IOTA Launches EVM Integration for Enhanced Network Capabilities
The IOTA Foundation has introduced IOTA EVM, a Layer 2 solution merging smart contracts with the IOTA network.
Following earlier EVM development on Shimmer in 2023, this release marks a culmination of extensive enhancements and testing.
✨IOTA’s #EVM Mainnet Unleashed✨ Today marks a significant milestone for #RWA and real utility: the launch of #IOTAEVM, a fully EVM-compatible Layer 2 solution for the #IOTA network. Dive into it here, or check the 🧵⤵️🔗https://t.co/w7yghhSI8F pic.twitter.com/JvMEFVtlPw
— IOTA (@iota) June 4, 2024
IOTA EVM brings notable enhancements to the network, including parallel processing enabled by its Layer 1 protocol architecture. This feature enhances scalability across multiple chains and promotes smoother interactions within the ecosystem, supporting both EVM and non-EVM chains.
Moreover, the platform emphasizes fairness and security with native randomness and resistance to Miner Extractable Value (MEV), crucial for maintaining market integrity. Notably, the launch is credited to collaborations with LayerZero, Stargate Finance, Pyth Network, and Supra.
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In tandem with its EVM launch, IOTA’s recent partnerships with global entities like the World Economic Forum and the Tony Blair Institute for Global Change underscore its commitment to real-world adoption. These collaborations aim to revolutionize sectors by bridging traditional industries with blockchain solutions, as seen in the Trade Logistics Information Pipeline (TLIP).
TLIP, a game-changer in international trade, replaces physical trade certificate stamps with immutable digital equivalents. Leveraging IOTA’s DLT, TLIP ensures document authenticity and establishes a secure global trade ecosystem.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
