As the launch of the ShimmerEVM mainnet approaches, the native token SMR has seen an impressive 30% increase in value in just one day.
Internal communications within IOTA indicate that the team is in the advanced stages of testing, paving the way for a public launch shortly after a successful closed one.
The recent attention on IOTA, as reported by Blockbytes, highlights IOTA’s strategic decision to enter the billion-dollar markets. This will be achieved through the closed unveiling of ShimmerEVM.
Blockbytes (@blockbytescom) emphasized:
#ShimmerEVM
launch may be rapidly approaching
Here are some top accounts to follow for valuable insights and discussions about the
@shimmernet
&
@iota
Ecosystem
Shoutout to other
$SMR
|
$IOTA
legends below
pic.twitter.com/rjYpF7Rjtk
— Blockbytes (@blockbytescom)
September 6, 2023
IOTA’s Strategic Move into Billion-Dollar Markets with ShimmerEVM
Insider information from IOTA’s internal communication channel suggests that the ShimmerEVM mainnet launch has experienced delays despite the promising performance of the testnet. Dave, a member of the IOTA team, attributes these delays to extensive testing and bug resolution. The team’s collaborative approach of involving multiple projects for dApp evaluation on the testnet posed unforeseen challenges. However, their joint efforts ensured that all major concerns were addressed. With these issues resolved, IOTA is now preparing for a closed launch of ShimmerEVM, paving the way for the subsequent public launch.
ShimmerEVM’s Potential to Compete with Established Crypto Giants
The excitement surrounding IOTA extends beyond the launch of ShimmerEVM. Speculations are rife about ShimmerEVM’s potential to rival well-established cryptocurrencies like Bitcoin, Ethereum, and Ripple.
Collin Brown (@CollinBrownXRP) highlighted:
Bullish feels good, but a jaw-dropping 30% surge in a day? Hold on tight,
#ShimmerEVM
is making some noise! Brace yourself for the
#Shimmer
storm!
#IOTA
#CryptoSurge
Retweet, like, and comment for all IOTA and Shimmer fans!
pic.twitter.com/aXB6M9Vxcq
— Collin Brown (@CollinBrownXRP)
September 7, 2023
The ShimmerEVM testnet already shows great promise. As the first EVM-compatible smart contract chain within the Shimmer network, it ensures fast, secure, and simultaneous processing of smart contracts. Its design and capabilities position ShimmerEVM as a strong competitor against DeFi giants like Arbitrum and Binance Smart Chain. Impressively, the testnet has already processed over 1.4 million transactions.
Shimmer is poised to revolutionize the cryptocurrency landscape with its groundbreaking features. The introduction of a parallelized DAG ledger, optimized for custom smart contract chains, will be unveiled as ShimmerEVM. The successful testnet phase serves as a testament to its potential. Enhanced security, zero transaction fees for L1 asset transfers, and an innovative storage deposit system further contribute to Shimmer’s growing appeal in the crypto industry.
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