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Summary

IOTA’s attempted comeback through integrating the Ethereum Virtual Machine (EVM) has faced delays, criticism, and a decline in rankings. The promised launch in Q1 did not materialize, leading to trust issues and market punishment.

Introduction

IOTA aimed to revitalize its project by incorporating the Ethereum Virtual Machine (EVM) at the beginning of 2024. However, the delayed launch and challenges with partners and applications have hindered progress, causing disappointment among investors and the community.

Main Points

The IOTA Foundation, led by Dominik Schiener, promised the integration of the EVM in Q1 but failed to provide a target date. The absence of necessary components like oracles, indexers, and tools, along with the need for collaboration with external teams, has further delayed the official launch indefinitely.

Despite attempts to showcase IOTA’s potential at the Token 2049 conference in Dubai, the project still struggles to implement complex smart contracts and EVM, unlike other industry players. This has resulted in IOTA hitting new all-time lows compared to Bitcoin, reflecting the loss of trust and credibility in the market.

Conclusion

The disillusionment of IOTA investors due to unfulfilled promises, loss of trust, and market underperformance highlights the challenges faced by the project. The failed EVM integration, lack of community support, and continuous decline in value indicate a significant setback for IOTA’s future prospects in the competitive crypto landscape.

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