EOS launches EVM for Solidity developers

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  • EOS Foundation enables interoperability between the EOS blockchain and Ethereum blockchain with the launch of the Ethereum Virtual Machine for Solidity developers.
  • The EOS EVM runs decentralized applications written in Solidity, the native programming language of Ethereum.

The EOS Foundation has announced the launch of the Ethereum Virtual Machine for Solidity developers. This will enable interoperability between two of the biggest networks in the market. EOS Network will accelerate its growth by using open-source code libraries and tools already available in the Ethereum ecosystem. Ethereum developers will also get the advantage of cheap transaction fees, fast transactions, and the deployment of mass-scale decentralized applications offered by the EOS Network.

Once regarded as the Ethereum killer, EOS is now taking a different approach and is now utilizing the resources offered by the Ethereum blockchain to keep up and possibly get ahead. EOS will look to accelerate its development by giving its developers and users access to the Ethereum blockchain through the EOS Ethereum Virtual Machine.

Solidity is used by the vast majority of web3 developers on Ethereum, but developers have struggled because of the network’s inefficiency with high fees, slow speeds, and inability to scale. With the EOS EVM running decentralized applications written in Solidity, the native programming language of Ethereum, EOS will get access to Ethereum resources. This launch introduces developers to the best of both sides- Ethereum’s resources and the EOS network’s superior performance.

Speaking on the launch, Yves La Rose, Founder and CEO of the EOS Network Foundation noted;

Our goal is to create an interoperable future where the gaps between blockchains, developers and end users are bridged. EOS EVM does just that,

With EOS EVM, it is now significantly easier for Ethereum developers and end users to take advantage of the low fees, ulta-fast speeds, and reliability of the EOS Network. EOS EVM is a significant milestone and represents our commitment to a multi-chain future.

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The launch comes just days after the EOS Network Ventures’ public commitment to invest $20 million in GameFi and EOS EVM projects. The initiatives help drive the growth and mass adoption of EOS. Additionally, earlier today, DWF Labs confirmed an investment of over $60 million in a partnership with the EOS Network Foundation. In part, providing a $45 million EOS token purchase agreement and a $15 million pledge for EOS-based projects.

After a few years of reduced network development, the EOS community rallied together in 2021 to establish the EOS Network Foundation a not-for-profit organization that coordinates support to encourage the growth and development of the EOS Network, and the project has since made notable progress.

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At the time of press, the network’s native token is enjoying a positive wave in the market and has gained around 4 percent in the last 24 hours. Exchanging for $1.5, the digital asset is trading at a 94 percent discount from its all-time high of $22 achieved 5 years ago.

 

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