IOTA Gets Massive Upgrade: Mint L1 Tokens, Create Native NFTs & More

• Firefly, the native cryptocurrency wallet of the IOTA cryptocurrency, has recently arrived with new functionality which could be path-breaking for the entire IOTA ecosystem.
• The new Shimmer Firefly wallet brings a range of functionalities for users on IOTA including minting L1 tokens, voting on proposals based on token holdings, creating native NFTs and more.
• The major developments scheduled this year include ShimmerEVM and IOTA 2.0 which will further help in boosting innovation in the IOTA blockchain.

Firefly’s New Features for IOTA

The Firefly Shimmer (v2.1.0) wallet brings brand new features such as an NFT Gallery and governance support to users on IOTA. This allows them to trade, mint or burn their NFTs and also provides basic media support for these NFTs. Additionally, it also supports wide governance activities such as proposal filtering, sorting and searching along with Voting Power Management and automatic proposal registration through deep links & manually.

Shimmer Network

The Shimmer Network is a Layer-1 staging network specifically designed to boost innovation in the IOTA ecosystem by allowing developers to build dApps before introducing them to the mainnet. It offers support for native tokens, NFTs as well as smart contracts with its own native currency $SMR.

ShimmerEVM & IOTA 2.0

The major developments scheduled this year include ShimmerEVM and IOTA 2.0 which will help increase efficiency within the shimmer Network by enabling faster transactions between Ethereum compatible networks and other networks like Polkadot or Avalanche using bridges from one chain to another chain while also providing enhanced security through strict validator controls over assets transfers across chains owned by different people/organizations. Likewise, these updates will further help in boosting innovation in the blockchain space by offering more flexibility when building applications on top of it.

Benefits Of These Updates

The introduction of several new features along with upcoming updates like ShimmerEVM & Iota 2.0 means that developers now have more options available when building applications on top of the blockchain space while simultaneously increasing efficiency within their respective networks by enabling faster transactions across different platforms while providing enhanced security over asset transfers between entities owned by different people/organizations . This is beneficial for both developers who are looking to build innovative dApps as well as users who want faster transaction times without compromising their safety or privacy on various platforms across networks linked together using bridges from one chain to another chain owned by different people/organizations .

Conclusion

In conclusion, Firefly’s arrival with several new features coupled with upcoming updates such as ShimmerEVM & Iota 2.0 mean that developers now have more options available when building applications on top of this blockchain space while simultaneously increasing efficiency within their respective networks by enabling faster transactions across compatible platforms while providing enhanced security over asset transfers between entities owned by different people/organizations; all very beneficial for both developers looking to build innovative dApps as well as users wanting quicker transaction times without sacrificing safety or privacy