According to CoinDesk, blockchain network IOTA is set to launch the first public IOTA Smart Contracts (ISC) and a related token on Thursday, following months of testing. The contracts will be released on ShimmerEVM, an Ethereum-compliant blockchain that is part of the Shimmer ecosystem. Shimmer is an IOTA ecosystem blockchain that allows developers to build applications and use features not yet available on the IOTA mainnet before moving their applications onto the main IOTA network.
Shimmer, unveiled in 2022, will exist as a separate blockchain with its own SMR tokens. ShimmerEVM can help expand IOTA's appeal among developers and users, as they can run applications or platforms from other chains with minimal to no adjustments to the original code. Users can also send SMR tokens, and in the future, NFTs and custom Native Assets, to the ShimmerEVM through Firefly without the need for a special bridge. Bridges are blockchain tools that help transfer tokens between different networks.
This development comes nearly two weeks after key IOTA developers made a series of decisions to benefit network development and, eventually, token prices. Plans include the release of a new ecosystem fund with the help of new token issuance and a new blockchain that will support decentralized applications.
