The two major things of focus for the IOTA Foundation are the launch of ShimmerEVM as well as IOTA 2.0.
Shimmer network’s native cryptocurrency SMR token is soon coming to one of the world’s biggest crypto exchanges BitPanda.
The team at IOTA Foundation has been actively working on some key developments and the launch of IOTA 2.0 is likely to happen in the second half of the year. Since the beginning of 2023, there have been some exciting developments taking place in IOTA.
One of the key developments is in line with the Shimmer ecosystem which seeks to become a decentralized financial ecosystem and compete with other scalable blockchain platforms in the market.
The Shimmer blockchain basically serves as a test network to try new innovations and experiments before pushing them to the IOTA mainnet. Thus, Shimmer will test and confirm IOTA’s technical roadmap. It will test all the fundamental protocol upgrades and functionality upgrades.
Currently, the team at IOTA is focusing on finalizing the GoShimmer testnet as well as working on the launch of ShimmerEVM. The ShimmerEVM seeks to improve the network utility significantly for DeFi, NFTs, and much more. Besides, it will also ensure efficient value transfer between Layer 1 and Layer 2.
Among other smart contract networks, the Shimmer network seeks to become the one with the lowest fees for execution. Following the ShimmerEVM launch, the IOTA 2.0 launch is the next big thing in the line. IOTA 2.0 will provide significantly improved tokenomics for the IOTA blockchain.
Shimmer’s native cryptocurrency SMR token
The Shimmer network has its own native token SMR and will be used for the settlement of execution fees on smart contract chains. In the latest development, the SMR token has come to one of the biggest cryptocurrency exchanges BitPanda. This development is likely to give the SMR tokens massive liquidity going ahead.
IOTA’s lead developer Dominik Schiener also praised this development noting:
Shimmer is coming to @bitpanda. Very excited that one of the leading Crypto investment platforms in Europe (and the World) is making $SMR available to their users.
IOTA and partners
The IOTA Foundation has been working with some of the key global firms towards some ground-breaking initiatives such as peer-to-peer electricity power sharing and on the subject of carbon credits and sustainable solutions.
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Recently, IOTA joined hands with Dell Technologies to provide sustainable energy to the future’s digital cities. With an ISS-enabled infrastructure, Dell is planning to transform the urban mobility landscape and deliver cost-effective paths for effective traffic management. The solution takes a combined approach with analytics, video recording, and control center modules running on a dedicated computing environment.
Furthermore, IOTA and Dell have also been working on Project Alvarium, which is an open-source project. The two players will focus on enabling trust and data for applications, industries, and businesses.
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