IOTA will release the smart contract network “Assembly” and distribute ASMB tokens

The ledger IOTA aims to become “A fully decentralized, no-fee multi-asset ledger assembly In 2022, a governance layer for permission-free smart contracts, and the native token ASMB, will open the door to the main stakeholders of the network who will democratize the conference.

The founder of IOTA stated that the ledger is “a public permission-free backbone network of the Internet of Things that enables interoperability between multiple devices.” It aims to provide decentralized transactions for everyone, without the need for miners or blocks. , Provide cost and expense solutions, improve scalability, and maintain security through the use of the Tangle network.

Since the Shimmer network was only released two weeks ago with its own tokens (which have real currency value and are most likely to be traded on cryptocurrency exchanges), some skeptical users question the actual demand for Assembly, but enthusiasts Compare it to a scalable token. Ethereum does not charge any fees.

Smart contracts will be allowed to run for free, but pricing can be selected when high computing power is required. In this case, supply and demand will determine the price.

The smart contract chain can run entirely from Assembly’s own network, which is why all activities are anchored to the IOTA Tangle to provide trust by “making them completely immutable and secure.”

Related Reading | IOTA smart contract enters Beta stage to avoid network defects

Staking of Assembly (ASMB) token

Proof of equity can also help provide trust. As a decentralized network, of course, if users need help, Assembly does not have a central system to reach, so staking comes into play, because a broad community aims to be established through ASMB tokens, and members care about security and maintenance of the network: validators .

If the verifier does not play a role in ensuring that the rules are followed, they will be punished. Similarly, following the rules will generate revenue for validators in the form of more tokens. All you need to do to deploy a smart contract chain or become a validator is to run a node or own a “small amount” of ASMB tokens “as a deposit.”

ASMB Tokens will have “70% flow to the community”. At the beginning, the tokens will be created within 90 days, at which time users will be able to “stake IOTA tokens to earn ASMB tokens”. -By locking IOTA- on the Firefly wallet, the tokens will be able to be collected for free, and users will have 2 years to receive pledge rewards.

20% of the initial token supply will be distributed to IOTA holders. After that, ASMB token distribution will have more pledge periods.Assemble further Depend on Dominic Sina, The co-founder of IOTA, such as:

A completely decentralized, permissionless network.It is an extension Smart contract Framework (in Beta version), and adds a validator pool, ASMB token, staking and reduction.Anyone can deploy a fully sharded smart contract network assembly, While benefiting from shared security, trustless interoperability, and merciless trade.

No more bridges, relays, or M-of-N multi-signatures. We are here to connect smart contracts. … What makes Assembly so unique is that you can customize the fees and rewards.

He also said that the journey of Assembly has just begun, and they will share more detailed information about the Builders Program and the support that teams built on Assembly and IOTA will receive. “Tip: This involves a lot of financial support,” he said.

Related Reading | How did IOTA’s locked tokens reach $1B before Chrysalis 2.0

IOTA is trading at $1.3910 on the daily chart | Source: IOTAUSD is TradingView.com



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