IOTA debuts layer-2 solution to bridge defi with real-world assets

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As a long-term crypto investor with experience in the blockchain industry, I’m excited about the latest development from the IOTA Foundation. The launch of IOTA EVM is a game-changer for the network as it opens up new possibilities in the decentralized finance (DeFi) space.

As a crypto investor in IOTA, I’m excited about the recent development where IOTA introduced a layer-2 solution that is EVM (Ethereum Virtual Machine) compatible. This means that IOTA now has the ability to support smart contracts, expanding its functionalities and making it more attractive for developers in the Ethereum ecosystem.

As an analyst, I’m excited to share that the IOTA Foundation has unveiled its latest innovation: IOTA EVM, a layer-2 solution tailored for the IOTA network. This new feature is specifically engineered to introduce smart contracts capability, thereby expanding the IOTA ecosystem’s reach in the Decentralized Finance (DeFi) sector.

As a crypto investor, I’m thrilled to share that IOTA Foundation made an exciting announcement in a recent blog post. They unveiled the capability for developers to deploy Solidity-based smart contracts on the IOTA network. This move signifies an important step towards connecting the IOTA and Ethereum ecosystems, thereby expanding IOTA’s functionalities and making it more versatile for the blockchain community.

“Introducing the IOTA EVM with a robust and market-comparable setup signifies a significant advancement in our mission to inspire innovation and boost usage in both the cryptocurrency realm and the physical world.”

The IOTA Foundation

As a researcher exploring the intricacies of the IOTA EVM, I’d describe it as follows:

Users looking to utilize or build decentralized applications based on IOTA should bridge tokens between the mainnet and layer-2 using the most recent versions of Firefly or Bloom wallets. This advancement marks IOTA as the first officially recognized distributed ledger technology (DLT) foundation within the Abu Dhabi Global Market (ADGM), enabling it to develop more offerings that merge real-world assets with decentralized finance.

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2024-06-05 13:33