Quote from: John_Paul on July 03, 2017, 03:03:42 PM

Quote

Development Update:

- @cfb is currently working on the final design of IOTA, which will then be worked on for the standardization + all client development. Getting great input from Cyril and Serguei, as we are now adding the ability to have timestamps (which is also necessary for the next big thing that we're working on on top of IOTA).

What could be the "next big thing" they are working on?

The "next big thing" is Smart Contracts. Timestamps are needed for smart contracts, as a smart contract is executed based on events occurring in a timeline.

You can also confirm this by going to: http://dev.iota.org If you scroll down to the green section where it lists some features it says:

"SMART CONTRACTS

Automation of your processes (coming soon)."

------

So 'the next big thing' and the description of 'timestamp' is clearly indicating Smart Contracts. Imagine a fully scalable system unlike Ethereum which chokes on every ICO. The more transaction the faster it is. Yes its a big thing.