JAKARTA - Crypto number 74 based on its market capitalization, IOTA (MIOTA), recently announced a partnership with Multichain previously known as Anyswap. This collaboration is aimed at facilitating interoperability with Shimmer. That way, users can exchange tokens in both networks through integration with Web3 cross-network infrastructure providers.
It should be noted, the benefits will also be extended to the ShipmerEVM chain. Furthermore, for the ShipmerEVM chain, this will allow interoperability with not only IOTA but other networks supported by Multichain, including Ethereum, Fantom, and BSC testnets.
"With this partnership, we can take a big step forward in bridging the IOTA and Shipmer protocols, enabling more cases of use, increased liquidity, and flexibility," said Dominik Schiener, co-founder of IOTA.
Shipmer like IOTA is a Directed Acyclic Graph (DAG) network. However, transactions on this network don't cost money and offer customizable smart contracts. In addition, the Shipmer network promises to offer a scalable multi-chain ecosystem. It should be noted, this network was created to test future IOTA features.
"Through this integration, IOTA holders will gain access to the fast-growing Shimmer ecosystem and with that, investment opportunities to earn income from their IOTA tokens through staking, yield-farming, and others," the blog wrote. "Thanks to the Multichain, Shipmer and IOTA bridges getting closer to each other, maximizing each other's growth and success."
IOTA allows transactions between devices connected to the internet. Developers consider its DAG technology to be more scalable than blockchain. As part of the European Blockchain Service Infrastructure initiative, the project is currently involved in exploring cross-border blockchain solutions for the European Union.
"We are very pleased with this partnership because it gives us the opportunity to expand the reach and effect of our network," said the anonymous Multichain representative.
In an interview, Schiener added, "This partnership will open up new opportunities for users and give us the potential to explore more innovative and sophisticated blockchain solutions."
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