Zokyo clears audit report for IOTA’s EVM L2

IOTA received clearance from Zokyo after the audit process concluded. This pertains to its EVM L2, which will likely enter the market soon. The development has been shared by IOTA and confirmed by Zokyo. This marks the completion of the final and the most crucial step in preparation for the launch. Zokyo has called this a triple success in its announcement, adding that IOTA scores a perfect hundred in the report.

The Tangle technology by IOTA now aims to empower global protocols for a connected future backed by top-tier security. Community members have called this great news and congratulated the team for their great work.

IOTA recently announced that it is gathering support from the UAE Ministry of Economy for its $10 million fund. It is now looking forward to supporting the local and global ecosystem by bringing forward innovative technology that enables trade and infrastructure as per demands. The support from the UAE Government came in response to IOTA announcing its plans to have IOTA Grants for supporting creators and innovators across the globe.

While it strengthens the position of IOTA in every possible region, it also contributes to the UAE’s mission of becoming a global hub for innovation, especially in the Web3 sphere.

IOTA Grants have been designed to back the ideas that have the potential to lighten up the future but lack the resources to get started or sustain the operations for more robust growth. IOTA Grants strengthens the development of projects within the boundaries of Web3 to ensure that every deserving idea sees the light at the end of the tunnel. It will function as a pilot, helping IOTA to gather interest in the idea before making it a mainstream extension.

There are three categories on which IOTA Grants will focus – open-source development, research, education, and events. Innovators can participate in IOTA Grants by filling out the form and participating in the interview with the IOTA Grant Committee. The objective is to get evaluated by the members before they extend the financial assistance.

The development comes after a week when IOTA Kickstarter Governance votes in Shimmer and IOTA. Participants only had to keep their tokens in voting until the end of the counting period for maximum impact.

Zokyo had previously highlighted the dangers of JSON Injection in NFT metadata. It talked about two aspects – how attackers exploit Web2 vulnerabilities in Web3 and strategies for users to protect their assets.

Approval of IOTA’s EVM L2 gives the green light to IOTA to proceed with its project to the full-fledged launch. IOTA has acknowledged that it marks the last and the most crucial step in the launch. This means that the community could soon gain access to IOTA EVM. Zokyo has shared the news by calling it a triple success, adding that IOTA can now empower global protocols with security for a connected future.

Roxanne Williams

Roxanne Williams has recently joined as a market reporter for CryptoNewsZ - the 24/7 crypto news site, where she produces recent stories, technical analysis and price updates on world's leading cryptocurrencies.

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