HomeNewsIOTA's ShimmerEVM Emerges: Closed Launch Opens Gateway to Billion-Dollar Markets

IOTA’s ShimmerEVM Emerges: Closed Launch Opens Gateway to Billion-Dollar Markets

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  • Shimmer Network announces the imminent launch of its EVM-compatible parallelized DAG ledger for smart contracts, boasting zero fees on L1 asset transfers and enhanced security features.
  • The network also highlights its vibrant, inclusive community and a range of features that enhance developer experience and promote responsible data storage.

Elevating the Smart Contract Ecosystem

In a move that could redefine the smart contract landscape, Shimmer Network has announced its imminent ShimmerEVM launch. This breakthrough offers a parallelized Directed Acyclic Graph (DAG) ledger optimized for fully customizable smart contract chains. For the uninitiated, a DAG ledger offers more flexibility and scalability compared to traditional blockchains, making it ideal for complex smart contracts.

Besides being compatible with the Ethereum Virtual Machine (EVM), Shimmer Network is distinguishing itself by offering zero fees on Layer 1 (L1) asset transfers—a significant boon for developers and end-users alike.

The network places a strong emphasis on security. It features Miner Extractable Value (MEV) protection, essentially safeguarding against value extraction attacks that have plagued other platforms. Another notable feature is the elimination of bridges, which enhances both security and resilience in asset transfers.

On the developmental front, the network offers an OpenAPI specification for easy documentation generation, promising an elevated experience for developers. Additionally, the network’s storage deposit mechanism encourages responsible data storage while its extended UTXO model opens doors for unique output types, including NFTs that function as standalone wallets.

Shimmer Network’s approach extends beyond technology; its ethos embodies community-driven development and an environmentally-conscious consensus mechanism. With a robust, audited range of projects ready for launch, Shimmer seems poised to set a new standard in the ever-evolving smart contract arena.

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Marcel Knobloch
Marcel Knobloch
Marcel is the managing partner of ETHNews and is also known as Collin Brown in the crypto community. He is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Marcel endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Marcel's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Marcel's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Marcel continues to be a driving force in the cryptocurrency community. Business Email: marcel.knobloch@hotmail.com Phone: +49 160 92211628