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3 exciting IOTA developments that bring the network back on the map



IOTA now seems to be a forgotten network for the mass of crypto investors. The MIOTA token of the exciting blockchain project rose in 2017 to fourth place among the most valuable cryptocurrencies by market capitalization. The token is now only in 49th place. However, some further developments give hope that IOTA could come closer to the top again.

Smart contract functions

For a long time, Corona had not developed in the same steps as other blockchain networks. Blockchains such as Cardano and Solana in particular made great leaps in 2021. IOTA, on the other hand, has increased in price, but the MIOTA token price is still only about a third of the all-time high at the turn of the year 2017/18. 

Now the Iota Foundation has taken an important step into the future. She has now made beta version smart contracts available in the Iota 2.0 DevNet. With this, the blockchain wants to make an attack on the market leader Ethereum and has arrived in development in 2021.

Developments towards the multi-asset ledger

As a result of the smart contract functions, IOTA now also wants to pave the way for the multi-asset ledger. So far, only the MIOTA token has used the Tangle network. In the future, different native tokens will be managed over the network. These can also interact with the mentioned smart contracts.

The special thing about IOTA is that there are no transaction fees for users. Above all, this can be an advantage over its fellow competitor Cardano. This already has 27,000 assets on the blockchain. However, a deposit must be paid for asset production to offset the consumption of node resources.

Staking awards in the Shimmer network

The last major further developments of the network are the staking awards, which were introduced at IOTA with the start of the Shimmer network. In the future, the network wants to be completely decentralized and managed by the community. With the staking awards, IOTA wants to create an incentive for the validation of important functions.

The Shimmer token (SMR) is intended to serve as a reward for staking users. IOTA speaks of annual percentage returns of almost 8 percent. With Shimmer, the network wants to position itself for the future and soon create applications for the DeFi and NFT market.

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