HomeNewsIOTA partners with Multichain to enable cross-chain interoperability with Shimmer, Bitcoin, Ethereum,...

IOTA partners with Multichain to enable cross-chain interoperability with Shimmer, Bitcoin, Ethereum, and other ecosystems

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  • Shimmer has partnered with Multichain, a cross-chain router protocol, to enable seamless interoperability between ShimmerEVM and other networks.
  • The partnership will allow Shimmer and IOTA tokens to be bridged between the two ecosystems, with future cross-chain solutions between ShimmerEVM and other major blockchains supported by Multichain.

Shimmer has announced a strategic partnership with Multichain, a cross-chain router protocol for Web3 interoperability. This will enable seamless interoperability between the IOTA and Shimmer networks after the upcoming launch of the ShimmerEVM.

Multichain will provide a bridge for Shimmer and IOTA tokens to be transferred between the two networks. This integration will allow IOTA holders to gain access to the fast-growing Shimmer ecosystem, with investment opportunities to earn yield on their IOTA tokens through staking, yield-farming, and more. Furthermore, Multichain will support Shimmer with a cross-chain interoperability solution between the upcoming ShimmerEVM chain and supported blockchains in the Multichain ecosystem.

ShimmerEVM Testnet Showcases Multichain’s Potential With the recent launch of the ShimmerEVM testnet, users will be given a glimpse of the potential utility of Multichain. The testnet tokens will be easily transferable between the IOTA and ShimmerEVM testnet, and the test bridge will also showcase smooth transfers between ShimmerEVM and other EVM chains.

This integration will contribute vastly to the growth of the Shimmer and IOTA ecosystem by providing a vivid cross-chain infrastructure that will open up access to decentralized finance on all major blockchain protocols supported by the Multichain router.

Multichain connecting every blockchain and the world

Multichain is a cross-chain router protocol that aims to cater to the needs of different and diverse blockchains by providing seamless interoperability solutions through their cross-chain bridge and router. With its smart contract function anyCall, Multichain enables cross-chain messaging and contract calling.

It supports all ECDSA and EdDSA encrypted chains and is almost universally applicable as an interoperability layer. With 56 supported EVM and non-EVM chains and more than 2460 integrated projects, Multichain has established itself as an industry-leading cross-chain router protocol with a continuously expanding ecosystem.

Shimmer is the future of IoT and Blockchain

Shimmer is an L1 innovation network providing the core building blocks for a scalable, modular multi-chain architecture. It is built on a UTXO-based parallelized DAG ledger, which guarantees higher scalability than conventional blockchains while ensuring the interoperability and composability of L2 smart contract chains anchored to it.

With its unique tokenization framework, Shimmer will become a multi-asset ledger for feeless minting and transfer of native assets without middlemen or crippling gas fees. Shimmer eliminates the need for bridges for all L2 networks anchored to it, but it is essential to recognize that no network is an island. Connecting the ShimmerEVM to different smart contract chains outside its ecosystem provides a seamless user experience.

The partnership between Shimmer and Multichain provides a winning solution in the field of cross-chain security. Follow Shimmer and Multichain on Twitter to stay tuned for more information on this exciting collaboration.

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Godfrey Benjamin
Godfrey Benjamin
Godfrey Benjamin is an experienced crypto journalist whose primary goal is to educate everyone about the prospects of Web 3.0. His love for crypto was sparked during his time as a former banker when he recognized the clear advantages of decentralized money over traditional payments. Business Email: info@ethnews.com Phone: +49 160 92211628