IOTA Released Alpha Version For Smart Contracts


The IOTA Foundation has released the Alpha version it developed for the smart contract protocol. With the incoming update, IOTA developers will be able to write a smart contract and start experimenting within the network.

The IOTA Foundation aims to compete with platforms such as Ethereum and Polkadot with its Smart Contracts Protocol (ISCP). In the announcement published today, it was stated that the Alpha leg, one of the critical stages of this process, is ready.

Everything is ready to test

Blockchain developers can start writing IOTA-based smart contracts thanks to the Alpha release. Decentralized applications (dApp) can be tested with these contracts.

According to the statement made by the IOTA Foundation, developers will have the opportunity to test some of the tools (such as the ‘Solo’ tool) that will be included in the ISCP in this version. In order to bring the IOTA and Ethereum ecosystems together, trials can be made with the Ethereum Virtual Machine.

The ‘opportunity’ to open up to the decentralized world

Alpha version; It will lay the foundation for atomic swaps with external blockchains such as Ethereum. The work to be done in the test environment is likely to bring the IOTA network closer to the decentralized finance world. The statement made by the IOTA Foundation is as follows:

“It; It’s a great opportunity to see what IOTA-based digital assets, decentralized exchanges (AMM), NFT marketplaces, liquidity platforms and smart contracts will look like.

The IOTA team will be working on the development of the Coordicide protocol and Chrysalis update over the next few weeks. Studies on the use of smart contracts will also take place.


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