December 5, 2021

Iota releases Smart Contracts Protocol alpha ahead of Coordicide rollout

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The Iota protocol (MIOTA) is continuing its pivot toward implementing smart contracts with an alpha release of IOTA Smart Contracts Protocol, or ISCP.

As announced on Thursday, the project has released a more stable iteration of its smart contracts platform, which was previously in the pre-alpha stage. The new version signals a higher readiness of the technology, allowing developers to compile and test smart contracts for the first time. The smart contracts are based on Rust and the WebAssembly framework, putting it in a similar development environment as some of the more recent smart contract platforms like Polkadot and Near Protocol.

The overall architecture of the ISCP is also somewhat similar to existing sharding-based projects. The smart contract-enabled chains would act as layer-two environments, validated by Iota’s Tangle, a ledger based on a Directed Acyclic Graph. The validators do not need to verify all chains at once, as the creators of the smart contract chain will directly choose the mechanism for assigning validators. This allows creating both open networks and permissioned enterprise chains, which is a major focus of the Iota project.

The Iota teamTitle: Iota releases Smart Contracts Protocol alpha ahead of Coordicide rollout
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Published Date: Thu, 04 Mar 2021 13:00:29 +0000