IOTA – an open-source cryptocurrency and distributed ledger – recently launched its smart contract beta. Network users can now take advantage of the high-speed yet zero-fee transactions functionality that comes with the IOTA network.
Smart Contracts on IOTA
As reported on Thursday, the beta includes an Ethereum Virtual Machine (EVM), making ERC-20 tokens interoperable with the platform. Furthermore, smart contracts can now be written in solidity (Ether’s programming language) anchored in IOTA’s tangle language.
The project has also added full network sharding. This enables high-degree interoperability by wrapping smart contracts onto the base layer of nativized tokens.
Notably, all smart contracts allow their creators to set their own execution fees, allowing different chains to compete in driving them down.
Some may believe that IOTA has been late to implement smart contracts, compared to platforms such as Ethereum. However, IOTA CEO Dominik Schiener had a different perspectiv
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