IOTA Glossary

IOTA

The Tangle, developed by IOTA, is a distributed ledger that is open, scalable, and operates without transaction fees. Its design is aimed at facilitating seamless transfer of both value and data, with no friction.

As a leading Distributed Ledger Technology (DLT), IOTA’s scalability will make it widely accepted and adopted in different use cases in the near future, especially in the new world of Web3. Despite its great potential, IOTA does not support smart contract yet, which makes the possibilities of trading with IOTA rather limited today.That is why we need Iotabee!

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Shimmer

Shimmer is a distributed ledger that uses a feeless, parallelized directed acyclic graph (DAG) to enable highly customizable smart contract chains. Initially launched as a staging network to test new innovations for the IOTA protocol, Shimmer includes a tokenization framework that ensures seamless interoperability, composability, and feeless value transfers between different smart contract chains. The network aims to achieve high scalability and become a truly multi-chain network.

The native token used in the Shimmer network is called SMR.

EVM

The Ethereum Virtual Machine (EVM) is a crucial component of the blockchain's infrastructure, as it is responsible for executing application code, known as smart contracts.

The EVM serves as a run-time environment for smart contracts to operate within the Ethereum network.

In essence, it is the program that enables the execution of smart contracts, making it a central part of Ethereum's architecture.