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- As the ShimmerEVM mainnet launch looms, the native token SMR has experienced an astounding 30% spike in just one day.
- IOTA’s internal communications suggest the team is in the advanced stages of their testing phase, setting the stage for a public launch shortly after a successful closed one.
The recent spotlight on IOTA, as covered by Blockbytes, underscores IOTA’s strategic decision to tap into the lucrative billion-dollar markets. This is set to be achieved through the closed unveiling of ShimmerEVM.
Blockbytes (@blockbytescom) highlighted:
🚨 #ShimmerEVM launch may well be rapidly approaching 👀
Some top-shelf accounts you should be following for good alpha & tasty threads from around the @shimmernet & @iota Ecosystem 👇
s/o 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 discord channel suggests that despite the testnet’s promising performance, the ShimmerEVM mainnet launch has experienced delays. Dave, an IOTA team member, pinpoints these delays to in-depth testing and resolving bugs. The team’s approach of reaching out to multiple projects for dApp evaluation on the testnet led to unforeseen challenges. However, their collaborative efforts ensured a resolution to all major concerns. With these issues sorted, IOTA is gearing up for a closed launch of ShimmerEVM, setting the path for the subsequent public launch.
ShimmerEVM’s Potential to Rival Established Crypto Giants
The buzz around IOTA doesn’t stop at the ShimmerEVM launch. Speculations abound regarding ShimmerEVM’s capability to rival longstanding crypto behemoths like Bitcoin, Ethereum, and Ripple.
🚀 Bullish feels good, but a jaw-dropping 30% surge in a day? 📈😲 Hold onto your hats, #ShimmerEVM is making some noise! 🥁🎆 Brace 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 promises big things. As the first EVM-compatible smart contract chain within the Shimmer network, it ensures rapid, secure, and simultaneous smart contract processing. Its design and capabilities position ShimmerEVM as a strong contender against DeFi giants like Arbitrum and Binance Smart Chain. Impressively, the testnet has already processed more than 1.4 million transactions.
Shimmer is poised to reshape the crypto landscape with its groundbreaking features. The introduction of a parallelized DAG ledger, optimized for custom smart contract chains, is set to debut as ShimmerEVM. Its successful testnet phase is a testament to its potential. Enhanced security, zero transaction fees for L1 asset transfers, and an innovative storage deposit system only add to Shimmer’s growing appeal in the crypto domain.
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