IOTA EVM Launch, Staking Rewards, Etc

• The IOTA EVM (Ethereum Virtual Machine) launch on March 31, 2024, will bring smart contract functionality and staking rewards to the Shimmer network.
• IOTA aims for full decentralization with the upcoming IOTA 2.0 testnet in Q2 2024, introducing native sharding and enhanced consensus mechanisms.

In a recent Ask Me Anything (AMA) session on KuCoin, IOTA founder Dom Schiener unveiled a series of developments that signal a transformative year for the cryptocurrency. With the impending launch of IOTA EVM, the introduction of staking rewards, and potential government partnerships, IOTA positions itself as a significant player in the ever-evolving blockchain landscape.

A key milestone for IOTA is the scheduled launch of IOTA EVM (Ethereum Virtual Machine) on March 31, 2024. This integration is set to be a game-changer, introducing smart contract functionality and dApp support to the Shimmer network.

The move substantially broadens IOTA’s capabilities, creating opportunities for diverse applications. Developers can now harness IOTA’s feeless data transactions and robust security features to build innovative dApps spanning sectors such as DeFi, NFTs, and supply chain management.

The announcement of staking capabilities on IOTA EVM adds another layer of excitement for the IOTA community. Set to commence in late Q1 or early Q2 2024, users will also have the opportunity to stake their IOTA tokens and earn rewards through airdrops and other incentivization mechanisms.

This initiative aims to foster active participation and fortify the IOTA ecosystem by recognizing and rewarding token holders for their contributions. As IOTA charts its course for the year, these strategic moves position the cryptocurrency for notable growth and influence in the blockchain space.

IOTA Advances Towards Full Decentralization

In a significant stride towards realizing its vision of a fully decentralized network, IOTA is set to launch the IOTA 2.0 testnet in Q2 2024. This next-generation iteration will bring forth crucial upgrades, including native sharding and enhanced consensus mechanisms. These advancements aim to enhance the scalability and security of the IOTA infrastructure, solidifying its position in the blockchain landscape.

During the announcement, IOTA founder Dom Schiener provided insights into potential government adoption announcements and upcoming Real-World Asset (RWA) tokenization deals on a large scale. These deals, potentially involving hundreds of millions of dollars, hold the promise of amplifying IOTA’s real-world applications across various industries.

Furthermore, the collaborations in the pipeline could further establish IOTA as a prominent player in the blockchain realm, expanding its footprint through meaningful partnerships and use cases.

IOTA’s founder, Dominik Schiener, also shared a groundbreaking announcement during a recent Ask Me Anything (AMA) session, sparking a 15% surge in IOTA’s price, which currently stands at $0.2458. During his recent interview with KuCoin, Schiener said:

“And we also have some very exciting announcements of large RWA tokenization deals, where we are onboarding and hopefully, hundreds of millions of dollars of assets to IOTA and offer those yield bearing assets to our ecosystem and to have fun with it”.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.