IOTA to Unleash the Beast: Closed Launch of ShimmerEVM Released, Unlocking Access to Billion-Dollar Markets

• The IOTA team is working on the closed launch of ShimmerEVM which will be the final one before the public launch.
• So far, the ShimmerEVM testnet has already processed more than a total of 1.4 million transactions.

In an internal communication on the discord channel, IOTA’s team members have shared the progress with the mainnet launch of the ShimmerEVM. The launch of the ShimmerEVM mainnet has seen multiple delays despite the robust performance exhibited by the ShimmerEVM testnet.

IOTA team member Dave explains that this delay has been primarily due to testing and bug fixing. He also admits to the slower progress made this summer. Ahead of this summer, the IOTA team members reached out to multiple projects slated for launch, while asking them to test their dApps extensively on the testnet.

This exercise was basically aimed at seeking feedback on the testnet’s state and its readiness for launch. However, this feedback took longer than expected as the project encountered different challenges. However, Dave notes that the collaborative efforts of the team members have them overcome all the major concerns.

Also, most of these projects expressed satisfaction with the current state. The IOTA team members conducted the testing under both – individually as well as under heavy congestion. Dave added that the team is now making some final adjustments as tests. Interestingly, they also plan to coordinate a closed launch of ShimmerEVM very shortly.

This would allow them to set up the infrastructure, indexation services, explorer, etc. Besides. it would also allow the launching projects to deploy their deployments and final tests. The public launch of ShimmerEVM will follow a few weeks after the successfully closed launch.

ShimmerEVM Testnet Performance

The ShimmerEVM testnet has delivered a pretty strong performance ever since going live. The ShimmerEVM testnet chain marks the debut of an EVM-compatible smart contract chain within the Shimmer network. This innovative chain offers rapid, secure, and parallel processing of smart contracts on a scalable platform.

Equipped with these capabilities, ShimmerEVM is poised to compete with established players like Arbitrum and Binance Smart Chain in the decentralized finance (DeFi) arena. Shimmer has also unveiled a new monitoring platform to check the performance of ShimmerEVM. So far, the ShimmerEVM testnet has already processed more than a total of 1.4 million transactions.

Shimmer is generating excitement for several reasons. It introduces a parallelized DAG ledger for customizable smart contract chains, compatible with EVM, which is about to launch as ShimmerEVM. A successful public testnet phase confirms its potential. It enables seamless asset transfers between Shimmer L1 and EVM chains while offering improved smart contract chain resilience and performance.

Other benefits of Shimmer include the elimination of bridges enhanced security, and guarding against miner extractable value attacks. True randomness adds a layer of security, and zero fees for L1 asset transfers simplify transactions. A storage deposit mechanism promotes responsible data handling, boosting throughput and reducing congestion.