The Shimmer network officially launched on Sept. 28 following two months of battle testing, according to the announcement. The network is an extension of IOTA’s Directed Acyclic Graph (DAG) blockchain providing a staging network for the IOTA ecosystem. It will be used to test and validate product updates such as the IOTA 2.0 upgrade.
Shimmer is essentially a composable tokenization framework that opens up new possibilities to tokenize everything from stablecoins to NFTs to real-world assets natively on Layer 1 without fees. Shimmer’s smart contract execution layer also includes full EVM (Ethereum Virtual Machine) compatibility. ShimmerEVM will be the next chain to be launched on the network in a few weeks.Shimmer is a separate layer-1 network designed to foster a new dApp and smart contract ecosystem.