The native token SMR has witnessed an impressive surge of 30% in just one day as the ShimmerEVM mainnet launch approaches. Internal communications within IOTA indicate that the team is in the advanced stages of testing, paving the way for a public launch following a successful closed one.
Blockbytes, in their coverage of IOTA, highlights the strategic decision made by IOTA to tap into the billion-dollar markets. This will be accomplished through the closed unveiling of ShimmerEVM. They also recommend following certain accounts for insights and updates on the ShimmerNet and IOTA ecosystem.
Insider information from IOTA’s internal discord channel reveals that the mainnet launch of ShimmerEVM has experienced delays despite the promising performance of the testnet. Dave, a member of the IOTA team, attributes these delays to thorough testing and bug resolution. The team’s collaborative efforts in seeking input from various projects for dApp evaluation on the testnet presented unexpected challenges, but they managed to address all major concerns. With these issues resolved, IOTA is preparing for a closed launch of ShimmerEVM, paving the way for a subsequent public launch.
The excitement surrounding IOTA extends beyond the ShimmerEVM launch, with speculations emerging about its potential to rival established crypto giants such as Bitcoin, Ethereum, and Ripple. Collin Brown highlights the significant 30% surge in a single day, emphasizing the impact of ShimmerEVM and encouraging IOTA and Shimmer enthusiasts to engage with the post.
The ShimmerEVM testnet already holds immense promise as the first EVM-compatible smart contract chain within the Shimmer network. It ensures fast, secure, and simultaneous processing of smart contracts. Its design and capabilities position ShimmerEVM as a formidable competitor to DeFi giants like Arbitrum and Binance Smart Chain. Impressively, the testnet has already processed over 1.4 million transactions.
Shimmer is poised to redefine the crypto landscape with its groundbreaking features. The introduction of a parallelized DAG ledger optimized for custom smart contract chains will debut as ShimmerEVM. The success of its testnet phase underscores its potential. Enhanced security, zero transaction fees for L1 asset transfers, and an innovative storage deposit system further contribute to Shimmer’s growing appeal in the crypto domain.
