The IOTA Foundation had a productive fourth quarter in 2023, with several teams achieving significant milestones. The Foundation’s progress towards IOTA 2.0 was outlined in its Q4 report, which also highlighted major plans for the first quarter of the following year.

Among the major advancements were the IOTA 2.0 introduction campaign, the establishment of the first distributed ledger technology (DLT) foundation under the UAE authorities, and the launch of ShimmerEVM. ShimmerEVM, launched in the last week of Q3, had a significant impact in Q4. The community has supported ShimmerEVM since its inception, and it has grown in transaction volume and user numbers, becoming one of the top five growing EVM chains by total volume locked in its first month.

ShimmerEVM has achieved impressive results in a short period, with 7500 active accounts, over 1.5 million completed transactions, and over 2600 smart contracts deployed on the chain. ShimmerEVM also opens the doors to the Ethereum ecosystem for IOTA’s sister network, Shimmer, offering a seamless bridge between the two ecosystems.

On the wallet side, Firefly IOTA 2.0.0 was launched in Q4, supporting the Mainnet Stardust upgrade and encompassing NFTs, native tokens, and other developer tools.

Significant strides were made in core protocol research in Q4. The Incentives Working Group finalized the Tokenomics Whitepaper and released the Mana Calculator, allowing users to simulate Mana generation, delegation, and staking scenarios. The Congestion Control Working Group fine-tuned the Mana Cost parameters and incorporated a secondary buffer to optimize validation block rules. The Parameter Taskforce merged with the Tangle Dynamics Research Working Group, and they are now working on aspects related to consensus, such as validation blocks.

Other developments included adapting ISC to the IOTA 2.0 upgrade and integrating Move VM and RISC Zero. On the regulatory side, the IOTA Ecosystem DLT Foundation registered in the UAE with the Abu Dhabi Global Market (ADGM), becoming the first to attain this registration under the Gulf country’s new regulatory regime. With $160 million in funding, the Foundation is mandated to expand IOTA’s ecosystem in Africa, Asia, and the Middle East.

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This News Article was automatically generated by Bob the Bot (AI)

Information Details
Geography Middle East
Countries 🇦🇪
Sentiment positive
Relevance Score 1
People Marcel Knobloch
Companies ShimmerEVM, Abu Dhabi Global Market, IOTA Foundation
Currencies IOTA
Securities None

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