Sirlibz
The IOTA Foundation has announced the release of IOTA Smart Contracts. The Smart contract is a proof-of-concept and will be able to allow scalability, a feeless and flexible structured Smart Contract for the public application of enterprises and real world use cases.
IOTA is a network built and developed for exchanging value and data between humans and machines. It is the first distributed ledger technology developed for the internet of things (IOT).
In the statement released by the IOTA Foundation, they stated that the one released is a Pre-Alpha release and does not have all ISCP(IOTA Smart Contract Protocol) features enabled, but comes with three demo Dapps (Decentralized Application) which will help in demonstrating the capacity of the platform. These Dapps are TokenRegistry, FairAuction and DonateWithFeedback.
FEATURES OF THE DEMO DAPP’s.
The TokenRegistry will allow the Smart Contract users to simultaneously mint and also assign Metadata to the IOTA-Colored Tokens within a single transaction. This saves time and serves as the best solution for enterprises with these needs. Data is stored in it with info on who minted them and how many were minted.
The FairAuction allows Smart contracts users to auction the IOTA colored Tokens trustlessly. This Dapp allows for anyone to easily auction tokens or bid for auctioned tokens. It is fully decentralized and auditable and as such is a trustless Smart Contract.
The DonateWithFeedback allows the ISCP(IOTA Smart Contract Protocol) to carter for donations made for websites or organizations. The IOTA Foundation believes this is the simplest of all Dapp, it also shows the full ability of the ISCP to handle large or high volume work or ability.
