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A NEW NOTABLE UPDATE TO IOTA, SHIMMER AND ASSEMBLY

 


Shimmer is the beginning

The bouquet of technical possibilities at the IOTA Foundation is becoming ever broader and more diverse. Last week it was announced that the Shimmer Network had gone live with a beta version of Shimmer (pre-release before eventual full release). And that too with the Stardust upgrade, which is very valuable for the entire crypto industry. We have already described in a previous news article why this is so important for IOTA .


This means that your own so-called “native tokens” can already be created in the Shimmer network today. It would be conceivable that we could place the "Crypto-Guru-Fantoken" (fictitious example) there with a certain number in order to use it within the Shimmer network for transactions, e.g. for intelligent contracts.


This could then look like this in the Firefly wallet:


Shimmer Balance


A tweet was also initiated describing an official integration of the Shimmer network with the exchanges. According to our information, only BITPANDA and HUOBI have so far given their commitment to list the SMR token. Let's hope that some more networks will follow. The chances for that are not bad.


IOTA Assembly Staking

Third round of staking with assembly

The IOTA staking for assembly (smart contract network) has entered its third round. Since July 29, the IOTA tokens can be staked again for 90 days to receive assembly tokens. A total of 20% of the assembly stock is allocated to IOTA stakers proportionately to the total amount, for which the hodlers must participate in all staking phases.


An update with the Firefly wallet is also required to participate. The IOTA tokens can still be used at any time, but if the tokens are withdrawn, the entire amount must be used again manually. If further purchases are submitted for staking at the currently very low price of around USD 0.33 per MIOTA, these quantities can be used for staking at any time. Around 2.4 trillion ASMB have now been issued.


​Login with IOTA is coming

There is also more good news to report from Layer 1, the IOTA network.


The IOTA Foundation, together with walt.id, is developing a privacy-preserving login system that allows traditional and decentralized apps to easily onboard users. Users are given full control over their data and can securely share information at their discretion.


In close cooperation, the two parties involved will implement the project in the coming months and publish the first version in autumn 2022. Then an IOTA login could officially represent an alternative to well-known logins such as Google. Before you can compete with such "big players", a few more developments have to be made. We remain curious to see what the next few months will bring.

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