The IOTA Foundation has been working to bring the ShimmerEVM mainnet to the market. Web3 Builder and Venture Fund Nakama Labs has recently shared an update on how it’s battle-testing the ShimmerEVM beta version by conducting some spam attacks on ShimmerEVM. The testnet chain has achieved a peak of 700 transactions per second (TPS), resulting in an impressive $250,000 per hour to sustain this attack on the mainnet.ShimmerEVM is a Layer 1 solution that processes transactions and contracts concurrently, ditching bridges for safer operations. It also supports much greater L2 anchoring than standard blockchains, enabling significantly higher scalability. It also offers feeless L1 transfers, transforming the scene and enabling seamless transactions. Additionally, it enhances responsible storage with a deposit system, curbing spam and boosting efficiency.The IOTA development team has been diligently developing the Shimmer Ethereum Virtual Machine (EVM), which has already been launched as a testnet version in the market. Nakama Labs noted that Shimmer isn’t just about scalability or fast tx, it’s a perfect fit for a vast Web3 ecosystem. With EVM at its foundation with unique features, it empowers creators to bring their innovative ideas to life.

Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	8
People	Nakama Labs, Harmony Horizon Bridge, Ronin bridge, ShimmerEVM, IOTA Foundation
Companies	IOTA Foundation, Nakama Labs, ShimmerEVM, Arbitrum, Binance Smart Chain
Currencies	SMR, Bitcoin, Ethereum, IOTA
Securities	None