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In a groundbreaking move, IOTA’s ShimmerEVM is enhancing its cross-chain capabilities through a strategic integration with LayerZero.
This collaboration introduces a new era of cross-chain communication, promising significant advancements in the decentralized application (dApp) and decentralized finance (DeFi) realms. Let’s delve into the details of this innovative integration.
Over 50 blockchains interconnected by LayerZero
LayerZero serves as a linchpin, interconnecting over 50 blockchains. On the other hand, the Shimmer Bridge, a tool designed for transferring value between different blockchains, connects ShimmerEVM to prominent networks such as Ethereum, Binance Smart Chain, Polygon, Avalanche, Fantom, Base, Arbitrum, and Optimism.
Therefore the integration of LayerZero into ShimmerEVM marks a crucial development in addressing interoperability challenges within the blockchain space. The collaboration enables seamless communication between different blockchain networks, fostering an environment where users and developers can fully leverage the unique features of each chain.
Big news for cross-chain communication & #DeFi advancements for our ecosystem🔥! @LayerZero_Labs is integrating with #ShimmerEVM. The integration extends our connectivity to major blockchains, steering us closer to a unified cross-chain ecosystem.
— Shimmer (@shimmernet) December 27, 2023
🔗https://t.co/b2gQabmvFy pic.twitter.com/UgI3vJVHx6
Shimmer’s inherently interoperable architecture is further empowered by LayerZero’s messaging infrastructure, establishing a secure and transparent cross-chain messaging system. The Shimmer Bridge, powered by LayerZero and owned by Tangle DAO LLC, provides a user-friendly interface at www.shimmerbridge.org, offering an efficient gateway to connect with the Shimmer ecosystem.
With this extensive network, LayerZero creates a dynamic environment where applications can transcend the limitations of individual blockchains.
ShimmerEVM’s role in the IOTA ecosystem
Shimmer, the staging network for the IOTA ecosystem, provides developers with a unique space to build and test applications. IOTA launched ShimmerEVM, an EVM-compatible network, on the mainnet in September 2023 allowing people to run IOTA Smart Contracts (ISC) from Ethereum and other chains on IOTA.
Developers can leverage ShimmerEVM’s capabilities, exploring features not yet available on the main IOTA network. This phased approach allows for rigorous testing and refinement before applications are transitioned to the main IOTA network.
The integration of LayerZero’s technology into IOTA’s ShimmerEVM marks a pivotal moment in the evolution of cross-chain capabilities.
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