IOTA's Rebased Protocol, which aims to enhance scalability, decentralization, and programmability, has gained attention from industry giants. The protocol will introduce new features to improve performance and integrate the MoveVM for programmability at the L1 level. It will also enable high transaction processing speed and utilize a burn fee function. IOTA has been developing smart contract functionalities since 2021, including the IOTA Smart Contracts Protocol (ISC) and Layer 1 Smart Contract. The implementation of MoveVM into IOTA 2.0 is a multi-year effort requiring breaking protocol changes. The Rebased testnet has been launched for community assessment. IOTA is currently trading at $0.172.



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