Thread by @cyrilXBT

I spent 24 hours researching #IOTA 0.3.0 and there are some AMAZING upgrades happening.

Here is EVERYTHING you need to know about the upgrade 👇
#IOTA #SHIMMER

I will be covering the following areas:

• Extended EVM, Stardust Ready, and Much More
• Mainnet compatibility
• Extended EVM Support
• Reliability and recoverability
• What’s next?

Extended EVM, Stardust Ready, and Much More

The framework is now interoperable with the Shimmer network thanks to the availability of IOTA Smart Contracts.

It will also work with IOTA whenever Stardust is implemented on the IOTA mainnet.

IOTA Smart Contracts is now more prepared than ever to provide a compelling smart contract solution on top of IOTA and Shimmer, ready for developers to test out.

New features include Stardust ledger support, extended EVM support, improved reliability/recoverability, tooling, gas support, and many other improvements.

Mainnet compatibility

Version 0.3.0's greatest change is its transition from a GoShimmer-based network to one that is compatible with mainnet-ready node software.

As there was no support for smart contract anchoring on the IOTA mainnet, ISC initially used the experimental node software GoShimmer, which was created by the IOTA research division.

Because GoShimmer was an experimental program, its code frequently changed, which led to ISC instability.

Extended EVM Support

ISC now has experimental EVM support thanks to GoShimmer, enabling developers to run both new and current Solidity smart contracts on top of ISC in a reliable manner.

Builders and users eager to get a taste of a prospective Defi ecosystem on IOTA paid close attention to this experimental version, which was quite successful and received a lot of attention.

This release was an interesting but not really practical or original proposal because it was a standalone EVM chain on top of ISC with no direct means of interaction between GoShimmer (the ISC chain) and the EVM chain on top of it.

To make the EVM support a first-class citizen in ISC, they provide a ton of new features on top of this implementation with this new version.

upgraded Wasm-based smart contract tooling

A good amount of love and attention has also been given to the Wasm-based smart contract support.

Numerous enhancements have been implemented, including the ability to accept fee payments in gas, significantly enhanced schema tool support, and a newly created client library for each of the three supported languages (Go, Rust, and AssemblyScript).

The Wasm VM can now make advantage of the new native asset capability and is completely Stardust-aware.

gas and gas fees are being introduced

The VM didn't have a concept of gas in the prior release.

Paying costs for the execution of smart contracts was also a temporary measure, with fixed prices for Wasm-based chains and gas fees for the EVM chain.

ISC must implement the idea of gas and a gas budget to manage and assess fees for the execution time and other resources required when executing smart contracts, just like any other Turing-programmable smart contract platform.

Gas, a gas budget, and gas costs are all implemented uniformly and consistently in the ISC Stardust release.

Gas prices for operations with Wasm and EVM-based smart contracts will be set so that they are equivalent for similar kinds of executions.

They added functionality to

the governance contract so a chain owner may choose the base token of the chain being used (Shimmer or eventually IOTA) or any native asset for the fees to be paid, the number of tokens to charge per gas unit, and the destination of the fees collected (a ratio between the chain

owner and validators).

Reliability and recoverability

The last release and (mainly) the public testnet has taught us that the smart contract node software must be dependable and able to recover from any potential faults that can develop, even if all nodes fail simultaneously.

Why is this release being made?

Stardust is prepared, thus they want to be prepared to begin executing smart contracts there when the Shimmer public testnet transforms into Shimmer itself.

Although everything is functioning right now, there is still potential for improvement from the user experience standpoint.

What’s next?

Enhancing user experience and reliability will be our primary emphasis at this time.

As soon as they deem it ready, they will reassess overall priorities and begin developing intriguing new features in response to community demand.

That's a wrap!

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