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HomeCryptocurrencyIOTA Launches ShimmerEVM Test Chain, approaching Full DeFi Ecosystem

IOTA Launches ShimmerEVM Test Chain, approaching Full DeFi Ecosystem

IOTA, the open, feeless, and highly scalable distributed ledger technology (DLT) for the digital economy, has announced the launch of the ShimmerEVM test chain.

According to the press release recently shared with Times Tabloid, this marks an important step forward for the company in developing a full decentralized finance (DeFi) ecosystem.

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Following the launch of Shimmer last September, IOTA’s incentivized staging network is now in its testing period to improve its resilience, performance, and security ahead of the full ShimmerEVM smart contract launch.

The launch of this new test chain will expand the reach of the Shimmer protocol to a wider community of blockchain developers who build EVM-compatible smart contracts, and build the foundation for the bridgeless and seamless interoperability nature of ShimmerEVM.

Multiple validators and dozens of decentralized applications (dApps) will contribute to this testing phase, providing IOTA with ongoing feedback to improve the network.

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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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