were almost double digits before the correction of the whole market in the last hours. We can invest in IOTA with the eToro platformgo here to get a free virtual account to test all the unique features – intermediary offering CopyTrader to copy i best crypto investors of the world – or to spy on them.

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Zero commission smart contracts? IOTA aims to conquer the DeFi sector

Between Sharding and compatibility with the Ethereum you can easily guess what the trajectory of IOTA for the foreseeable future. An assault on the world of decentralized finance, today dominated by $ ETH, with some shy competitors starting to appear on the market.

IOTA wants to be in the game, and taking advantage of its sharding first, then the bridge to the EVM would offer developers a framework to develop smart contract with very fast execution and with absolute freedom to set the fee for the execution of their contracts – an issue that should quickly bring down the commissions to be paid on the network.

The network of IOTA is historically – if this update were to go through on the mainnet – the first network which will allow the execution of smart contract to zero fee – a potentially huge revolution for the world of decentralized finance – which takes on even more important dimensions thanks tointeroperability achieved with Ethereum.

The implications for IOTA and the future of its protocol

This umpteenth update of the IOTA signals the definitive passage of a network created with specific and precise objectives to a more generalist vision and in terms of infrastructure on which to build the world of the future.

Of course, IoT will remain one of the focuses of the protocol – but with this further integration the transformation into standard blockchain it would seem to be, once and for all, final. There is still no ok for the transition to mainnet, given that the test phase has opened a little more than 24 hours. It will take some time – even if everything suggests that there will be no hiccups in the transition to the next version of the network.

All this while the CEO of the IOTA Foundation it reminds us how in reality IOTA has already been central in the connection between companies, governments and the world of blockchain for some time.

We believe that the vast collaboration we have with governments, institutional bodies and even start-ups derives precisely from the fact that IOTA has no commissions. Fees are an important weight – particularly when they are volatile – on business models. And they are the opposite of an economic flywheel.

All this while Ethereum, we remind our readers, is moving precisely in this direction. That is, passing from PoW to PoS precisely to lower the commissions (now quite high) required to register transactions on its network.

Kim Lee

Kim is a Chinese girl and has studied in England. Kim loves playing video games, she likes Fortnite games. Kim likes Hollywood movies. Kim's English is very good, so she became a writer. Email : kim@d1softballnews.com

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