All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- The daily active addresses on the Shimmer Network saw a major boost with the start of the Treasures of Shimmer airdrop campaign.
- Since its launch 7 months ago, the Shimmer blockchain has delivered robust performance without any bugs or any other major issues.
The IOTA Shimmer network has gained popularity in just a few months of launch and is turning out to be one of the most preferred platforms for new projects to launch their services. In the latest development, IOTA co-founder Dominik Schiener took to Twitter to celebrate the milestone for the Shimmer Layer 1 network.
Reporting a massive growth in utility, Schiener said that the Shimmer blockchain now has 22,000 daily active addresses. This followed the airdrop campaign by Treasures of Shimmer. In the recent development, Web3 gaming experience IOTAHeroes has launched the Treasures of Shimmer Battle test on the ShimmerEVM network.
Schiener said that the Shimmer ecosystem is flourishing and growing daily and that the native SMR token price will hit new highs very soon.
22k daily active addresses just on the Shimmer L1 yesterday with the start of the Treasures of Shimmer airdrop campaign.
The tech is amazing. The ecosystem is flourishing and growing daily. This is the way $SMR #Shimmer
Imagine how SMR will fly once this hits mainnet. pic.twitter.com/H7utlU9e5y
— Dominik Schiener (@DomSchiener) May 4, 2023
The Treasures of Shimmer kicked off earlier this week on May 3 and is a two-week-long incentive campaign that will reward projects and users for participating in the public testing of the ShimmerEVM chain, as well as the dApps deployed on it. Later, the participants will participate in the public testing of 1.3 million SMR tokens.
The Robust Performance of the Shimmer Network
In its report for the first quarter of the year 2023, the IOTA Foundation spoke about the success of the Shimmer Network attained in a very short period of time. Since its launch in late September 2022, IOTA’s staging network Shimmer operated successfully without any bugs or any other major issues.
As we know, both IOTA and the Shimmer networks are Layer-1 platforms that use the Tangle technology with DAG for transactions as well as data storage but differ in tokenization. Shimmer’s Stardust protocols also facilitate NFTs, customer tokens, and alias outputs on the Layer 1 network.
Note that Shimmer is a staging network of the IOTA blockchain and serves as a testbed for testing new innovations before they make their way to the IOTA mainnet. The Stardust feature is currently limited only to Shimmer and might arrive on the IOTA blockchain in the future.
Also, while IOTA uses dust protection, Shimmer asks users to back up their stored data on the Tangle with the SMR tokens. Everyone is now eagerly awaiting the launch of the ShimmerEVM which will facilitate seamless transfer of assets between Shimmer and Ethereum.
However, developers have currently launched the ShimmerEVM testnet a month ago. The Shimmer EVM testnet has reached a transaction milestone of approximately one million and has over 38,000 active wallet addresses, just a month after its launch. The platform has also successfully deployed over 2,200 smart contracts.
