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- The IOTA Stardust upgrade will allow anyone to mint their own tokens or NFTs on Layer 1.
- IOTA’s Firefly wallet is set to get major upgrades such as a governance tab, Voting Power Management, automatic proposal registration, and much more.
2023 could prove to be game-changing for the IOTA ecosystem as developers are working on some of the major updates for IOTA ahead this year. Among the many, the top ones are the launch of Shimmer EVM as well as the much-awaited IOTA 2.0. Let’s take a look at all the updates scheduled ahead this year within the IOTA ecosystem.
1/7 🚀 IOTA 2023 upcoming updates
As we kick off 2023, (i know it's already march) it's time to talk about #IOTA and why this year will be critical.
Here are my top excepted releases for this year… #crypto pic.twitter.com/k0GhfrCl2E
— moon 🌝 (@moonbaklava) February 20, 2023
The most recently awaited is the launch of the ShimmerEVM scheduled in the first quarter of this year. Developers have been testing ShimmerEVM testsnet rigorously. IOTA launched the Shimmer network last year in September 2022. So far, it has already managed to host more than 100 projects on the platform.
The launch of the Shimmer EVM will drastically improve the network utility catering to different market use cases such as DeFi, NFTs, and much more. Besides, ShimmerEVM will also make it possible to exchange value from Layer 1 to Layer 2.
Another major upgrade ahead in the line is IOTA Stardust which will transform the IOTA blockchain into a multi-ledger asset. As a result, the Stardust upgrade will allow anyone to mint their own tokens or NFTs on Layer 1. Besides, it would also allow the effective interaction of Layer-2 smart contract chains with L1. This would effectively turn the base later into a trustless bridge between L2 smart contract networks.
Also, other big projects like BUILDAVERSE and TangleSea will release after their own tests on Shimmer on IOTA.
Firefly Wallet Development
IOTA’s native crypto wallet Firefly is all set to get stronger. The new and upgraded versions of Firefly will have features such as Minting, displaying, sending NFTs and Tokens to L1 | L2 networks + voting/governance.
The recently launched Firefly Shimmer (v2.1.0) wallet introduces new features such as government support as well as an NFT gallery. The Firefly Shimmer (v2.1.0) has a governance tab, Voting Power Management, automatic proposal registration, registering proposals through deep links & manually, proposal filtering, sorting, and searching, as well as governance activities.
Besides, by using this wallet, users will be able to mint L1 tokens, create native NFTs, vote on the proposal based on their token holdings, create Alias Outputs, as well as use deep links. However, all these features will come to Firefly ahead this year with the Stardust upgrade.
Twitter handle Moon Bakalava adds:
The #IOTA foundation shifted its resources mainly to R&D. That’s why new companies formed out of the foundation. Excitingly, we can expect to see more companies emerging with a focus on making IOTA services more accessible to the public!
Lastly, the much-awaited IOTA 2.0 shall go live by mid-2023 and will host a feeless architecture with the ability to process several thousand transactions within seconds. With IOTA 2.0, new business models will be able to leverage micro-transactions.
