IOTA launches its ShimmerEVM smart contracts.

IOTA launches its ShimmerEVM smart contracts.

IOTA, an algorithm-based transaction network, has launched first smart contracts on its blockchain ShimmerEVM. 

What is Shimmer:  

ShimmerEVM is a decentralized Layer 1 chain which works by IOTA's methodics. It is fully community-governed with trusted community members validating the chain. It utilizes Proof of Authority validation principle. It is also separate from IOTA, with own $SMR tokens. IOTA is a specific network which aims to create an Internet of Things, with tamper-proof data and feeless microtransactions. It aims to facilitate the transactions between devices in the IoT.

Big News: 

Shimmer was launched in 2022, yet its now when IOTA Smart Contracts which operate on this blockchain are issued. Now the developers who make applications for IOTA, can test their apps on Shimmer before moving them to mainnet.