The IOTA network is preparing to launch the first public IOTA Smart Contracts (ISC) and a related token on Thursday, according to developers. These contracts will be published on ShimmerEVM, an Ethereum compatible blockchain.
ShimmerEVM is described as part of Shimmer, an IOTA ecosystem blockchain that allows developers to build applications and use features not yet available on the IOTA mainnet. This allows developers to test their applications before porting them to the main IOTA network.
Introduced in 2022, Shimmer is a separate blockchain network with its own SMR tokens. The term EVM stands for an Ethereum Virtual Machine, which is the software environment where all Ethereum accounts and smart contracts reside.
According to the developers, ShimmerEVM aims to increase the appeal of IOTA among developers and users.
Users will be able to send SMR tokens and, in the future, NFTs and custom Native Assets to ShimmerEVM via Firefly without the need for a custom bridge.
The project, which was once one of the largest cryptocurrency ecosystems, currently ranks 78th among the largest cryptocurrencies with a market value of $424 million.
*This is not investment advice.
