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Technology

IOTA’s ShimmerEVM Bolsters Onboards Cross-Chain Capabilities With LayerZero's Technology

The Shimmer bridge, a tool that transfers value between different blockchains that connect to LayerZero, starts operating today.

By Shaurya Malwa
AccessTimeIconDec 27, 2023 at 12:00 p.m. UTC
Shimmer bridge, a tool that transfers value between different blockchains, starts operating Wednesday. (Alex Azabache/Unsplash)
Shimmer bridge, a tool that transfers value between different blockchains, starts operating Wednesday. (Alex Azabache/Unsplash)
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IOTA Network’s ShimmerEVM is adding LayerZero’s cross-chain messaging technology to allow users to interact and transact across several networks, developers told CoinDesk in an emailed statement.

Initial connection to other blockchains through the Shimmer bridge, a tool that transfers value between different blockchains including Ethereum, Binance Smart Chain, Polygon, Avalanche, Fantom, Base, Arbitrum and Optimism, takes place today. This connectivity broadens the horizon for ShimmerEVM, enabling an exchange of assets and information across any application built on blockchains supported by LayerZero, an interoperability protocol.

LayerZero connects over 50 blockchains to each other, allowing developers to build applications, tokens and experiences that are not native to any single blockchain.

ShimmerEVM is part of Shimmer, an IOTA ecosystem blockchain that allows developers to build applications and use features that are not yet available on the IOTA mainnet, before moving their applications onto the main IOTA network.

Edited by Sheldon Reback.

Disclosure

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Shaurya Malwa
Shaurya Malwa

Shaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.

Follow @shauryamalwa on Twitter

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