Billion-$ switch to list Shimmer and deep dive
- Bitpanda Exchange predicts the rise of IOTA’s Shimmer Network.
- The Shimmer Network will help IOTA’s bid to be a dominant IoT protocol in the Web3.0 World.
In one of the most exciting innovations anticipated by members of the blockchain ecosystem, the Shimmer Network is on track to be listed on Bitpanda, one of the industry’s multi-billion dollar trading platforms. Bitpanda implied on its planned support for Shimmer as it posted a brief but definitive question on its official Twitter handle.
@shimmernet WHO?
— Bitpanda (@bitpanda) 1 March 2023
The “WEN Shimmer” question elicited a response from the Shimmer Network’s account suggesting that it will launch soon as well. The community is buzzing with these revelations, as it confirmed other claims that ongoing work on Shimmer is progressing at a very sporadic rate.
A member of the IOTA community took to Twitter to share the insight gleaned from a screenshot from Dave de Fijter, director of engineering and smart contracts at IOTA Foundation as it relates to development work being done on the Shimmer network.
I sorted @fijter Tweets about the progress of #Shimmer #EVM testnet in a screenshot.
Looks like we still need some patience…
But it’s better to be safe than sorry! pic.twitter.com/jTPGh6Skl7— IOTA Vrom.iota 🦋✨️💪➡️🐙☠️🤖soon (@Vrom14286662) 1 March 2023
According to the details in the screenshot shared, Fijter said that the limited version of the ShimmerEVM test has been rolled out and this model is exactly what will be infused into the mainnet. The developer said that a lot of work is being done after preliminary testing revealed many bugs that needed to be fixed.
The Shimmer network is bound to be powered by the SMR native token, which will be what Bitpanda and other exchanges will list for trading on their platforms.
Insights into the Shimmer Network and the Tangle technology
according to description of the Shimmer Network, it is an emotionless, parallelized Decentralized Acyclic Graph (DAG) ledger for securing and creating fully customizable smart contract chains. It is designed as a staging protocol for battle testing all future innovations for the IOTA protocol.
Billed to be a highly scalable protocol, value transfers are designed to be cheap, fast and interoperable by drawing on the tokenization structure. For further context, the Shimmer network will be to IOTA what Kusama is to the Polkadot blockchain.
The Shimmer Network can be described as the Tangle in action. The Tangle technology is a DAG built to facilitate microtransactions by its very nature. With IOTA built primarily for the Internet of Things (IoT) ecosystem, there is a need for a highly functional decentralized protocol that can drive various transactions with minimal lag.
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Tangle has been presented as the solution in this regard and that deviates from Blockchain technology in a number of different ways. These include the absence of miners or validators thus eliminating the need for fees, and the high scalability of the protocol that draws on its agility and ability to process chunks of data in real time, thus making it ideal for microtransactions.
Many have tipped Tangle as superior blockchain technology, and while this is subjective as it is considering the fact that Tangle is not operational today. With the Shimmer Network, the world will get its first bit of exposure to what the technology can do.
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