• Shimmer is a fully-functional Layer-1 staging network developed by the IOTA Foundation to provide a solution for data silos.
• It allows the deployment of IOTA’s Layer 2 smart contracts, DApps, as well as Web3 capabilities in a testing environment before introducing them to the mainnet.
• Shimmer offers feeless transactions and scalability that makes it an ideal solution for distributed ledger networks.
What is Shimmer?
Shimmer is a Layer-1 staging network developed by the IOTA Foundation to provide a solution for fractionalization wherein data silos can’t communicate with each other. It enables users to mint their own custom native tokens and NFTs and deploy IOTA’s Layer 2 smart contracts, DApps, as well as Web3 capabilities in a testing environment before introducing them to the mainnet. The good thing is Shimmer’s DAG base layer is absolutely feeless which means all its native tokens and NFTs will inherit the same qualities and security features.
Advantages of Shimmer
The major advantage of Shimmer Network is that it allows users to transfer assets between chains without needing to maintain large amounts of liquidity making them potential targets for cybercriminals. Furthermore, due to its feeless transaction feature, users don’t have to pay any fees while transferring tokens or NFTs on this network allowing maximum scalability with absolute security.
Significance of Stardust Tokenisation Framework Protocol Upgrade
The Stardust Tokenisation Framework Protocol Upgrade plays an essential role in turning the Shimmer Network into a Tangle-based multi-asset ledger. This upgrade offers various benefits such as enabling zero-knowledge proofs to be used across multiple parties at once and allowing privacy features like identity obfuscation where only one party holds identity information instead of every node having access rights.
Comparison with Other DLTs
Unlike other distributed ledger networks available in the market, Shimmer doesn’t suffer from fractionalization since its bridges don’t need separate coding, implementation, securing or maintenance process making it more cost effective than most DLTs available in the market today. Moreover, unlike some DLTs that require large amounts of liquidity for asset transfers between two chains which make them potential targets for cybercriminals; this isn’t necessary with Shimmer because it provides feeless transactions that ensure maximum scalability without compromising on security standards.
In conclusion, Shimmer Network has emerged as one of the most promising distributed ledger solutions providing myriad advantages such as enabling zero-knowledge proofs across various parties at once while also offering privacy features like identity obfuscation where only one party holds identity information instead of every node having access rights; all these features come together with absolutely no fees required making it an ideal choice among blockchain applications today.