The development of Shimmer
Already in February of this year, we reported with a detailed article about the upcoming development of IOTA in connection with tokenomics and dust protection. Now it has been publicly reported about the Shimmer test network, the imminent introduction of the biggest update of all time at IOTA, which you can reach for more information with the linked article.
According to IOTA’s roadmap, the previously set building blocks were able to..
- End of the first staking phase with Shimmer and Assembly
- Start of the second staking phase with pure Assembly
- Internal Shimmer Beta Test phase
- As well as the Treasury Community vote
..all will be completed. The next big milestone would now be the public Shimmer Beta version, followed by the Shimmer Network Launch, involved with the Upgrade Stardust, on the schedule. In my opinion, this could also be done within the next 40 days (end of the second staking phase with Assembly).
Therefore, many are currently asking themselves the question why this update is so important for IOTA. In all technical brevity, this is due to the following points:
- Stardust turns IOTA into a multi-asset ledger (everyone can mint their own tokens or NFTs themselves)
- In addition, a bridge is built from IOTA to the higher-level layer (usually called layer 2 or layer 3) with smart contract networks
On the part of the IOTA Foundation, it says about the current status:
At the moment, Stardust is being tested internally and the associated software is being prepared, including Hornet nodes, the IOTA Smart Contract nodes, client and wallet libraries, the Firefly wallet and additional tools. Once preliminary versions are ready, Stardust will be deployed in the form of a public testnet, followed by release as a Shimmer network.
The result of the vote
In the meantime, the 10 days of the vote and thus the vote count are history again and the results speak a clear language.
According to current results, as was to be expected, 83% voted for the Build option and only 13% chose the Burn option. On the positive side, it should also be mentioned that the entire vote was technically smooth.
Here again the graphical representation of the voting:
