The IOTA Foundation has officially soft-launched the IOTA EVM, setting the stage for its full launch later this month. This launch is expected to be a game-changer, as it will enable the deployment of smart contracts, feeless token implementation, and high scalability with over 700 transactions per second.
Susanne Krone, the Head of Ecosystem at the IOTA Foundation, announced the soft launch on Monday, emphasizing the careful phased roll-out process that will involve working closely with the builders’ community to establish the necessary infrastructure.
Integrating the Ethereum Virtual Machine (EVM) into the IOTA ecosystem has been highly anticipated. The first integration occurred on Shimmer, the staging network for the IOTA mainnet, and it was a resounding success with fast transactions and low fees.
The next stage was integrating the EVM into the mainnet, a step that the community has eagerly awaited for months. Founder Dom Schiener previously mentioned a target launch date of March 31 for the EVM capabilities. The soft launch allows the community to test out some functionalities before the full launch.
While the end of March has been tentatively given as the date for the full launch, the official date will be announced later, taking into consideration the readiness of the infrastructure, alignment with the builders’ community, and optimal timing for future activities and announcements.
The integration of the EVM on IOTA is expected to be a game-changer in the blockchain world. With millions of dollars locked on ShimmerEVM, the demand for EVM capabilities on IOTA is high. It will provide a feeless base layer on IOTA’s directed acyclic graph (DAG) infrastructure for token and NFT holders. Additionally, IOTA’s scalability will allow for high throughput of up to 700 transactions per second. Appchains can further enhance scalability, with solutions like SPYCE 5 enabling quick deployment.
One notable advantage of the IOTA EVM is the elimination of third-party risk when transferring assets. All assets, whether native coins or NFTs, can be transferred without the need for any bridge between Layer 1s and Layer 2s.
The IOTA Smart Contract framework, integrated with the EVM, is expected to offer a top-notch experience comparable to the best in the crypto industry. The benefits include a feeless base layer for token holders, support for tokens and NFTs on the base layer, high scalability with up to 700 transactions per second, and more.
Overall, the IOTA EVM launch is poised to revolutionize the blockchain world and create new opportunities, connectivity, and interoperability.