IOTA Started Testing Smart Contracts For The First Time: Report

IOTA started testing smart contracts for the first time as the team published an update on the main projects of the platform. The development team implemented the first smart contract which will serve as a base for future testing, so let’s find out more in the IOTA news today.

In a publication earlier today, the IOTA development team said that the progress of the main platform project is now reported and referring to the progress of the development on phase 1 of  Chrysalis mainnet or IOTA 1.5. According to the development team, the Bee and Hornet teams are working on the implementation of Phase 1 of the Chrysalis features and they also announced the phase 1 milestone that will be ready by the time the development phase and functionality audit for the node is completed as IOTA started testing other options.

Once the phase is completed, the following changes and improvements will be implemented: transaction confirmation times of 10 seconds, higher data throughput, general performance improvements for the nodes, optimization of the development environment, adaptation for business use. The Chrysalis Phase 1 is scheduled for the second half of July this year and the team invited the community to comment on the progress of the project. The Bee team’s progress shows that the team is getting closer to deploying the first alpha version of the Rust node which will be implemented along with the first phase of Chrysalis. The team is moving the prototype components into the main repository and they are working on improving the speed of future developments.

The Hornet team launched version 0.4.1 of the node and the team is working on the implementation of the Chrysalis Phase 1 for the next Hornet version. The developer team released an IRI version and urged the community to upgrade. During the launch of the Pollen test network, the developer team was thrilled that the network reached 250 active nodes and noted that some minor versions were released to fix certain bugs. Maybe the most important development of the previous week is related to testing the smart contracts which will serve as a test for another implementation.

The development team also completed the specifications for the new wallet for phase 2 of Chrysalis and they are working on the initial implementation of the wallet library for secure storage.