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Dominik Schiener is co-founder and chairman of the IOTA Foundation. He discusses the development of the Shimmer Network, a layer 1 protocol designed for launching DeFi applications, NFTs, and other decentralized projects, along with EVM compatibility upgrades.
1Interview
2022First on the show
Nov 2022Latest appearance
18 minOn camera
17:45
Latest interview · Nov 24, 2022IOTA Foundation launches Shimmer Network for DeFi and NFTsWatch the episode →
In their own words
“Shimmer is its own layer one network. It has its own token, Shimmer token. It was fully distributed to the community so it has a fair token distribution.”
Key points from the latest interview
- IOTA launched Shimmer Network as a canary network to test protocol upgrades like tokenization and smart contracts before deploying to mainnet.
- Shimmer Network is EVM-compatible, enabling DeFi and NFT applications to launch on IOTA's DAG-based ledger architecture.
- IOTA's ecosystem of decentralized applications is only now launching with Shimmer, with approximately 70 dApps already signed up.
- IOTA Foundation is providing developer support through tooling, documentation, and a touchpoint program connecting projects with investors and auditors.
- DAG ledger technology offers faster transaction validation, quicker finality times, and cheaper transactions compared to traditional blockchain consensus.