{"id":80195,"date":"2024-06-04T12:53:12","date_gmt":"2024-06-04T16:53:12","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=80195"},"modified":"2024-06-04T12:53:41","modified_gmt":"2024-06-04T16:53:41","slug":"iota-teams-up-with-layerzero-for-new-evm-compatible-layer-2","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/iota-teams-up-with-layerzero-for-new-evm-compatible-layer-2\/","title":{"rendered":"IOTA Teams Up With LayerZero for New EVM-Compatible Layer 2"},"content":{"rendered":"\n

IOTA Foundation announced IOTA EVM, a Layer 2 solution that\u00a0seamlessly integrates smart contract capabilities into the IOTA network<\/a>, generating a 6% price increase.<\/p>\n\n\n\n

\"IOTA<\/figure>\n\n\n\n

IOTA EVM, introduced by the IOTA Foundation<\/a>, is a Layer 2 solution that incorporates smart contract functionalities into the IOTA network in a seamless manner.<\/p>\n\n\n\n

Expanding upon the foundation established with the initial release of the EVM on Shimmer in September 2023, this release signifies the completion of substantial improvements, rigorous testing, and audits.<\/p>\n\n\n\n

IOTA\u2018s New EVM-Compatible Layer 2<\/h2>\n\n\n\n

With its multitude of cutting-edge functionalities, IOTA EVM enhances the capabilities of the network.<\/p>\n\n\n\n

Parallel processing is one such characteristic, made possible by the protocol's Layer 1 architecture.<\/p>\n\n\n\n

By enabling horizontal scalability and dissemination across multiple chains, this approach enhances processing capabilities and eliminates the need for conventional chain anchoring.<\/p>\n\n\n\n

Furthermore, the platform prioritizes smooth interoperability<\/a>, which enables the implementation of Solidity smart contracts with minimal effort.<\/p>\n\n\n\n

Facilitating fluid interactions within the ecosystem, this interoperability transcends EVM and non-EVM systems.<\/p>\n\n\n\n

\n

\u2728IOTA\u2019s #EVM\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> Mainnet Unleashed\u2728 Today marks a significant milestone for #RWA<\/use><\/svg><\/span><\/a> and real utility: the launch of #IOTAEVM<\/use><\/svg><\/span><\/a>, a fully EVM-compatible Layer 2 solution for the #IOTA<\/use><\/svg><\/span><\/a> network. Dive into it here, or check the \ud83e\uddf5\u2935\ufe0f\ud83d\udd17https:\/\/t.co\/w7yghhSI8F<\/use><\/svg><\/span><\/a> pic.twitter.com\/JvMEFVtlPw<\/use><\/svg><\/span><\/a><\/p>— IOTA (@iota) June 4, 2024<\/use><\/svg><\/span><\/a><\/blockquote>

Furthermore, IOTA EVM places a high emphasis on security and fairness through the incorporation of native randomness and resistance to Miner Extractable Value (MEV).<\/p>\n\n\n\n

The platform's actions of improving equity and prohibiting front-running are in strict accordance with regulatory requirements that uphold market integrity and ensure equal access.<\/p>\n\n\n\n

As a result of the partnership with LayerZero, Stargate Finance, Pyth Network, and Supra, this launch was possible.<\/p>\n\n\n\n

Advancing Real-World Adoption<\/h2>\n\n\n\n

Concurrently,  IOTA's recent alliances and initiatives to connect crypto-native applications with conventional sectors demonstrated its dedication to practical implementation.<\/p>\n\n\n\n

Significantly, the partnership between the IOTA Foundation and prominent international organizations such as Trademark Africa, the World Economic Forum, and the Tony Blair Institute for Global Change indicates a deliberate and focused initiative to transform global trade via the Trade Logistics Information Pipeline (TLIP).<\/p>\n\n\n\n

By replacing physical markings on trade certificates with immutable digital counterparts, TLIP ushers in a digital age that signifies a paradigm shift in international trade.<\/p>\n\n\n\n

TLIP uses the distributed ledger technology (DLT) of IOTA to guarantee the integrity of authenticated documents, thereby creating a transparent and unbroken chain of responsibility for international trade transactions.<\/p>\n\n\n\n

IOTA\u2019s Price Rallies<\/h2>\n\n\n\n

Following this announcement, the IOTA market<\/use><\/svg><\/span><\/a> responded favorably by experiencing a 6% increase, climbing from a low of $0.2135 to $0.2294 at the time of writing.<\/p>\n\n\n\n

The 24-hour trading volume and market capitalization both increased by 46.32% and 6.25%, respectively, to $753,418,010 and $22,004,458, in conjunction with this uptrend.<\/p>\n\n\n\n

\"IOTA<\/figure>\n\n\n\n

This rally has managed to hit a 5-day high following a bearish week that began with a bearish turnover after failing to break the weekly high of $0.2333.<\/p>\n\n\n\n

Furthermore, IOTA's open interest and derivatives volume increased by 12% and 62%, respectively, to $20.05M and $29.90M, as a result of this recovery.<\/p>\n\n\n\n

The surge in trading activity and investor interest is a direct result of the IOTA EVM's launch.<\/p>\n","protected":false},"excerpt":{"rendered":"

IOTA Foundation announced IOTA EVM, a Layer 2 solution that\u00a0seamlessly integrates smart contract capabilities into the IOTA network, generating a 6% price increase. IOTA EVM, introduced by the IOTA Foundation, is a Layer 2 solution that incorporates smart contract functionalities into the IOTA network in a seamless manner. Expanding upon the foundation established with the […]<\/p>\n","protected":false},"author":56,"featured_media":80196,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[4279,19832],"class_list":["post-80195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-iota","tag-iota-price-analysis"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/06\/IOTA-Teams-Up-With-LayerZero-for-New-EVM-Compatible-Layer-2.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/80195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=80195"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/80195\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/80196"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=80195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=80195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=80195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}