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Iota announced the release of the decentralized first-tier smart contract network Assembly, and the accompanying ASMB token, to accelerate smart contracts in multiple areas including decentralized finance (DeFi) and non-fungible tokens (NFT) Extension.
Assembly uses the existing architecture of the Iota network, especially the directed acyclic graph structure, to operate adjacently as an interoperable and self-sovereign bridge, thereby obtaining advantages such as scalability and strong security.
For decentralized applications or DApps, developers can create their own smart contract chains and set individual parameters for low-cost execution costs. This feature also enables service providers to issue stablecoin assets on the chain to incentivize verifiers.
In addition, the platform is fully compatible with the Ethereum Virtual Machine (EVM) and supports smart contract languages Solidity, Rust, Go and TypeScript. It is expected that more will be added in the near future.
In a conversation with Cointelegraph, Dominik Schiener, the co-founder and chairman of the Iota Foundation, revealed how Assembly aligns with Iota’s overall vision of creating a decentralized ecosystem, and how the project’s infrastructure provides a perfect environment for project construction ,And noted:
“Assembly is fully configurable and can span any smart contract chain of any type and style required by its builders. Every network built using this protocol will benefit from the shared security and interoperability provided by the Assembly network. And token infrastructure.”
related: Iota Foundation launches temporary network and reward tokens
October, the Iota Foundation launches beta version of smart contract With the help of EVM function, we strive to expand scalability, interoperability and greatly reduce transaction costs on the network.
The token distribution model allocates 40% of ASMB assets to community decentralized autonomous organizations, 20% to Iota stakeholders (as rewards for the next two years), and the other 10% to early participants and ecosystem development The remaining 20% of the staff goes to the Iota Foundation.
By adopting this community-centric governance model, Assembly is seeking to create an environment for creators, developers, and community advocates to promote the expansion of the Iota ecosystem to the entire Web3 field including Metaverse.
exist The parabolic financial gains of Metaverse Tokens MANA and LANDIn addition to the intensified mainstream debates surrounding the influence of the emerging world of Metaverse, Schiener also expressed the importance of establishing and maintaining an open, transparent, and autonomous Metaverse model:
“Its foundation must be able to support and connect any type of technical architecture that its builders want, without being restricted by gatekeepers, expensive auctions, or rigid architectures limited to certain programming languages, virtual machines, or smart contract types.”
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