Shimmer is simply a composable tokenizing framework that makes it possible for developers to tokenize anything without any gas fees. This project was launched this week while its token, known as SMR has been listed in key exchanges.
Therefore, IOTA developers have been working on Shimmer, a project they hope will become the best platform for developers. It has a negligible market share in industries like NFTs and DeFi. For one, it has been overtaken by newer projects like Solana and BNB Chain in attracting developers. However, most analysts have been critical of the project’s impact in the industry. IOTA has had some success in the past few years. For one, tangle is made up of individually connected transactions that form a directed acyclic graph.
As a tangle, the network provides everything that blockchains offer and much more. Instead, it is Tangle, which is an open, feeless, and highly scalable DLT protocol. Unlike most projects, IOTA is not a blockchain. The developers' goal was to build the technical, decentralized infrastructure that developers can use to build their products. IOTA is one of the oldest players in distributed ledger technology (DLT).
So is Shimmer a good catalyst for IOTA prices? IOTA unveils Shimmer This price is about 20% above the lowest level this month, giving it a market cap of more than $813 million. After rising to a high of $0.3292 on September 27, IOTA crashed to a low of $0.2885 on Friday. IOTA price pared back gains made earlier this week as investors cheered the launch of Shimmer.
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