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IOTA launches Ethereum layer 2 network focused on real-world assets
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Jun 4, 2024
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Workflow Automation Platforms

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Jun 4, 2024

IOTA launches Ethereum layer 2 network focused on real-world assets

Product updates

  • IOTA, a blockchain-based IoT platform, has announced the launch of its Ethereum layer 2 network for tokenizing real-world assets.

  • The launch will also introduce a number of new features into the IOTA ecosystem. These include smart contracts, parallel processing, which allows for multiple transactions to be executed simultaneously, smart contracts, cross-chain capabilities, which allow for interoperation between different blockchains, and protection against maximal extractable value (MEV), which will reduce gas fees.

  • IOTA is a trust layer protocol designed for IoT, which provides an open, feeless, and scalable distributed ledger technology (DLT) known as the “Tangle.” IOTA transactions validate two other transactions, removing the need for miners and enabling zero-fee transactions. This makes it an ideal solution for microtransactions, which are crucial for IoT applications.

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