IOTA’s Stardust Upgrade: Tokenization and L2 Smart Contracts Propel Innovation

• IOTA is set to implement the Stardust protocol upgrade on October 4th.
• This upgrade introduces tokenization capabilities and Layer 2 (L2) smart contract chains to the IOTA network.

The blockchain community is buzzing with anticipation as IOTA prepares to roll out the Stardust protocol upgrade on October 4th. This highly anticipated enhancement brings a tokenization framework to the IOTA network, opening doors to a world of possibilities. It equips the network with the capability to host Layer 2 (L2) smart contract chains, marking a significant leap forward in IOTA’s evolution.

At its core, tokenization empowers the representation of real-world assets on the blockchain. This fundamental shift has the potential to expand IOTA’s utility far beyond traditional currency transactions. The integration of L2 smart contract chains not only enhances scalability but also bolsters the network’s efficiency. IOTA’s commitment to innovation is evident in this holistic upgrade.

The Stardust upgrade is not just an enhancement; it comes with a fork in the IOTA network. This fork gives birth to two distinct entities: the IOTA network based on the Stardust protocol version, which boasts an increased supply, and IOTA Classic, retaining the old supply but embracing the Stardust protocol’s capabilities.

IOTA has meticulously prepared for this upgrade. The Stardust protocol version has a proven track record, having been successfully deployed on the Shimmer network since September 2022 without any hiccups.

For Node Maintainers and Users

Node maintainers on the IOTA network must stay updated with these changes. Post Stardust upgrade, it’s crucial to update your software to the forthcoming Hornet release (version 2.0.0). Additionally, the new Firefly IOTA version 2.0.0 will be available for download post-upgrade. It’s important to note that IOTA will not provide tooling or software support for the IOTA Stardust Classic network.

For users who’ve previously staked for assembly tokens, an airdrop is on the horizon, visible within the Firefly wallet. Users can expect around 10% of the airdrop immediately post-upgrade, with the remainder vesting biweekly over two years. The migration process is expected to be seamless, requiring no user actions.

Renowned exchange Binance has pledged its support for this blockchain evolution. They are fully backing the network upgrades and hard forks of Sei, IOTA, and Arweave. This endorsement underscores the significance of these upgrades in the blockchain space. Binance users can be confident that the platform will handle all technical requirements, ensuring uninterrupted trading.

As the blockchain community eagerly anticipates this pivotal moment, IOTA’s Stardust upgrade represents the ever-evolving promise of blockchain technology, pushing the boundaries of what’s possible in the world of digital assets and smart contracts.