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IOTA Launches the IOTA Ethereum Virtual Machine

Twitter icon  •  Published 7 महीने पहले on June 7, 2024  •  Hassan Maishera

The IOTA Foundation announced via a blog post on Tuesday that it has launched the IOTA Ethereum Virtual Machine (EVM), a fully EVM-compatible Layer 2 solution for the IOTA network.

IOTA Launches the IOTA Ethereum Virtual Machine

The IOTA Foundation announced via a blog post on Tuesday that it has launched the IOTA Ethereum Virtual Machine (EVM), a fully EVM-compatible Layer 2 solution for the IOTA network.

IOTA EVM introduces features like smart contracts, cross-chain functionality, parallel processing, and enhanced security against Maximal Extractable Value (MEV). The IOTA EVM supports parallel transaction processing, enabling horizontal scalability and deployment across various chains.

IOTA EVM enhances fairness by preventing front-running and value extraction through unpredictable transaction ordering. 

IOTA is a permissionless distributed ledger "for a new economy." IOTA aims to support the growth of a machine economy by enabling "fee-less machine-to-machine payments," offering greater scalability than blockchain networks. IOTA is trading at $0.2491, up by 8% in the last 24 hours.

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.