Connect with us

Crypto

IOTA Network Announces New Smart Contract “Assembly”

Assembly will launch in 2022 and will have its own token ASMB. The token will initially be distributed to existing MIOTA holders via an airdrop that will begin “shortly.” The new smart contracts network will offer a range of capabilities. The announcement states that it “will come with fixed fees of $0 thanks to the flexibility to set execution fees for smart contracts individually.”

Published

on

IOTA’s MIOTA token was a strong performer in the crypto market today, December 3rd, as the team announced a new smart contracts network. The smart contract will be known as Assembly and will be based on IOTA’s current smart contracts framework.

According to IOTA’s announcement, Assembly will “leverage the IOTA network as an immutable trust anchor and bridge for interoperability between smart contracts.” The company expects it will “drive the development of smart contracts in their various forms, including decentralized finance and NFTs.”

Assembly will launch in 2022 and will have its own token ASMB. The token will initially be distributed to existing MIOTA holders via an airdrop that will begin “shortly.” This means that holders could receive the new token within the next few weeks.

Future token distributions will be voted on by the IOTA community, with tokens reserved primarily for developers, early adopters, and DAOs on the network

The new smart contracts network will offer a range of capabilities. The announcement states that it “will come with fixed fees of $0 thanks to the flexibility to set execution fees for smart contracts individually.”

“With these innovations, Assembly offers developers a powerful toolset to remove existing barriers to entry and bring the next billion users to cryptocurrency,” the team said.

Discover the world’s most interesting financial news with the mobile app Born2Invest. The app provides its readers access to the latest news in global business, stock market, finance news, and also trending topics like Bitcoin, cryptocurrency, and biotech.

IOTA is seeing a sharp rise in price

According to the Assembly website, users can use MIOTA to earn ASMB tokens. The Firefly wallet is required for users to claim their rewards. The company has not yet announced a date when exactly the new tokens will be available or when staking will begin.

SEE ALSO  New Born Solutions closes a round of €600,000 for clinical validation

Simultaneously with the news about the new smart contracts network, the price of MIOTA rose sharply. In the process, the token increased by almost 7% to $1.5159 in the last 24 hours. The price has increased by almost 9% in a month and 366% in a year.

The gains for the MIOTA token were significant long before the announcement of the new smart contract. MIOTA started to rise at around 04:00 UTC and has risen more than 13% since then.

MIOTA was the best performing coin among cryptocurrencies by market cap today. It is followed by Uniswap’s UNI token and Cardano’s ADA token, which rose by almost 5% in the same period.

__

(Featured image by sergeitokmakov via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in CRYPTO MONDAY, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Helene Lindbergh is a published author with books about entrepreneurship and investing for dummies. An advocate for financial literacy, she is also a sought-after keynote speaker for female empowerment. Her special focus is on small, independent businesses who eventually achieve financial independence. Helene is currently working on two projects—a bio compilation of women braving the world of banking, finance, crypto, tech, and AI, as well as a paper on gendered contributions in the rapidly growing healthcare market, specifically medicinal cannabis.