crypto-news-flash.com
- The IOTA EVM has officially soft-launched ahead of the anticipated full launch by the end of the month, with the IOTA Foundation closely monitoring the progress.
- The EVM will be a game-changer, allowing the deployment of smart contracts, feeless token implementation, and high scalability at over 700 transactions per second.
The IOTA Foundation has announced the soft launch of the IOTA EVM, ushering in a new era of opportunities, connectivity and interoperability.
Susanne Krone, the Head of Ecosystem at the Foundation, revealed the launch on Monday, stating:
This strategic move marks the beginning of a carefully phased roll-out, during which we will working hand in hand with our builders’ community to lay the foundation and assemble the necessary infrastructure for what’s to come.
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
As Crypto News Flash has reported previously, integrating the Ethereum Virtual Machine (EVM) will be transformative for the IOTA ecosystem. EVM compatibility was first deployed last year on Shimmer, the staging network for the IOTA mainnet. This integration has been a great success, with fast transactions at the lowest fees.
The next stage was integrating the EVM into the mainnet, a step that the community eagerly anticipated for months. Earlier this year, founder Dom Schiener revealed in an Ask Me Anything (AMA) session that the Foundation was targeting a March 31 launch of the EVM capabilities. The soft launch allows the community to test out some of the functionalities before the full launch later on.
As Kroner stated:
Our approach is deliberate and measured; we aim to closely monitor our progress every step of the way.
While the Foundation has tentatively given the end of March as the date for the full launch, Kroner noted that the official date will be announced later. The Foundation will consider “the readiness of our infrastructure, the alignment with our community of builders, and the optimal timing for our future activities, campaigns and announcements.” The goal is to create the greatest possible impact with the announcement.
IOTA EVM Launch Will Be a Gamechanger
While several networks have EVM capabilities, IOTA’s integration will be among the best in the blockchain world. The integration on Shimmer has proven the capabilities of EVM on IOTA, and with millions of dollars locked on ShimmerEVM, the demand is high.
As one influencer notes, the EVM integration will offer a feeless base layer on IOTA’s directed acyclic graph (DAG) infrastructure for token and NFT holders. With IOTA among the most scalable networks, the EVM will enjoy a high throughput of up to 700 transactions per second. This scalability can be kicked up a notch through appchains, which users can quickly deploy through solutions like SPYCE 5.
One critical security oversight on many networks has been third-party risk; however, on the IOTA EVM, all assets, whether native coins or NFTs, will be transferrable without any bridge between Layer 1s and Layer 2s.
#IOTAevm won't be just another EVM. The IOTA Smart Contract framework, is on par with the best in class EVM experiences #crypto has to offer.
🔹Base layer (DAG) feeless for token holder
🔹Baselayer (DAG) support for Token & #NFT
🔹High scalability EVM with up to 700tps
🔹Near…— ID.iota (@id_iota) March 14, 2024