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IOTA 2.0 Stardust Upgrade

Updated: Oct 7, 2023

#IOTA made a big release on October 4th allowing to create smart contracts on L1. For most people in the space this doesn't sound like a big thing since programmability on the chain is a normal thing if you look at Ethereum and other chains based on it's technology and network.

The big difference is, this comes with the already ground breaking #DAG (Directed acyclic graph) DLT (Distributed ledger) which without adaption of roll ups allows for parallel transaction settling with a higher trust as the network grows.

Some of the interesting real world applications:

  • GovChain, which we have developed through EBSI (European Blockchain Services Infrastructure), are an example of government-operated L2 networks to be built on IOTA to enable new digital services for governments and citizens (e.g. digital identities, digital product passports, registries, etc.).

  • TLIP is a network for trade and logistics, currently already running in a large-scale pilot in Kenya and being expanded across Africa and other countries.

The TLIP project intrigues me specially it shows how to digitize the export and import process with an open trusted network to easier create all necessary papers to ship goods across countries.

EBSI is another interesting case with the ability to trustfully digitize governments and citizens services. IOTA is there with two other projects in the last selection phase for the final solution development and field testing.

The IOTA protocol is really becoming an interesting option as an utility with real world potential.

All about the stardust upgrade can be read here.

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