IOTA has unveiled ShimmerEVM, a groundbreaking update that bridges the gap between Ethereum applications and the IOTA network. This integration allows assets to be transferred between EVM (Ethereum Virtual Machine) chains and the Shimmer network without the need for bridges, which have proven to be vulnerable in the past. The native token SMR ensures smooth transactions and provides a robust defense mechanism against spam attacks with its memory deposit feature. This has resulted in an 8% growth in token value over the last week. The launch of ShimmerEVM brings IOTA closer to achieving its ‘Coordicide’ milestone, a move towards decentralizing the central control entity. Dominik Schiener, in a discussion with BTC-ECHO, stated that post ShimmerEVM launch, the initial ‘Coordicide’ modules will be integrated within Shimmer. Shimmer network, the staging network for IOTA, serves as a testing ground for perfecting core protocol improvements before they are amalgamated into the IOTA network. This allows for the development and implementation of dApps (decentralized applications). ShimmerEVM runs on the latest version of IOTA Smart Contracts (ISC), inheriting a range of features that have been crafted and honed over time. This includes EVM compatibility and MEV (Miner Extractable Value) protection. The launch of ShimmerEVM marks a pivotal moment in the blockchain narrative, as it opens the gateway to a new dimension of cross-chain smart contract interactions. The combination of Ethereum and IOTA through ShimmerEVM holds the promise of unlocking unexplored potentials in blockchain technology.

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Information	Details
Geography	Global
Countries
Sentiment	positive
Relevance Score	9
People	Dominik Schiener
Companies	Ethereum, BTC-ECHO, IOTA, Arbitrum, Binance Smart Chain
Currencies	Ethereum, IOTA, Shimmer, Bitcoin
Securities	None