The first public IOTA Smart Contracts (ISC) and a linked token will go live on Thursday, according to creators of the IOTA blockchain network. The action follows several months of testing.
On ShimmerEVM, a blockchain that complies with Ethereum, these contracts will be made available. ShimmerEVM is a component of Shimmer, a blockchain in the IOTA ecosystem that enables developers to create apps and make use of capabilities that are not yet accessible on the IOTA mainnet before deploying those applications to the main IOTA network.
A network called Shimmer will be introduced in 2022 and function as a distinct blockchain with its own SMR tokens. An Ethereum Virtual Machine, also known as the software environment in which all Ethereum accounts and smart contracts are active, is referred to as EVM.
ShimmerEVM’s ability to run platforms or programmes from other chains with little to no changes to the original code can aid in increasing IOTA’s attractiveness among consumers and developers.
There is no special bridge required; users can send SMR tokens (and, in the future, NFTs and unique Native Assets) to the ShimmerEVM via Firefly. To transfer tokens between other networks, use bridges, a blockchain tool.
The action comes following a series of decisions made by important IOTA engineers that helped the network evolve and, eventually, the value of tokens. These decisions were made over two weeks ago. A new blockchain that will facilitate decentralised applications is also planned, as is the launch of a new ecosystem fund with the aid of new token issuance.