important point

  • The IOTA Foundation has launched its ShimmerEVM testnet on the Shimmer testnet.

  • The ShimmerEVM chain is expected to boost the DeFi ecosystem of the IOTA network.

  • The IOTA project can try out the test chain and provide feedback before mainnet launch.

IOTA Launches ShimmerEVM Test Chain on Shimmer Testnet

The IOTA Foundation, the non-profit behind the IOTA Distributed Ledger Technology (DLT), has announced the launch of the ShimmerEVM test chain on the Shimmer testnet.

In a press release shared with Coinjournal, the Foundation said this public testing period is an important next step in development ahead of the long-awaited ShimmerEVM launch.

Extensive testing of the ShimmerEVM test chain, contributed by multiple validators and dozens of dApps, will improve the resilience, performance, and security of the planned ShimmerEVM smart contract chain, according to the team.

The test chain includes several significant updates to consensus modules, node software, and enhanced EVM compatibility.

IOTA’s ShimmerEVM chain to boost the network’s DeFi ecosystem

The IOTA Foundation is optimistic that the ShimmerEVM chain will boost the network’s DeFi ecosystem.

The team notes that the testnet will extend the reach of the Shimmer protocol to a wider community of blockchain developers building EVM-compatible smart contracts and laying the foundation for ShimmerEVM’s bridgeless and seamless interoperability. bottom.

The IOTA Foundation added that ShimmerEVM’s enhanced EVM compatibility is thanks to “magic smart contracts” that are automatically provided on every IOTA smart contract chain.

The team explained that Magic smart contracts enable seamless, bridgeless, native asset transfer between Shimmer L1 and EVM chains. This eliminates the need to create custom bridges within the Shimmer ecosystem.

The ShimmerEVM testnet chain is now ready for the public testnet phase following extensive internal testing to ensure network security.

While commenting on this latest cryptocurrency newsDominik Schiener, co-founder and chairman of the IOTA Foundation, said:

“We want the highly interoperable and scalable Shimmer protocol to be accessible to the wider community of blockchain developers, which is only possible through additional EVM compatibility. It took a lot of testing and validation internally to do it well and reliably, but like all projects we rely on a dedicated community to improve the ShimmerEVM chain, so we made the testnet public. We are continuously making new improvements, so by the time the “real” ShimmerEVM is ready to launch, it will be more sophisticated. This testnet is an important step towards rolling out future ecosystem projects on both Shimmer and IOTA. ”

The public testnet will give numerous IOTA community projects an opportunity to try out the chain and provide feedback to the IOTA team.

IOTA, the ecosystem’s native coin, has been performing well over the past few hours. When pressing iota price is $0.2121, up more than 5% over the last 24 hours.

By Jules

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