This Transition of this L1 IoT Giant into Into RWAs Could Be Massive

While the market is hyping up L1s and reviving dino coins, how can we forget one of the OG L1 @iota which has been quietly shipping tech since 2015?

When IOTA announced Rebased two weeks ago, the blockchain industry took notice. However, according to one community member, the impact that this upgrade will have on IOTA and the entire sector is yet to be fully appreciated.

The current bull market has seen many of the older blockchain networks that have been around for a decade making a comeback. XRP has shaken off the SEC hangover and is surging; Cardano is on its best run of form since 2021; Stellar Lumens has been setting the pace on the price charts, gaining 470% in the past 30 days.

IOTA is another sleeping giant that has awoken, one market commentator notes.

This Transition of this L1 IoT Giant into Into RWAs Could Be Massive !

While the market is hyping up L1s and reviving dino coins, how can we forget one of the OG L1 @iota which has been quietly shipping tech since 2015?

Now, it’s gearing up for one of its biggest updates: IOTA… pic.twitter.com/Q9MQzdLEmX

— Axel Bitblaze ? (@Axel_bitblaze69) December 1, 2024

But for IOTA, the biggest progress hasn’t been on the price charts; rather, it has been with its technology. As we reported, the team behind the project announced Rebased on November 20 as an acceleration of the network’s push to power real-world applications.

According to the commentator, with Rebased, IOTA becomes the first Layer 1 network to become a “dual smart contract ecosystem, combining Parallelized Move VM and EVM.” He adds:

“With the Rebased Update, IOTA sets itself apart by combining the best of both EVM and MoveVM, adding serious firepower to its stack. For me, this upgrade is a game-changer for RWAs and DeFi, with IOTA already laying the groundwork for real-world utility.”

IOTA Rebased Changes the Game

One of the biggest benefits of the Rebased upgrade is that it allows IOTA to more aggressively target the tokenization of real-world assets. The upgrade allows the network to integrate MoveVM into its L1, which allows developers to deploy programmable smart contracts for tokenizing RWAs.

This upgrade allows IOTA to tokenize everything from goods to financial instruments, enabling applications like trade finance and supply chain tokenization.

Rebased has already started attracting significant players to the ecosystem. The latest is Gen Sol, a Web3 gaming and animation platform that has close ties to the country’s government.

“IOTA and Gen Sol are gearing up to take over Web3 in 2025,” the two partners announced recently.

IOTA Price Analysis