IOTA: Shimmer Network Experiences Explosive Growth with Millions of Transactions, Prompting Development Team to Accelerate Ecosystem Expansion

  • The total active addresses on the ShimmerEVM testnet has surged past 1 million after a month of its launch.
  • On Sunday, the ShimmerEVM network faced issues with network congestion hinting at the scope of improving the performance in the long run.

The team behind IOTA Foundation and the Shimmer network has been actively working to bring new improvements to the ecosystem and currently, the major area of focus has been the ShimmerEVM testnet.

Ever since its launch in late March 2023, the ShimmerEVM testnet has witnessed quick adoption in the market. Ten days back, the ShimmerEVM testnet attained the transactions milestone of 1 million. The daily transactions on the ShimmerEVM network have already crossed 300K. In another major milestone, the total number of active addresses on the ShimmerEVM testnet has now surpassed 1 million.

This is a spectacular growth trajectory considering Shimmer took very little time to attain this milestone. Furthermore, the ShimmerEVM continues to hit more milestones by deploying more than 2,500 smart contracts.

The launch of the ShimmerEVM testnet a month ago was a significant milestone in extending the interoperable Shimmer protocol to a vast network of blockchain developers and users who have been developing EVM-compatible smart contracts.

The ShimmerEVM launch also marks the long-awaited release of the Shimmer network and introduces a plethora of possibilities and features that are now available through the Shimmer protocol. During the public testnet phase, IOTA developers will continue to test the ShimmerEVM and identify any bugs or areas for improvement as part of their ongoing efforts.

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A Temporary Setback for IOTA ShimmerEVM testnet

On Sunday, May 7, the IOTA Shimmer blockchain announced that it ran into a temporary setback and network congestion. In a Twitter message on Sunday, May 7, Shimmer noted:

Attention pirates! We are currently experiencing heavy congestion on the #ShimmerEVM Testnet, challenging the chain’s limits & allowing us to improve performance in the long run. Rest assured, our team is working diligently to resolve this ASAP.  Stay tuned for updates! Thank you for your patience & support.

However, the team hasn’t announced the exact visitor count that overwhelmed the ShimmerEVM testnet. The development took place on the same day as the Bitcoin network faced major congestion with pending transactions piling up significantly. Also, Shimmer hasn’t provided any further updates in this regard. Commenting on the network congestion at ShimmerEVM, @iota_penguin noted:

It’s much better to encounter such challenges in the testnet of #ShimmerEVM than on the mainnet. Thanks for the transparency & kudos to the team for working towards resolving this issue!

The ShimmerEVM seeks to increase the overall utility of the network for both developers and traders. IOTA’s lead developer, Dominik Schiner said:

We are continually making new improvements so when the ‘real’ ShimmerEVM is ready to launch, it’s more polished. This testnet is an important step forward for the rollout of future ecosystem projects on both Shimmer and Iota.

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Bhushan is a FinTech enthusiast and holds a good flair for understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In his free time, he reads thriller fictions novels and sometimes explores his culinary skills.

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