• Shimmer network records a milestone with 2.7 million total transactions.
  • Its total wallet addresses currently stand at 45k.

IOTA’s Shimmer network records a massive milestone as its daily transactions explode. According to a screenshot shared by the Shimmer team on Twitter, the ecosystem had daily transactions of 300k yesterday. 

Today, the daily transactions have more than doubled to 719,598, sending its total transactions to 2.7 million with total wallet addresses of 45k and an average block time of 657 milliseconds. As of press time, the Shimmer testnet had a total block of 1.4 million.

Considering the fact that the testnet was launched in March, this is an incredible achievement. It is also important to note that the total transactions were 1 million with over 38,000 wallet addresses last week. Also, the deployed smart contracts were 2200.

The continuous growth of crypto-related projects has been commended by several industry key players including Binance CEO Changpeng Zhao. In a recent tweet, he shared GuerrillaBuzz’s findings of crypto projects that have ceased updating their blogs this year. 

The study discovered that 51% of the top 1,000 projects posted less than one blog update per month. Such infrequent communication may lead to reduced transparency, leaving investors and followers uninformed about project updates and progress.

On this, CZ commented that not everyone in crypto is a long-term builder. In response, Dominik Schiener, the IOTA co-founder, assured us that they will never stop building.

 Shimmer EVM testnet

Shimmer EVM testnet went live on March 29. According to reports, the EVM chain on the testnet indicates a very important move in its goal to expand the reach of the interoperable Shimmer protocol to a wider community of blockchain users and developers to enable them to create EVM-compatible smart contracts.

Shimmer is the first EVM-enabled on IOTA meant to increase the overall utility of the network for both developers and traders. According to Schiener, the real ShimmerEVM would be ready for launch in a more improved way.

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.

Testing Shimmer with several Decentralized Applications (dApps) and more validators will improve performance and security while making it more resilient. IOTA has also been building several partnerships as part of its plan to create sustainable solutions for different use cases. It recently partnered with Dell Technologies to bring sustainability use cases to digital cities while seeking to transform Dell’s Urban Mobility using Intelligent Security systems (ISS). 

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In June 2022, both joined hands to build real-time carbon footprint data to educate individuals and organizations on the effect of carbon footprint and how to reduce it. 

The activity growth on the Shimmer network has triggered a price surge of 23.8 percent in the last seven days for its native token SMR. Regardless of this mini rally, the asset is still 57 percent down from its all-time high of $0.178842. SMR is currently trading at $0.074694. IOTA has, however, fallen by 2 percent in the last seven days to trade at $0.196745. 

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