On April 14th, the EOS Ethereum Virtual Machine (EVM) will be made available to the public by the foundation of the EOS Network.
As part of its goal for expanding its presence around the globe, the EOS blockchain is working to establish itself as a leader in the cryptocurrency and blockchain industries.
Messari, a company that analyzes cryptocurrencies, has divulged the information that Yves La Rose, the Chief Executive Officer (CEO) of the EOS Network Foundation, is driving preparation for an update to the consensus mechanism known as the Ethereum Virtual Machine System (EVM), as well as overall revitalized intensive growth strategies.
According to the Chief Executive Officer of the EOS Foundation, the EVM mainnet will be launched formally on April 14th, with more upgrades and improvements planned for the following weeks and months.
The EOS Electronic Voting Machine (EVM) of the future will be “by far” the fastest EVM that has ever been created. Yves La Rose said that it would be three times as quick as Solana and Binance and twenty-five times as fast as AVAX. It’s interesting to note that it can do over 800 swaps per second.
In 2017, the EOS network successfully completed an initial coin offering (ICO) that raised close to $4 million. EOS, the native token of the EOS Network, once registered the largest market capitalization peak in May 2018, at $14 billion. This was despite the fact that the cryptocurrency market was experiencing a roller coaster ride at the time.
EVMs, which are essentially virtual computers that serve as the host for all Ethereum accounts and smart contracts, are used by developers in the process of building decentralized apps (dApps).
The Ethereum Virtual Machine technology, often known as EVMs, will play a significant role in the development of EOS’s future goals. EVMs, when implemented on other blockchains, may provide developers with the same opportunities to build decentralized apps (dApps) and applications for decentralized finance (DeFi) as they have on Ethereum.
In addition to this, the CEO said that “there is a significant potential there for developers that want to build on EOS EVM early and be first-to-market.”
Compiled by Coinbold