- 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.
We did it again: Another spam attack on #ShimmerEVM! 👀@shimmernet's prowess shines as we hit 700 TPS at its peak, translating to a staggering $250k per hour to keep up this attack on the mainnet.
Devs, join the battle to prep Shimmer #EVM for its launch! pic.twitter.com/AFqkbpPlgR
— Nakama Labs (@Nakama_Labs) August 23, 2023
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.
