IOTA is preparing for a major milestone in the blockchain industry with the launch of its Ethereum Virtual Machine (EVM) integration in March. This integration will connect the IOTA network with the largest ecosystem of decentralized applications (dApps) in the world. The announcement made by IOTA Foundation chairman Dominik Schiener has created a wave of excitement within the IOTA community and beyond. While the EVM integration will have a significant impact on the entire ecosystem, it will particularly benefit the Shimmer network.
By integrating with the Ethereum network, IOTA is expanding its capabilities as a Layer 1 protocol and gaining access to thousands of dApps that are compatible with the Ethereum Virtual Machine. Ethereum has established itself as the leading platform for dApps, with 18 of the top 20 dApps and $2.4 billion in transactions processed in the past 30 days. This integration will open up new possibilities for IOTA, enhancing liquidity and interoperability within the network.
In addition to the EVM integration, Schiener also urged users to stake their IOTA tokens in order to participate in airdrops. Staking not only benefits token holders by earning them rewards, but it also contributes to the overall security of the ecosystem.
Looking ahead, the focus in the second quarter will shift towards the release of IOTA 2.0. This protocol upgrade will introduce various new features, including increased decentralization, democratic consensus, improved security against manipulation, and feeless transactions for token holders. The testnet for IOTA 2.0 is expected to be launched in Q2, with further testing on the Shimmer network before the final release on the main IOTA network.
All these developments are aimed at driving the adoption of IOTA in real-world applications, with a particular focus on tokenization. The tokenization of real-world assets is projected to be a trillion-dollar market by 2030, making it one of the most promising sectors in the blockchain industry. IOTA is actively working towards enabling the tokenization of assets and has partnered with organizations like Fireblocks to provide a comprehensive token custody solution.
Meanwhile, the price of IOTA’s token has experienced significant growth in the past week, increasing by 25% from $0.203 to $0.25. However, the momentum has slowed down in the past day, with the token trading within a narrow range and a decrease in trading volume.
In summary, IOTA’s upcoming EVM integration and the release of IOTA 2.0 are significant milestones that will enhance the network’s capabilities, boost liquidity, and drive adoption. With a focus on tokenization and strategic partnerships, IOTA is positioning itself for long-term success in the blockchain industry.
