The upcoming launch of the IOTA EVM, supported by Shimmer’s infrastructure, represents a groundbreaking advancement in blockchain technology. Recent upgrades to the infrastructure and the introduction of new tools promise to enhance the functionality and adoption of the IOTA EVM.
The IOTA technical team has been making significant progress in developing their infrastructure, which is crucial for fostering growth and innovation within the ecosystem. Shimmer, as a standalone Layer 1 network, has played a vital role in driving IOTA’s technological evolution by being the first to test, release, and validate major protocol upgrades.
Following the success of ShimmerEVM, the release of the IOTA EVM is expected to revolutionize the network. This phase will introduce IOTA 2.0, featuring sustainable tokenomics and improved programmability, further solidifying its position in the evolving Web3 environment.
In terms of current progress and future outlook, the IOTA team has implemented new price pusher services for Oracle providers, ensuring more regular and accurate updates to the blockchain. They are also deploying global RPC nodes to support essential Subgraph Services within the ecosystem. These developments are crucial for the ongoing growth and functionality of the IOTA EVM, positioning it for broader adoption and deployment.
Further details on these infrastructure enhancements can be found in a recent tweet by the IOTA team. The enhancements include newly established services for Oracle providers to ensure consistent transmission of price updates, the deployment of global distributed nodes to expand the network’s reach and reliability, and the readiness of Subgraph Services that depend on the operational status of PC nodes.
The launch of an independent IOTA EVM testnet aims to simplify the integration process for new teams, providing a focused development environment separate from the existing Shimmer-related testnet. Integration with the Gnosis Safe MultiSignature Wallet is also complete, paving the way for builders to securely and effectively deploy their contracts and applications on the IOTA EVM.
These advancements demonstrate significant progress in infrastructure and tools necessary for the IOTA EVM’s deployment readiness. Stakeholders are encouraged to prepare for the new opportunities that these innovations will bring to the blockchain community.
However, it is important to note that despite the success of ShimmerEVM and the advancements made, IOTA’s market value has experienced a significant decline. The market value has decreased by 40.63% overall and 26.43% over the past week, with current prices at $0.2221. This highlights the volatile nature of the crypto market and emphasizes the need for ongoing innovation and adaptation.
In conclusion, the upcoming launch of the IOTA EVM, supported by Shimmer’s infrastructure, along with recent upgrades and developments, signifies a significant advancement in blockchain technology. These advancements are crucial for the growth and functionality of the IOTA EVM, and stakeholders are advised to embrace the new opportunities they bring. However, it is important to remain aware of the volatile nature of the crypto market and the need for ongoing innovation in this space.