EOS tries to pick up the pieces – Launched in 2018, the blockchain EOS has often been presented as a ethereum killer. Failing to replace Ethereumnow it is inspired by deploying its EVM.
EOS launches its own EVM
The EOS blockchain is a survivor of the 2017 bull run. Launched in 2018 after raising over $4 billion through an ICO, EOS never really took off. Indeed, all eyes were on Ethereum and EVM-enabled chains.
Now, EOS is trying to make a comeback by accepting new codes from the cryptocurrency market. In a publication dated January 14, EOS unveiled its ambitions ofEthereum VirtualMachine (EVM).
Subsequently, on March 27, the solution was actively tested via the launch of a dedicated testnet. Finally, the April 14 mark release date beta on the EOS mainnet.
“The EOS EVM is an emulation of the Ethereum EVM, hosted in an EOS smart contract. It offers features equivalent to other EVMs on the market, but with unmatched speed, performance and compatibility. »
Statement of EOS
An opening towards decentralized applications
By integrating the EVM, EOS opens up to all decentralized applications hosted on Ethereum and to other EVM chains. Indeed, EVM compatibility was at the heart of the previous bull run.
The EVM of EOS intends to provide a solution to the problems of scalability and slowness of transactions on Ethereum. To do this, EOS relies on its one-second block time and a capacity of over 800 swaps per second with low fees.
Note, however, thatEOS arrives after the war. Indeed, the project launches its EVM, while EVM compatibility was a standard in the previous bull run. Conversely, the current developments rather tend to favor second layer solutions.
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$60 million raised from DWF Labs
The EOS Network Foundation also announced a partnership strategic with the investment fund DWF Labs. The partnership, valued at $60 million, aims to support the growth and development of the EOS platform.
DWF Labs will support the EOS Network in two ways. On the one hand, by buying for $45 million of EOS tokens. On the other hand, by investing $15 million in EOS-based businesses and projects.
Together, the two entities hear revolutionize the blockchain ecosystem and provide developers with the tools and resources needed to create a more decentralized and interconnected future. It remains to be seen whether the proposed developments manage to keep up with the innovation taking place on other blockchains.
Thus, the blockchain seems to have solved its internal worries. In fact, these opposed in 2021 the EOS Foundation and Block.onethe company behind the development of the protocol.
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