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IOTA NEARS MAINNET SMART CONTRACTS RELEASE, PAVING PATH FOR POTENTIAL ATH IN 2024

▪️IOTA is set to launch smart contracts on its Layer 1 network this year, with the transition from testnet to the mainnet expected to be swift.

▪️This would enable the L1 network to anchor decentralized applications and support tokenization, which founder Dominik Schiener says is the network’s key target market.

IOTA has been working towards being an all-encompassing network that can anchor decentralized applications, NFTs, tokenization, decentralized exchanges, and every other blockchain application. While most of these developments have been on the Shimmer staging network, the IOTA Layer 1 could catch up before the end of the year, starting with the debut of smart contracts.

According to discussions from the IOTA’s developers forum, the smart contracts could launch later this year. As noted by one community member on X, they would initially launch in a testnet environment but quickly transition to the main network.

Known as IOTA Academy, he noted:

If this is true and major RWA (real-worl assets) liquidity starts flowing in, we might easily approach IOTA‘s ATH next year.

According to the quoted forum conversation, IOTA developers have been working in private repos on big tech upgrades, but they are bound by non-disclosure agreements against speaking out about these developments.

It also claims that the smart contracts upgrade might include the introduction of MoveVM, a virtual machine designed to run smart contracts written in the Move programming language.

MoveVM enhances flexibility and security while also promoting speed through parallel transaction processing; it has been credited with allowing Web3 apps on networks like Aptos to process up to 150,000 transactions per second.

Earlier this year, IOTA announced the integration of Supra Oracles for IOTA EVM to enhance the data accuracy of its smart contracts.

IOTA Prepares for a Revolution
This year, IOTA has made significant advancements. While every development has been important to the growth of the ecosystem, none has been as significant as the launch of IOTA 2.0. It launched in May this year on a testnet and signals the network’s most radical development in years.

The testnet allows the entire ecosystem of developers, users, and the Foundation to experiment with the new decentralized framework. It comes with features such as feeless transactions and permissionless voting.

IOTA has already been recognized as the best infrastructure for the Internet of Things ecosystem, with Tangle being singled out as the best implementation of decentralized ledger technology for the rapidly growing sector by a recent study.

As we reported recently, a separate study showed that smart contracts on IOTA 2.0 can enhance and secure software-defined networking (SDN), which makes networks more flexible by separating the components of a data network.

IOTA trades at $0.1097 at press time, dipping 2% in the past day despite a 24% rise in the trading volume and a broader uptick in the overall market cap.

@ Newshounds News™

Source:  Crypto News Flash

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XRP LAWSUIT: LEGAL EXPERT SAYS THE SEC IS ‘NOT DELAYING’ THE RIPPLE APPEAL TO 2025

Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC) continues, with the SEC requesting yet another extension for its main brief submission, now pushing the deadline to January 2025. According to legal analyst Fred Rispoli, this request hints at more than just logistical issues; it shows that the SEC is struggling with its resources in handling cryptocurrency cases, adding to an already packed agenda.

During his appearance on the “Good Morning Crypto Show,” Rispoli said that Ripple’s appeal will focus exclusively on written submissions, characterizing the situation as a “battle of briefs” rather than live courtroom confrontations. Oral arguments are expected to take place in late 2025, providing both parties an opportunity to strengthen their positions.

However, former SEC attorney Marc Fagel countered Rispoli’s assessment, asserting that the SEC merely selected a date to file its briefs within the established timeline and that there are no delays occurring.

Taking to his X handle, Rispoli wrote,

“False. The SEC simply picked a day to file their briefs within the allocated time period. Nothing is being delayed.”

Gary Gensler, New Laws and More
On the show, Fred also discussed how a new law could affect Ripple. If a law were passed stating it would start on January 1, 2026, it might make the current legal arguments irrelevant, as long as it clearly includes Ripple. If the law is unclear about Ripple’s status, the appellate court might send the case back to the trial court for more clarification.

Fred said that new SEC leadership could greatly impact Ripple’s lawsuit.  Regarding Gary Gensler, the current SEC chairman, Fred predicted there’s a “0% chance” he’ll still be in that role by 2026.

@ Newshounds News™

Source:  CoinPedia

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🌱ZIMBABWE DITCHES U.S. DOLLAR FOR GOLD-BACKED CURRENCY. WHAT DOES IT MEAN?   |  Youtube

@ Newshounds News™

Source:  Seeds of Wisdom Team RV Currency Facts

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