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The IOTA Foundation has been working to bring the ShimmerEVM mainnet to the market. Web3 Builder and Venture Fund Nakama Labs has recently shared an update on how its battle-testing the ShimmerEVM beta version by conducting some spam attacks on ShimmerEVM.

In its recent tweet, Nakama Labs stated that Shimmers capabilities are evident as it achieves a peak of 700 transactions per second (TPS), resulting in an impressive $250,000 per hour to sustain this attack on the mainnet.

The IOTA development team has been diligently developing the Shimmer Ethereum Virtual Machine (EVM), which has already been launched as a testnet version in the market. The ShimmerEVM testnet chain introduces the first EVM-compatible smart contract chain within the Shimmer network. This chain enables efficient, fast, secure, and parallel processing of smart contracts on a scalable platform.

With these capabilities, the ShimmerEVM can challenge the likes of Arbitrum and Binance Smart Chain within the decentralized finance (DeFi) space. Nakama Labs noted: Shimmer isnt just about scalability or fast tx, its a perfect fit for a vast Web3 ecosystem. With EVM at its foundation with unique features, it empowers creators to bring their innovative ideas to life.

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Nakama Labs Tests ShimmerEVM Resilience In Recent Test - Crypto News Flash