- The integration of ShimmerEVM and LayerZero is expected to improve cross-chain communications and DeFi on ShimmerEVM on IOTA.
- Connections include Ethereum, Polygon, Avalanche, Binance Smart Chain, and Optimism.
According to an announcement made on December 27, IOTA’s ShimmerEVM has integrated with LayerZero to provide users with cross-chain messaging technology.
The integration expands ShimmerEVM’s connectivity to major blockchains, further improving interoperability through Shimmer, a unified cross-chain ecosystem. Posted According to details in the blog post, this move means that users will now be able to interact and transact across multiple networks within the Shimmer ecosystem.
ShimmerEVM’s cross-chain connectivity
Shimmer Shimmer is a blockchain platform within the IOTA ecosystem that allows developers to build and deploy decentralized applications (dApps) with access to features not currently available on the IOTA mainnet. ShimmerEVM is the platform’s Ethereum Virtual Machine compatible layer.
Meanwhile, LayerZero is an omnichain interoperability protocol that allows communication between multiple blockchains through cross-chain messaging technology.
ShimmerEVM leverages LayerZero’s messaging infrastructure to extend these cross-chain communication capabilities to the broader Shimmer ecosystem.
Big news about cross-chain communication & #DeFi Development for our ecosystem🔥! @LayerZero_Labs is integrated with #ShimmerEVM. The integration expands our connectivity to major blockchains, bringing us closer to a unified cross-chain ecosystem.
🔗https://t.co/b2gQabmvFy pic.twitter.com/UgI3vJVHx6— Shimmer (@shimmernet) December 27, 2023
Under this collaboration, Shimmer is set to see initial connections to other blockchain networks. These include Ethereum, Polygon, Binance Smart Chain, Optimism, Avalanche, Arbitrum, Fantom, and Base.
Interoperability with these networks means the exchange of assets and information becomes easier and heralds a new era of DeFi within the ShimmerEVM ecosystem.
The integration of LayerZero and ShimmerEVM comes just days after collaboration with Blockdaemon. This also follows the recent revelation that the LayerZero token is likely to launch in 2024.