TL;DR
- IOTA EVM, a fully EVM-compatible Layer 2 solution, is now available on the IOTA network.
- It offers features such as parallel processing, seamless interoperability, enhanced security, and MEV resistance.
- EVM can be accessed through MetaMask, the JSON-RPC entry point, or the Firefly browser.
The launch of IOTA EVM marks a significant milestone for the IOTA network, introducing smart contract functionality and opening up new possibilities for the development of innovative decentralized applications (DApps).
Fully compatible with the Ethereum Virtual Machine (EVM), EVM makes it easy to deploy existing Solidity-based smart contracts, allowing developers to leverage a well-established ecosystem of tools and resources.
✨IOTA’s #EVM Mainnet Unleashed✨ Today marks a significant milestone for #RWA and real utility: the launch of #IOTAEVM, a fully EVM-compatible Layer 2 solution for the #IOTA network. Dive into it here, or check the 🧵⤵️🔗https://t.co/w7yghhSI8F pic.twitter.com/JvMEFVtlPw
— IOTA (@iota) June 4, 2024
EVM is distinguished by its key features that make it an attractive platform for DApps.
Parallel processing: This feature enables greater scalability and faster transaction processing, meeting the demands of high-performance DeFi applications.
It is crucial for DeFi applications that require fast and efficient processing of transactions, as it allows users to perform swaps, loans, and other operations quickly and seamlessly.
Seamless interoperability: This feature facilitates interaction between EVM and non-EVM chains, breaking down silos and enabling seamless communication between different blockchain ecosystems.
It allows DApps developed on EVM to communicate and interact with other DeFi applications and blockchain platforms, expanding their reach and potential.
Increased security and resistance to MEV: This feature implements native randomness and mechanisms that combat extraction of mining value (MEV), ensuring a fairer and more secure DeFi experience.
It is essential to maintaining integrity and trust in the DeFi ecosystem as it protects users from market manipulation and unfair value extraction.
To get started on IOTA EVM, users can connect via MetaMask or use the provided JSON-RPC pointer
The Firefly browser also provides an interface to interact with the network and view information about smart contracts and transactions.
The success of IOTA EVM would not be possible without the collaboration of key partners who provide a robust and reliable infrastructure.
These include Stargate Finance, an omnichain liquidity transport protocol, LayerZero, a blockchain interoperability provider, and Blast API, which offers high-performance Web3 node infrastructure.
With the launch of EVM, IOTA is positioned as a leading platform for the development of innovative DApps that combine the advantages of DeFi with the scalability and security of the IOTA network.
The integration of real-world assets into the DeFi ecosystem through IOTA EVM opens a range of possibilities for the widespread adoption of blockchain technology and the creation of a more inclusive and efficient financial future.
