IOTA is gearing up for the release of ShimmerEVM, following a successful testnet phase that showcased its potential to compete with well-known DeFi platforms. The cryptocurrency community is buzzing with excitement, fueled by a tweet from blockchain researcher Collin Brown, who announced the release date of September 28th. Despite facing challenges during testing, IOTA has addressed all major obstacles, paving the way for a closed launch of ShimmerEVM, followed by a public unveiling.
ShimmerEVM has the potential to be a game-changer in the crypto industry, with speculations suggesting it could challenge established giants like Bitcoin, Ethereum, and Ripple. Its remarkable capabilities demonstrated during the testnet phase make this possibility even more likely. As the first EVM-compatible smart contract chain in the Shimmer network, ShimmerEVM offers fast, reliable, and concurrent smart contract operations. This, combined with its innovative design, positions ShimmerEVM as a strong competitor to DeFi platforms like Arbitrum and Binance Smart Chain.
Shimmer itself is not just another cryptocurrency. It introduces a parallelized DAG ledger specifically designed for unique smart contract chains and is set to launch as ShimmerEVM. With its successful testnet phase, it has already shown its potential. Features like enhanced security protocols, no transaction charges for L1 asset movements, and a pioneering storage deposit system make Shimmer even more appealing in the rapidly evolving world of cryptocurrency.
As the September 28th launch date approaches, the question on everyone’s mind is whether this groundbreaking development will drive the price of SMR upwards by 30%, as anticipated. Only time will tell, but the momentum and anticipation are undeniable.