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. Nevertheless, the cryptocurrency floated to irrelevance as interest in it died down in 2018. Related Reading | By The Numbers: What $1000 In SHIB Is Worth Now A reinvention of the network by its CEO came earlier this year. With his determination, the CEO decided not to give up on the project by upgrading it by introducing a critical new upgrade. Advantages Of The New IOTA Upgrade A report reveals that the beta version inculcates an Ethereum Virtual Machine (EVM). Thus, ERC-20 tokens are now interoperable within the network. Additionally, the writing of smart contracts is now in Solidity (the programming language of Ether) attached in the tangled language of the network. Furthermore, there is added network sharding on the project. This allows high-degree operability via smart contracts wrapping to the base layer of native tokens. Remarkably, smart...