IOTA Expressed:  We’ve made IOTA Smart Contracts fully compatible with the Ethereum Virtual Machine (EVM)! That’s right: any Smart Contract or dApp deployed on Ethereum or any other EVM chain can be easily deployed on IOTA as well.

Community response:  On Dev Net Not the Mainnet. It is a beta version. This will be only useful for the token after it’s implemented into the mainnet.  It’s going to be useful and BUIDL now then you’re ready when mainnet is ready.

The first DEX on IOTA will be a copy of Uniswap or PancakeSwap? The betting begins.

This is hyper bullish, but when mainnet?

The IOTA blog states, the beta release of programmable smart contracts is now available on the IOTA 2.0 DevNet.

IOTA thus enters Web3. With the beta release of IOTA Smart Contracts, IOTA provides programmable smart contracts on the IOTA 2.0 DevNet, which includes early support for the Ethereum Virtual Machine (EVM) and smart contracts written in Solidity, Go (TinyGo) and Rust.

They are currently working on extended EVM support, further optimization and porting smart contracts to the IOTA mainnet. Together with the integration of the Tokenization framework, it will offer a powerful solution for seamless, trustless and feeless interoperability and composability between smart contracts on IOTA.

The IOTA Smart contract even during the early implementation provides extensive compatibility. Thus, bridging the biggest smart contract ecosystem onto the IOTA’s feeless base layer. This means that Solidity contracts will be able to be easily ported to IOTA, thus reducing implementation time and benefitting from the vast ecosystem of Solidity tooling and products, which are available on the market today. This includes full access to the MetaMask wallet.

Smart contract chains are deployed without having to ask for permission.  There are no auctions and no additional cost of friction. Several chains are expected to compete with each other for smart contract execution as the fee can be set by the owners, thus making it possible for end users to get the lowest fees possible.

In the long run, it can even be possible for fees to be become zero and use their native tokens to reward their validators, eventually creating their own economies. Thus bringing down the entry barriers for their dApp.

When feeless IOTA base layer acts as a trustless atomic bridge, it will be possible for creating unprecedented utility for NFT marketplaces for the benefit of developers in decentralized finance (DeFi) and decentralized exchanges (DEX).