- Dominik Schiener resorted to answering the questions of the community through an AMA on Thursday
- Dominik highlighted that the IOTA Foundation is in talks with multiple stablecoin providers
- Currently, the IOTA Foundation is upgrading the RFC
Dominik Schiener (“Dom”), the IOTA co-founder, again initiated a conversation where he resorted to answering the community’s questions through an AMA on Thursday. This time, the most exciting questions revolved around Coordicide, smart contracts, governance, and stablecoins on IOTA’s platform.
IOTA Foundation’s progress with the stablecoins
On stablecoins, Dominik highlighted that the IOTA Foundation is in talks with multiple stablecoin providers. However, a specific requirement is implementing the IOTA Smart Contract Protocol (ISCP). He added that once the team is ready, they will roll out stablecoins on IOTA and ISCP. It represents a self-explanatory option as most of them wish to be present on multiple ledgers. Thus, they are making it relatively close with Bitfinex.
Another crucial question from the community was about the much-anticipated release of smart contracts. Dom reported that ISCP would allegedly not release with Chrysalis phase 2. Currently, the IOTA Foundation is upgrading the RFC. After this, the platform will execute these changes in GoShimmer for intrinsic testing. Once that is clear, they will publish the ISCP on the mainnet.
Dom stated that the primary obstacle for the ISCP would be the amalgamation of BLS signatures into the mainnet. These are dominant to the operations of committees concerning smart contracts. Dom expressed that the platform’s objective is to get the digital assets on the mainnet soon before the smart contracts.
Founder’s take on plans of IOTA
Moreover, Dominik emphasized that creators and businesses won’t have to wait anymore. They can already begin developing applications with their access to GoShimmer and the Nectar testnet. This is because the applications of the node software and media centers on the mainnet are likely to be the same, and it will not need significant changes to shift to the mainnet.
An essential long-term query inquired about the future progress of a governance framework for IOTA. Dom responded that currently, there is active research happening on this topic. Very interesting smart contract applications are related to governance, like decentralized autonomous organizations (DAO).
For similar reasons, the IOTA Foundation wishes to put itself in the center of this research on fresh governance approaches. It also plans to partner with universities as well as ecosystem developers. With the context of smart contract protocol governance, the platform aims to execute something similar to the proposals of Polkadot and Tezos.