IOTA publishes the beta version of the smart contract function
(Image: Tobias Arhelger / shutterstock)
IOTA could now compete with Ethereum and Co. As the IOTA Foundation announced, the smart contract function is now starting in the beta version. With this, IOTA would like to do better than the competition.
Like the IOTA foundation in one Blog entry on the official website declared is Beta version of programmable smart contracts now available in IOTA 2.0 DevNet. With this, IOTA is also launching an attack on the now much more popular project such as Ethereum (ETH). Ethereum has been offering the option of creating smart contracts on the blockchain for years.
However, Ethereum struggles with scalability. This is also one of the reasons for upgrading to ETH 2.0. With this, Ethereum wants to become more environmentally friendly and at the same time reduce the sharply increasing fees. Smart contracts and NFT are currently still associated with very high fees, but the Ethereum network is the market leader in this sector.
While Ethereum is struggling with scaling problems, fees are not planned for IOTA. Instead, the transaction fees can be set by the user. This creates a very flexible pricing structure at Iota.
IOTA also seems to be ahead of the competition from ETH when it comes to scalability. IOTA already enables the use of a multi-chain network. This means that several blockchains can run at the same time.
At least this message did not yet have a major impact on the IOTA course. IOTA has always quoted between 1.25 and 1.32 US dollars in the past 24 hours. With a market capitalization of around $ 3.5 billion, IOTA is among the 50 most valuable cryptocurrencies in the world. During the big rally 2017/2018, IOTA was still one of the most promising projects and reached the previous all-time high of $ 5.69 on December 19, 2017. This makes IOTA one of the few projects among the top 100 that has not yet set a new record this year.
In 2017, the cryptocurrency from Berlin caused a sensation when, among other things, a partnership with Bosch was announced. After the reputation of the project had declined in recent years, this could go in a different direction with the smart contracts.
