Shimmer’s Layer 1 offers feeless transactions.
ShimmerEVM (Layer 2) presents smart contracts with customizable gas fees.

As we delve deeper into the blockchain terrain, Shimmer and IOTA emerge as intriguing subjects, specifically regarding their transaction fee models. Having a closer look at our view on the updated tweet by Collin Brown on “Unraveling the Shimmer Enigma” offers clarity.

1/3) Unraveling the Shimmer Enigma: Feeless vs. Fee-Empowered

Ever wondered why Shimmer is feeless while ShimmerEVM embraces gas fees? Let’s explore the differences between #Shimmer‘s feeless transactions and #ShimmerEVM‘s gas-powered smart contracts. #IOTA #Shimmerpic.twitter.com/SXgOt60Jeb

— Collin Brown (@CollinBrownXRP) September 21, 2023

Echoed by Brown’s tweets, the Shimmer network (L1) is founded on the Directed Acyclic Graph (DAG) technology, mirroring IOTA. This architecture, devoid of any fees, guarantees scalability, unmatched security, and energy efficiency. Moreover, the Shimmer L1 ecosystem doubles as the testing arena for IOTA’s future innovations.

Merging Platforms: Introduction of ShimmerEVM L2

Perched atop L1, ShimmerEVM (L2) marks the integration of the ecosystem’s first EVM-compatible chain. This bridge not only facilitates smart contract functionalities but also acts as a nexus between Shimmer and Ethereum-centric decentralized applications (dApps). However, an important distinction arises here: L1 is feeless, but ShimmerEVM incorporates fees essential for the smart contract mechanics. But the silver lining is the adjustability of these fees, allowing developers to produce economically efficient dApps.

Shimmer’s Paradigm: A Different Economic Blueprint

Steering clear from the conventional miner-dependent blockchains, Shimmer treads a unique path. Employing a distinctive consensus mechanism, Shimmer eliminates imposing network security costs on its users. This strategy bolsters the appeal of L1 among users and commercial entities alike. In tandem, it paves the way for a fee marketplace model for L2’s ShimmerEVM.

When fused, both layers form a formidable duo, priming the platform for unparalleled growth in the burgeoning realms of web3 and DeFi.

For those seeking a deeper dive, Shimmer’s official tweet provides an extended perspective:

Why is Shimmer feeless when ShimmerEVM has gas fees? In this thread, we’re looking into the differences between #Shimmer network’s feeless transactions, and the L2 EVM-compatible smart contract chain anchored on the Shimmer L1 network: #ShimmerEVM pic.twitter.com/SGVh23gyCc

— Shimmer (@shimmernet) September 21, 2023

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Filed under: Bitcoin - @ September 22, 2023 7:04 am