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IOTA’s ShimmerEVM About to Hit the Market – Get Set for a Potential 30% SMR Profit Opportunity

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  • IOTA is gearing up for the closed launch of ShimmerEVM, the last step before the public release.
  • The ShimmerEVM testnet has already demonstrated its prowess by processing over 1.4 million transactions.

Testing and Collaboration

The delays leading up to this moment were not in vain but were driven by a commitment to quality. Dave, a member of the IOTA team, cited testing and bug fixing as the primary reasons for the delays. Despite the slower progress during the summer, the team embarked on a comprehensive outreach initiative. They invited various projects scheduled for launch to rigorously test their decentralized applications (dApps) on the ShimmerEVM testnet.

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This initiative served a dual purpose. First, it sought valuable feedback on the testnet’s readiness for launch. Second, it provided an opportunity to identify and address any challenges. Dave acknowledged that these interactions took longer than expected, but the collaboration yielded fruitful results.

Closed Launch Preparations

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With the major concerns addressed, the IOTA team is now making final adjustments and preparations for a closed launch of ShimmerEVM. This strategic move will involve setting up infrastructure, indexation services, explorers, and more. Importantly, it will allow launching projects to deploy their dApps and conduct final tests. Following the closed launch’s success, the public launch of ShimmerEVM will follow suit in a matter of weeks.

ShimmerEVM Testnet Performance

The ShimmerEVM testnet has been a star performer since its inception. This chain introduces an EVM-compatible smart contract chain within the Shimmer network, offering rapid, secure, and parallel processing of smart contracts on a scalable platform.

What sets ShimmerEVM apart is its ability to compete with established DeFi players like Arbitrum and Binance Smart Chain. Notably, Shimmer has introduced a monitoring platform to assess ShimmerEVM’s performance. Impressively, the testnet has already handled over 1.4 million transactions, solidifying its potential in the DeFi arena.

Shimmer’s Promise

Shimmer brings more than just performance to the table. It introduces a parallelized DAG ledger for customizable smart contract chains compatible with EVM, a milestone soon to be realized with ShimmerEVM. The successful public testnet phase underscores its potential.

Shimmer facilitates seamless asset transfers between Shimmer L1 and EVM chains, enhances smart contract chain resilience and performance, eliminates the need for bridges, bolsters security, and guards against miner extractable value attacks. Features like true randomness and zero fees for L1 asset transfers further simplify transactions, while a storage deposit mechanism promotes responsible data handling, boosting throughput and reducing congestion.

In conclusion, IOTA’s ShimmerEVM is not just a technological advancement; it’s a catalyst for entering the billion-dollar markets of decentralized finance. Its imminent closed launch heralds an exciting era for IOTA and the wider blockchain community.

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Collin Brown
Collin Brown
Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.
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