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IOTA Ready to Break into Smart Contracts Race, Dev Update Says

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Fri, 02/12/2021 - 14:10
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Vladislav Sopov
Close release of smart contracts alpha version is among the most remarkable milestones of IOTA's latest dev update
IOTA Ready to Break into Smart Contracts Race, Dev Update Says
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Jakub Cech, IOTA's director of engineering, has published IOTA's February 2021 development update. It covers the whole range of accomplishments of Chrysalis Phase 2 implementation.

IOTA smart contracts alpha release is around the corner

Over the last several weeks, IOTA is implementing the second phase of Chrysalis, a mechanism that paves the way to Coordicide. In turn, Coordicide is scheduled to eliminate Coordinator, IOTA's point of centralization, and activate a truly decentralized IOTA.

IOTA is almost ready to release its smart contracts alpha
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According to IOTA's latest development update, IOTA-native smart contracts are almost ready for the release of its alpha testing iteration:

The team is working on finishing up all the work necessary for releasing smart contracts alpha.

Meanwhile, Bee, the Rust-written node software for the Chrysalis update, has been released in alpha. Also, IOTA has released a new version of Hornet with activated spam protection ("Dust" protection) and reconsidered memory usage logics.

Meaningful updates are added to other IOTA workloads, IOTA Identity and Stronghold, a one-stop privacy solution. IOTA Identity is now developing from alpha to mainnet version v1.0.

Firefly wallet is ready for technical audit

Firefly, a wallet solution for MIOTA, has been presented to security auditors. Initially, white-hat hackers will experiment with the security and privacy features of the desktop version.

As covered by U.Today previously, IOTA Foundation shared numerous integration and technical progress announcements this week. For instance, it will collaborate with the Dell software mogul in Project Alvarium.

Related
IOTA and Dell Giant to Demonstrate Project Alvarium on February 24

Also, IOTA made headlines over the last few days due to the impressive pump of its native token, MIOTA. Yesterday, Feb.11, 2021, it added almost 52 percent in 11 hours only.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)