IOTA EVM Joins ChainPort’s Ecosystem, Enabling Feeless Token Bridging

• ChainPort has announced the integration of IOTA EVM as the 24th chain supported on its ecosystem and opening up new opportunities for its users.
• The integration allows developers to bridge tokens to and from the IOTA ecosystem through ChainPort and gives them access to a scalable network with feeless transactions.

ChainPort, a cross-chain bridge that offers full interoperability and enhanced security, has announced the integration of IOTA EVM in its ecosystem.

ChainPort completed the integration this week, making IOTA EVM the 24th chain to be supported. The integration comes just two weeks after the platform integrated Linea, a quantum-resistant Layer 2 zkEVM chain.

New chain integration 

We are happy to announce that ChainPort has integrated IOTAevm!
 
Projects can now bridge tokens to the @IOTA ecosystem leveraging IOTAevm's advanced smart contract platform, high scalability, and innovative feeless transactions.

Read more … pic.twitter.com/ESrBL7y4Uj

— ChainPort (@chain_port) July 11, 2024

In an accompanying blog post, ChainPort stated that the integration “opens doors for developers and web3 projects, enabling them to smoothly bridge tokens to and from the IOTA ecosystem via ChainPort.”

Interoperability is becoming a key requirement for any chain as users seek diversity and alternatives. Cross-chain bridging has emerged as the best solution currently. This is where ChainPort excels, offering users all common bridging methods, from wrapped asset bridging to native token bridging. The platform is also connected to several other bridges, ensuring that users get the most efficient routes by price, security and speed.

IOTA EVM, which is the network’s smart contract framework, is the latest to join this ecosystem. It has become a critical cog of Dominik Schiener’s vision for IOTA (as he discussed in this interview with Crypto News Flash), facilitating up to 700 transactions per second. This allows it to anchor a wide range of Web3 applications, from gaming and SocialFi to NFTs and DeFi.

ChainPort noted:

By integrating IOTA EVM into ChainPort’s ecosystem, users gain access to a robust and scalable smart contract platform with feeless transactions. This integration expands the possibilities for dApps and enhances the overall web3 ecosystem’s interoperability and utility.

ChainPort’s integration comes just days after Goldsky made a similar announcement. Goldsky is a data solutions provider and operates one of the industry’s leading indexers. With the integration, Goldsky allows IOTA EVM users to build cutting-edge dApps with data-driven experiences.

These integrations are creating a foundation for impactful products. The latest is an Eviden Digital Product Passport (DPP), built by Eviden, a global tech giant with over 47,000 employees that records over $5 billion in annual revenue. The new passport covers any item from sourcing to its consumption, enabling accountability, verification and authenticity.

Meanwhile, IOTA trades at $0.1594, gaining just under 1% in the past day as trading volume defied the weekend slump to rise by 15%.