Main navigation

IOTA's Shimmer EVM Testnet Reaches Remarkable Milestones Weeks After Launch

Thu, 04/27/2023 - 15:45
article image
Tomiwabold Olajide
Launch of Shimmer EVM on testnet precedes its highly anticipated release on Shimmer network
IOTA's Shimmer EVM Testnet Reaches Remarkable Milestones Weeks After Launch
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

The Shimmer EVM testnet, which went live in late March, has set remarkable milestones. The Shimmer Network posted a tweet celebrating the milestones.

Remarkably, the Shimmer EVM testnet has hit 1 million transactions with over 38,000 wallet addresses. Also, over 2,200 smart contracts have been deployed.

Dominik Schiener, the IOTA co-founder, took to Twitter to celebrate the milestone. "1 million transactions on the Shimmer EVM in less than 1 month, big milestone that shows the resilience, speed, and reliability of the network," Schiener tweeted.

On March 29, the Shimmer EVM test chain launched on the Shimmer testnet. The EVM chain on the testnet represented a key step in expanding the reach of the interoperable Shimmer protocol to a broader community of blockchain users and developers who build EVM-compatible smart contracts.

IOTA's Shimmer Token Records 19,000% Rise in Market Value Shortly After Launch

The launch of Shimmer EVM on testnet precedes its highly anticipated release on the Shimmer network and brings with it various possibilities and access to features available in the Shimmer protocol.

In the public testnet phase, the Shimmer EVM will be further tested and validated in an attempt to find bugs or improvements to be made.

Pyth Network, Treasures of Shimmer

Earlier in April, the Shimmer Network announced the arrival of a critical piece of infrastructure on the Shimmer EVM. The Pyth Network has deployed its oracle contracts on the ShimmerEVM testnet.

The deployment would enable projects on Shimmer to pull real-time price data onto the EVM, which is crucial for lending protocols and derivatives platforms.

IOTA's Shimmer (SMR) Makes New Listing on Top European Exchange: Details

In a separate announcement, Treasures of Shimmer, a two-week-long incentive campaign starting on May 3, 2023, will reward projects and users for participating in the public testing of the EVM chain and the dApps deployed on it.

Participants would be able to partake in a prize pool of 1,300,000 SMR tokens.

article image
About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.