IOTA announced the start of beta testing of smart contracts

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IOTA developers announced the launch of beta testing of smart contract capabilities. They now support the Ethereum virtual machine and Solidity smart contracts.

IOTA offers users programmable smart contracts in the IOTA 2.0 DevNet. In addition, support has been announced for the Ethereum virtual machine (EVM) and smart contracts written in Solidity, Go (TinyGo) and Rust. The team is currently working on extended EVM support.

IOTA Foundation Co-Founder Dominik Schiener said:

“IOTA smart contracts will allow the transfer of assets along the chains without commission. This is to increase the usefulness and scalability of the IOTA ecosystem. “

IOTA, a not-for-profit foundation, is engaged in the research and development of open source projects to accelerate the adoption of distributed ledger technology and its proprietary Tangle platform. Shiner sees IOTA smart contracts as unique in that they offer low and transparent fees that only depend on the chain creator.

This spring, IOTA developers launched the stable version of the IOTA Smart Contracts Protocol (ISCP) smart contract platform. The alpha version of the platform is built in Rust and the WebAssembly framework, which puts it in a development environment similar to some of the more recent smart contract platforms such as Polkadot and Near Protocol.

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