The blockchain community is well-versed to the fact that Theta Mainnet 2.0 is going to be released on May 27. The company is working hard on the project, but along with the release of this mainnet, Theta is also working frantically to launch a smart contract feature for its blockchain. The project is slated to come into the market in the second half of the year, but today the company has announced the release of its Alpha phase on Theta Smart Contract Sandbox.
Announcing THETA Smart Contracts Sandbox Launching on Testnet! smart contracts on Theta are fully compatible with the Ethereum Virtual Machine, which means that essentially ANY Ethereum smart contract can be easily ported over to run on Theta blockchain.https://t.co/YnHXCqaGA4 pic.twitter.com/MGvK8k22yh
— Theta Network (@Theta_Network) May 21, 2020
Smart Contracts Segment
There are already a number of players in the segment of the smart contract platform. It is nearly impossible for any developer to start making the community from scratch, which is why Theta has decided to make the whole process compatible with the ethereum virtual machine. In simple layman terms, any ethereum smart contract project can be easily run on the Theta blockchain. Alternatively, developers can also jump on the Theta’s blockchain in order to start with the development of new smart contracts.
The primary advantage that you get while developing your smart contracts on Theta is a range of extra features that are available on the platform. The number of tools that the platform makes available for the developers is quite large, and their functionality is of top-notch. The possibilities are infinite, and as the community grows in the future, one can actually realize the potential of the platform in terms of developing and deploying smart contracts. Once again, it is emphasized that this is only the alpha release, and there are a number of tools that are still required to conveniently create the contracts on the blockchain.
The possibilities are endless when it comes to the smart contracts and its development on the Theta Blockchain. The decision of the company to conceive the processes in compliance with the ethereum virtual machine is a very smart move as it saves a lot of time, cost, and resources that would have otherwise gone into starting a community right from scratch. Although the functionality in the Alpha phase is going to be limited, still it is an indication of what happens to be in the store for developers when the full-fledged launch happens later in the year.