The IOTA Foundation has officially launched the IOTA EVM, with the full launch expected at the end of the month. This introduction marks a significant milestone in the IOTA ecosystem, offering new possibilities and enhanced connectivity.
Susanne Krone, the Head of Ecosystem at the Foundation, announced the soft launch on Monday, emphasizing the careful and phased approach taken to ensure a successful rollout. Krone stated that the Foundation will work closely with the builders’ community to establish the necessary infrastructure and lay the foundation for future developments.
The integration of the Ethereum Virtual Machine (EVM) into the IOTA ecosystem has been highly anticipated. Last year, EVM compatibility was deployed on the Shimmer staging network, resulting in fast transactions and low fees. The next step was to integrate the EVM into the mainnet, a process that the community has eagerly awaited. Founder Dom Schiener previously mentioned a targeted launch date of March 31 for the EVM capabilities.
The soft launch enables the community to test the functionalities of the IOTA EVM before the full launch. The Foundation will closely monitor progress and consider factors such as infrastructure readiness, community alignment, and optimal timing for future activities and announcements when determining the official launch date.
The integration of the EVM onto the IOTA network will be a game-changer. With millions of dollars locked on ShimmerEVM, there is a high demand for the feeless base layer offered by IOTA’s directed acyclic graph (DAG) infrastructure. The IOTA EVM is highly scalable, with a throughput of up to 700 transactions per second. Additionally, appchains can further enhance scalability, allowing users to quickly deploy solutions like SPYCE 5.
Unlike many other networks, the IOTA EVM eliminates third-party risks by enabling the transfer of all assets, including native coins and NFTs, without the need for a bridge between Layer 1s and Layer 2s.
The IOTA EVM is set to provide a top-notch smart contract framework, offering a seamless experience comparable to the best in the crypto industry. It will provide a feeless base layer for token holders, support for tokens and NFTs on the DAG base layer, high scalability with up to 700 transactions per second, and more.
Overall, the IOTA EVM launch is expected to revolutionize the blockchain world, offering enhanced capabilities and opening up new opportunities for users.