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29 September 2023
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IOTA Makes 4 Key Decisions With Stardust Upgrade

IOTA announced its four key decisions while introducing the Stardust upgrade. The overall goal of IOTA is to expand the utility and token economies, which are often presented as tokenomics. IOTA aims to maximize community case utility by doubling down on IOTA. The announcement described these decisions as bold and were warmly welcomed by much of the community.

First, IOTA aims to integrate general purpose smart contracts. This will follow the launch of IOTA 2.0 to improve programmability on L 1. IOTA has described this as a multi-year effort, with details to be revealed in the coming months. Shimmer will continue to maintain its status as a complementary staging network. It will carry out the task of validating and accelerating the IOTA technical roadmap. The focus is on utility maximization, tokenomics and scalability.

The third decision is to no longer develop the Assembly project or issue the Assembly token. The focus will be on generalizing the structure of smart contracts by intensifying efforts on the IOTA chain. Smart Contracts will hail the L2 blockchain on the network and assist in developing smart contracts dedicatedly for Layer 1. IOTA has decided to create an Ecosystem Fund. This will help both the development of the ecosystem and the decentralization of network management. The fund will be financially supported by token inflation, which will last for four years. The supply of tokens is expected to reach 4.6 bln during this period.

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