IOTA to Release Smart Contract Network ‘Assembly’ And Distribute ASMB Token

The ledger IOTA aims to become “a fully decentralized, feeless multi-asset ledger” by launching Assembly in 2022, a governance layer one for permissionless smart contracts, along with the native token ASMB that will open the doors for the network’s main stakeholders, who would be democratizing Assembly. IOTA’s founders say the ledger is a “public permission-less backbone for the Internet of Things that enables interoperability between multiple devices.” It aims to provide decentralized transactions accessible for everyone, without the need for miners or blocks, offering solutions for the cost fees, increasing scalability, and staying secure by using the Tangle network. As the Shimmer network was released only two weeks ago along with its own token -with real monetary value, most likely to be traded on crypto exchanges- to stake, some skeptical users questioned the actual need for Assembly, but enthusiasts have compared to a scalable Ethereum without imposed fees. Smart contracts will be allowed to run for free, but there is an option to put a price when high computing power is needed, in which cases supply and demand will determine prices. Smart contract chains can be fully run from Assembly’s own network, which is the reason for all activities to be anchored to the IOTA Tangle to provide trust by “making them fully immutable and secure”. Related Reading | IOTA Smart Contracts Enter Bet...