IOTA: What makes Shimmer the best blockchain ecosystem?


Last month, the IOTA Foundation opened the Shimmer Network to the public to provide customers with an efficient, positive on-chain experience. Shimmer is the incentive-driven Layer 1 innovation network built to fuel the growth of royalty-free, highly interoperable digital assets and token economies.

The Shimmer Network strives to achieve the goals of decentralized, scalable Web 3 economies and Shimmer will also act as IOTA’s staging network to test all future innovations. Shimmer also facilitates fee-free value transfers between smart contract chains. This makes Shimmer a truly scalable multi-chain network.

Similar to IOTA, Shimmer is also a DAG-based parallelized settlement layer with a higher Layer 2 anchoring capacity. Directed Acyclic Graph (DAG) is another form of blockchain technology. DAG technology links individual transactions to multiple other transactions. By doing so, the Shimmer Network helps connect and secure sovereign blockchains, applications, and ecosystems.

Let’s take a look at the four key features of the Shimmer Network that differentiate it from other projects and give it a competitive edge over its rivals.

The four distinctive shimmer characteristics

  1. Unique Native Tokenization: Shimmer offers unique tokenization capabilities unmatched in the crypto world. IOTA’s tokenization framework offers the guarantee of full compatibility and interoperability. As a result, Shimmer allows anyone to mint native tokens and NFTs on Shimmer with no fees. NFTs on Shimmer also serve as wallets where other NFTs and native assets can reside.
  2. Adaptability : The Shimmer Network features an advanced UXTO model that offers complex output types and enables novel transactional functions and atomic operations. Shimmer’s customizable time-bound UTXO capabilities bring a new era of value transactions. Shimmer enables marketplace operations without the need for costly custom smart contracts.
  3. Fee -Free Immutability: The Shimmer Network enables immutable data and value transactions at no additional cost. Mining tokens and NFTs also requires a deposit, but it is fully refundable. As crypto analyst 2xnmore explains ,
    “It can be used to immortalize all forms of data, hashes of external data, real objects, property and identities. Real-world assets can be securely represented by custom, negotiable tokens.”
  4. Interoperability : The Shimmer infrastructure layers serve as an all-encompassing universal bridge, connecting everything together. All chains anchored on the Shimmer Network can use the network as a fully secure, fee-free bridge for all cross-chain transactions. The Shimmer Network provides the basic infrastructure for transfer and trading without any restrictions or additional risks.

The Shimmer Network also has its own cryptocurrency, the SMR token, which is used to provide financial incentives for using the network. Customers can claim the SMR tokens through the official IOTA wallet Firefly and earn staking rewards.

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