Bitfinex First Main Trade to Record Shimmer, Heralding Daybreak of New ‘Chain-of-Chain’ Ecosystem
30 September 2022 in Media Releases
ROAD TOWN, British Virgin Islands – September 30 2022 12:00 PM UTC – Bitfinex (https://www.bitfinex.com/), a state-of-the-art digital token buying and selling platform, is the primary main change to help Shimmer (SMR), the official incentivized staging community and chain-of-chains of IOTA (MIOTA), an open-source, permissionless distributed ledger.
Shimmer and its tokenization framework creates the idea for the protocol to develop into a multi-chain community enabling interoperability throughout blockchains that’s feeless and permits for bridgeless cross-chain transfers and composability, in keeping with the IOTA Basis.
The IOTA Basis advocates feeless tokenization as representing an evolution within the digital token economic system and an advance from the ever-present good contract based mostly ERC-20 tokens. Having the ability to tokenize something in an occasion on a Layer 1 chain positions Shimmer as a feeless “chain of chains”, making the SMR token the pure customary to “tokenize every little thing,” in keeping with the IOTA Basis.
Bitfinex was the primary change to checklist IOTA in 2017, and is in the present day the primary main change to checklist its very first offspring, Shimmer.
“Shimmer comes with a robust tokenization framework, providing unprecedented utility for feeless Layer 1 tokenization, and on the similar time will supply scalability and composability for good contract chains in a multi-chain structure,” mentioned Dominik Schiener, Chairman of the Board of Administrators and Co-Founder on the IOTA Basis. “We’re extraordinarily completely satisfied to have Bitfinex as a serious change itemizing our imaginative and prescient of a ‘chain of chains’, permitting anybody to harness the ability and potential of Web3.”
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