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HomeNewsIOTA's ShimmerEVM Triumphs Over Spam Attack: Records 700 TPS Amid Assau

IOTA’s ShimmerEVM Triumphs Over Spam Attack: Records 700 TPS Amid Assau

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  • ShimmerEVM offers unparalleled features such as feeless Layer 1 asset transfers and true network-level randomization.
  • The protocol mitigates common blockchain vulnerabilities, emphasizing scalability, security, and seamless bridging capabilities without traditional bridges.

Redefining Blockchain Technology with ShimmerEVM

Web3 is the future of the internet, and at the center of this transformation stands ShimmerEVM. Nakama Labs recognizes that to thrive in the ever-evolving Web3 arena, one must adapt to multi-chain approaches. However, ShimmerEVM has caught their undivided attention, and here’s why.

A Leap Beyond Traditional Blockchains

ShimmerEVM isn’t just another blockchain; it’s a revolution. It introduces a fully Ethereum Virtual Machine (EVM) compatible smart contract chain that promises fast, secure, and scalable processing of smart contracts. Such attributes undoubtedly lure developers to migrate to ShimmerEVM, providing them a robust platform to innovate.

The protocol’s strategy involves the use of L2 chains to conquer scalability challenges. It maintains a powerful bond between L1 and L2, optimizing the network’s performance, and making room for decentralized apps (dApps) to flourish. Moreover, Shimmer’s capacity for L2 anchoring outpaces conventional blockchains, marking its place as the go-to for dApps.

Eliminating the Middlemen: Bridges

One of the remarkable things about ShimmerEVM is its approach to asset transfers. Traditional blockchain networks utilize bridges to ensure interoperability. But, as seen with the Harmony Horizon and Ronin bridge incidents, these bridges can become points of vulnerability.

ShimmerEVM presents a novel solution: remove the need for bridges altogether. By facilitating simultaneous multi-transactions and smart contract processing, assets on its L1 chain can be effortlessly bridged to any L2 smart contract chain. This eradicates the security risks posed by bridges and offers a secure, feeless environment for both developers and users.

Protecting the Ecosystem from Exploits

Miner Extractable Value (MEV) attacks threaten the integrity of blockchain networks. By taking advantage of transaction transparency, malicious entities can manipulate trades to their benefit. ShimmerEVM’s unique consensus on L2 neutralizes risks such as front-running and sandwich attacks, ensuring fairness and security.

The Power of Genuine Randomness

Every decentralized app seeks trustworthiness and reliability. ShimmerEVM’s true randomness offers dApps a heightened security level, reducing vulnerabilities. Unlike Chainlink’s Verifiable Random Function, which comes with a price tag, Shimmer provides cost-free randomization, ensuring fairness in applications like decentralized gamefi, NFTs, and gambling platforms.

The Zero-Fee Game Changer

High transaction fees have always been a bottleneck in the blockchain world. ShimmerEVM breaks this chain by offering feeless L1 asset transfers, ensuring users can move assets without a second thought about costs.

Empowering the Developers

Shimmer’s potential is truly limitless. It provides a platform where developers can craft their own WebAssembly (Wasm) or EVM smart contract chains, tailored to their distinct requirements.

Conclusion

ShimmerEVM is paving the way for a new era in the Web3 landscape, with its unmatched features and robust community backing. As more developers recognize its potential and hop on board, the future of decentralized internet looks brighter than ever.

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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
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