Iota announced the launch of the decentralized smart contracts network arranged and reproduced by the Assembly, as well as the accompanying ASMB token. The move is aimed at an attempt to accelerate the expansion of smart contracts in a multitude of sectors, including decentralized finance (DeFi) and non-fungible tokens (NFTs).
The Assembly uses the existing architecture of the Iota network, the most important of which is the directed acyclic graphics structure, to operate as a bridge capable of operating with other supports, in addition to being self-sovereign, reaping the best benefits of scalability and security, among others, according to information from the Cointelegraph.
Decentralized application (DApp) developers have the ability to create their own smart contract chains, as well as set individual parameters for low-cost execution rate, a function that also allows service providers to issue stable assets na string to encourage validators, programs used for verification or syntactic correction of a code fragment/document.
The platform is fully compatible with Ethereum Virtual Machine (EVM), and it also supports the intelligent contract languages Solidity, Rust, Go and TypeScript, with other platforms expected to be added in the future.
“The Assembly is fully adjustable and can bridge any smart contract chain running any type the user desires. Every network built using the protocol will benefit from the shared security, interoperability, and token infrastructure provided by the Assembly network,” pointed out Dominik Schiener, co-founder and president of the Iota Foundation, to Cointelegraph.
In October, the Iota had made available betas smart contracts with EVM functionality, in its first effort to expand scalability, interoperability, and also seek to reduce network transaction rates.
The Assembly seeks to encourage its environment to be also for creators and developers, facilitating the expansion of the Iota ecosystem in several sectors of Web3, including the Metaverse.
“Its fundamentals must be able to support and unite any type of technical architecture that its creators desire, not inhibited by gatekeepers, expensive auctions or rigid architectures limited to certain programming languages, virtual machines or types of intelligent contracts”, concluded Dominik.
