IOTA is testing smart contracts for the first time

  • IOTA development team publishes update on the main projects of the platform.
  • The development team has implemented the first smart contract that will serve as a basis for future testing.

In a publication of the IOTA development team, the progress of the main platform projects is reported. Firstly, the publication refers to the progress that the IOTA development team has made on the phase 1 of the Chrysalis mainnet, also known as IOTA 1.5.

Details on the progress of the IOTA Chrysalis mainnet

According to the developer team, the Bee and Hornet teams are working on the implementation of phase 1 of the Chrysalis features. In addition, the team announced that the Chrysalis Phase 1 milestones will be ready by the time the development phase and functionality audit for the node Hornet and Bee are completed.

Once this phase is completed, the following changes and improvements to the IOTA network will be implemented: transaction confirmation times of about 10 seconds, “significantly” higher data throughput (TPS), general performance improvements for the nodes, optimization of the development environment and adaptation of components for business use. The launch of Chrysalis Phase 1 is scheduled for the second half of July this year. The IOTA team invited the community to comment on the progress and contribute to the project.

On the Bee team’s progress, the release reveals that they are getting close to deploying the first alpha version of the Rust node. This node will be implemented in conjunction with the first phase of Chrysalis. Currently, the team is moving prototype components into the main Bee repository. In addition, the Bee team is building an approach that will allow the creation of prototype solutions more easily. This will improve the speed of future developments.

In addition, the Hornet team launched version 0.4.1 of the node. The team is working on the implementation of the Chrysalis Phase 1 features for the next version of Hornet. The developer team also released IRI version 1.8.6 and once again urged the community to upgrade to the new version of Hornet.

On the launch of the Pollen test network, the developer team was pleased that the network has reached 250 active nodes. In addition, they noted that some subsequent minor versions have been released to fix certain bugs. The Pollen team is currently working on repairing a synchronization issue between the nodes. At the same time, they are working on the development of the rest of the components for Nectar that will include mana, adaptive Proof of Work, among others.

Smart contract testing for IOTA

Perhaps the most important development of the last week is related to the testing of smart contracts. Although it is in its initial phase, it will serve as a test for future implementation:

The team has also implemented the first hard coded smart contract. The hard coded smart contract will serve as a basis for testing the implementation of the whole approach, and the team will build a dashboard and tooling for it.

Finally, the IOTA development team has also completed the specifications for the new wallet built for phase 2 of Chrysalis. The team is working on the initial implementation of the wallet library and the library for secure storage and handling of private keys.

About Author

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

Comments are closed.