Release of 2.0 makes IOTA top blockchain of the future

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on Feb 16, 2022
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  • IOTA might find a niche with the modular public chain trend this year
  • Core technical features of Assembly include UTXO ledger, typified by its permission of concurrent writing
  • Assembly and IOTA are analogical to the Layer1 module similar to the Polkadot relay chain

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IOTA 2.0 (MIOTA/USD) and Assembly are in an excellent position to fulfill the requirements of the modular public chain of the decentralized ecosystem of the future according to a Medium post, which explains the reasons for this.

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Finding a market niche

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IOTA might finally find a niche with the modular public chain trend this year and the upcoming release of IOTA 2.0 and Assembly. Its new characteristics are listed below.

  • No MEV
  • EVM compatible
  • Supports Web Assembly
  • Sharing Security
  • High TPS
  • Scalable
  • Easy to customize

Assembly’s technology

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The core technical features of Assembly include the UTXO ledger, typified by its permission of concurrent writing. This lends it a major advantage in scalability compared to Ethereum’s (ETH/USD) account model. On the other hand, the account model is best-suited to smart contracts because of the existence of objective and global states.

Not supporting smart contracts is an advantage

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Most smart contract blockchains are based on the account model and not the UTXO one because the former’s Turing completeness and functionality are far superior to UTXO-based scripts. In some cases, however, the L1 of a UTXO only needs to be responsible for settlement and doesn’t need to run dApps or process any contracts.

In this situation, the inability to support smart contracts would not be a disadvantage. This is because no dApp from L1 would be competing with L2 for resources. L1 processing has a huge advantage in the number of L2 supported simultaneously.

Assembly — a Layer 1.5 blockchain

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Assembly is considered a “Layer 1.5” blockchain, which is a smart contract architecture layer. Each smart contract chain built on Assembly would end up forming the real Layer2.

Assembly and IOTA are analogical to the Layer1 module similar to the Polkadot (DOT/USD) relay chain if you see all the contract chains connected to Assembly as the parallel ones on Polkadot, which appear as L2 in this case.

Assembly provides proof of stake of ASMB, its native token. In itself, it is similar to the node verification of other public chains. Malicious behavior is detected at once and errors are eliminated.

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