Massive IOTA Updates: Shimmer EVM, Stardust, NFT Gallery, Soonaverse and Tangle sea
- The IOTA Stardust upgrade will allow anyone to create their own tokens or NFTs at layer 1.
- IOTA’s Firefly wallet is set to get major upgrades such as a governance tab, Voting Power Management, automatic proposal registration and much more.
2023 could prove to be a game changer for the IOTA ecosystem as developers are working on some of the major updates for IOTA going forward this year. Among the many, the best are the launch of Shimmer EVM as well as the long-awaited IOTA 2.0. Let’s take a look at all the updates planned this year in the IOTA ecosystem.
1/7 🚀 IOTA 2023 upcoming updates
As we start 2023, (I know it’s already March) it’s time to talk about #IOTA and why this year will be critical.
Here are my top exempt releases for this year… #crypto pic.twitter.com/k0GhfrCl2E
— Moon Baklava (@moonbaklava) 20 February 2023
The most awaited is the launch of ShimmerEVM planned for the first quarter of this year. Developers have thoroughly tested the ShimmerEVM testnet. IOTA launched the Shimmer network last year in September 2022. So far, it has already managed to host more than 100 projects on the platform.
The launch of Shimmer EVM will drastically improve the network tool to suit various market use cases such as DeFi, NFTs and much more. In addition, ShimmerEVM will also make it possible to switch values from layer 1 to layer 2.
Another big upgrade ahead in the line is the IOTA Stardust which will transform the IOTA blockchain into a multi-ledger asset. As a result, the Stardust upgrade will allow anyone to create their own tokens or NFTs on Layer 1. Moreover, it will also allow efficient interaction of Layer-2 smart contract chains with L1. This would effectively make the base later a trustless bridge between L2 smart contract networks.
Also other big projects like BUILDAVERSE and TangleSea will be released after their own tests on Shimmer on IOTA.
Firefly wallet development
IOTA’s original crypto wallet Firefly is set to grow stronger. The new and upgraded versions of Firefly will have features like Minting, Viewing, Sending NFTs and Tokens to L1 | L2 network + voting/management.
The newly launched Firefly Shimmer (v2.1.0) wallet introduces new features such as public support as well as an NFT gallery. Firefly Shimmer (v2.1.0) has a management tab, Voting Power Management, automatic proposal registration, registration of proposals through deep links and manually, proposal filtering, sorting and searching, as well as management activities.
Also, using this wallet, users will be able to mint L1 tokens, create native NFTs, vote on the proposal based on their token holdings, create Alias Outputs, as well as use deep links. However, all of these features will be coming to Firefly moving forward this year with the Stardust upgrade.
Twitter handle Moon Bakalava adds:
No spam, no lies, just insight. You can unsubscribe at any time.
The #IOTA the foundation shifted its resources mainly to R&D. That is why new companies were formed from the foundation. Excitingly, we can expect to see more companies emerge with a focus on making IOTA services more accessible to the public!
Finally, the long-awaited IOTA 2.0 will go live by mid-2023 and will host a emotionless architecture with the ability to process several thousand transactions within seconds. With IOTA 2.0, new business models will be able to utilize microtransactions.
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