In the early hours of April 14 the EOS Network Foundation (ENF) announced the beta launch of the EOS EVM (Ethereum Virtual Machine). Following months of testing on EOS test networks and the recent success of a security audit, version 0.4 (beta) of the EOS EVM has finally been launched on mainnet.
This monumental development opens up interoperability between the EOS and Ethereum ecosystems, enabling Solidity (Ethereum and EVM) developers to build and deploy their applications on EOS. Solidity developers are now able to leverage the industry-leading performance and low transaction fees of the EOS blockchain through EOS EVM.
Built as an emulator of the Ethereum Virtual Machine and deployed inside an EOS smart contract, EOS EVM offers developers from the Ethereum ecosystem a highly performant blockchain infrastructure using a programming language they are already familiar with. It is also an opportunity for EOS developers to tap into the vastness of the Ethereum ecosystem and its large network effect.
By connecting these two distinct blockchain networks, EOS EVM offers EOS stakeholders a larger network to interact with, and offers Ethereum a cheaper and more performant blockchain environment to operate on.
Developers are afforded additional benefits for building on the EOS EVM:
The mainnet launch of the EOS EVM beta also comes a few hours after the EOS Network Foundation (ENF) announced that it had secured a $60 million deal (link) through a strategic partnership with DWF Labs. A deal that will see an accelerated growth of the EOS ecosystem. Additionally, the $100 million EOS Network Venture (ENV) fund will also be making investments towards the growth and adoption of the EOS network.
Initially scheduled for a Q4 2022 launch, the delay and rescheduling of EOS EVM has proved beneficial as it has given the ENF the opportunity to make it a much stronger product in the market, and an even stronger chance to make it a great industry success.
In the coming weeks and months of its beta phase, the EOS EVM will continue to be upgraded and improved upon. In other words, this will be the phase for EOS EVM to grow and gain market share through the various available methods and initiatives of which there are many.
With that in consideration, there will be a lot of exciting developments with partners as EOS EVM looks to be the go-to EVM for developers.
● EOS EVM Mainnet Beta is finally live (Tweet)
● EOS EVM Mainnet Is Live! (Press Release)