Leading altcoin Ethereum has finally successfully launched the Holesky test-net. Thus, he reached a new milestone. On the other hand, IOTA is preparing to launch ShimmerEVM’s smart contracts and tokens.
Leading altcoin Holesky test-net achieved success on the second try
In a dramatic turn of events, Ethereum developers have successfully resurrected the Holesky testnet. Thus, they marked an important milestone in Ethereum’s journey to upgrade its infrastructure and protocols. This success came after an initial setback on September 15, when test-net’s launch encountered unforeseen problems. However, on September 28, Ethereum’s development community celebrated the official and smooth launch of the Holesky test-net.
Holesky will replace Goerli as the primary test-net for protocol development. The Nethermind team pioneered this by placing 100,000 validators on Holesky. The first block on the Holesky network was successfully processed using the Nethermind client. During a live YouTube broadcast, an EthStaker developer confirmed the successful launch. Thus, the Holesky launch was a success. So, there is no need for a third try anymore. This statement reflects the satisfaction of the altcoin development community overcoming the challenges encountered during the initial launch.
Welcome Holesky 🤩 Ethereum’s newest testnet is live & replacing Goerli as the go-to testnet for infrastructure & protocol development.
Nethermind team is running 100k validators. First block of Holesky processed with Nethermind client 👇 pic.twitter.com/dmrbwZgFNA
— Nethermind (@NethermindEth) September 28, 2023
cryptokoin.comAs you follow from , Holesky’s initial launch ran into complications. Developers discovered bugs in test-net’s original codebase. As a result, the reboot is scheduled for September 28. This time it went off without a hitch.
What will the upgrade bring to the Ethereum world?
Holesky will replace Goerli test-net. It will also serve as a critical milestone in Ethereum’s journey towards The Merge upgrade, which is scheduled to be completed within a year. Holesky is also introducing significant changes to the test-net ETH supply, which reflects the main-net’s 120 million ETH. Holesky is addressing the scarcity of testnet supply on major testnets with 1.6 billion ETH available. Thus, it allows developers to try and test smart contracts without restrictions.
Additionally, Holesky will play a key role in the upcoming hard fork known as Dencun, which will undergo public testing on Sepolia, Goerli, and Holesky by the end of this year. Dencun brings improvements to proto-danksharding, a technical feature aimed at scaling Blockchain. These upgrades are quite important for the leading altcoin.
IOTA will launch smart contracts and tokens
In a new move, IOTA Network will launch ShimmerEVM’s smart contracts and tokens. Users will also be able to send SMR tokens (and in the future, NFTs and custom Native Assets) to ShimmerEVM via Firefly. Blockchain network IOTA announced on Thursday that it will launch the first public IOTA Smart Contracts (ISC) and a related token. This move comes after months of testing.
These contracts will be published on ShimmerEVM, an Ethereum compatible blockchain. ShimmerEVM is part of Shimmer, an IOTA ecosystem Blockchain that allows developers to build applications and use features not yet available on the IOTA mainnet before moving their applications to the main IOTA network. Shimmer is a network that will exist as a separate blockchain with its own SMR tokens, launching in 2022. EVM refers to the software environment where all Ethereum accounts and smart contracts are live.
How will this move benefit the altcoin?
It’s possible that ShimmerEVM will help increase IOTA’s appeal among developers and users. Because there is the possibility to run applications or platforms on other blockchains with minimal or no adjustments to the original code. It is also possible for users to send SMR tokens to ShimmerEVM via Firefly. So, there is no need for a special bridge. Bridges are Blockchain tools that help transfer tokens between different networks.
This move comes nearly two weeks after major IOTA developers made a series of decisions that will benefit network development and ultimately token prices. The plans also include the issuance of new tokens. With the help of this, developers will release a new ecosystem fund. Additionally, it will support decentralized applications.
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