- The soft launch of IOTA EVM highlights unique features like feeless base layer transactions and good scalability.
- Staking benefits and ecosystem expansion make IOTA a blockchain contender despite real-world impact concerns.
With the latest soft launch, IOTA is progressing with its Ethereum Virtual Machine (EVM) integration. IOTAPoet, a fervent supporter of IOTA, confirmed this milestone, marking the beginning of a new phase of enhanced IOTA functionality.
The #IOTA EVM soft launch is upon us BABY! 🚀
Also tune in to the Community Treasury space in 15 mins! pic.twitter.com/AybLghtRhw
— IOTAPoet ✨ (@IotaPoet) March 18, 2024
Soft Launch of the IOTA EVMÂ
This platform is innovative because of its feeless token transactions, wide support for tokens and NFTs in its Directed Acyclic Graph (DAG) design, and scalability up to 700 transactions per second.
Also, SPYCE_5 seamlessly integrates appchains, creating a seamless multi-chain ecosystem without bridging fees or complexity. This forward-thinking development has demonstrated its value on the Shimmer testnet and is now prepared to be implemented on IOTA.
And then, IOTA will release its EVM on March 31, 2024. This introduction is expected to alter the Shimmer network and give users and developers new opportunities by enabling smart contracts and dApp compatibility, as ETHNews had earlier detailed. You can watch the YouTube video below for a deeper look at this development.
Involvement and Benefits for the Community
In fields such as supply chain logistics, non-fungible tokens, and decentralized finance, developers will have the ability to create cutting-edge decentralized applications (dApps) thanks to the unique feeless data transfers and cutting-edge security features offered by IOTA.
It’s known, the IOTA community is excited about the late Q1 or early Q2 2024 debut of staking on the IOTA EVM. IOTA token holders can stake their assets and gain incentives, boosting the ecosystem and participation.
On the other hand, these advancements entail drawbacks. Skeptics are curious about whether or not these advancements will translate theoretical benefits into applications and solutions that can be used in the real world.
At the time of writing, the IOTA price has dropped in the last 24 hours and 7 days, by 10.91% and 27.51%, bringing it to the $0,2824.