EOS Foundation has recently released its EOS EVM Mainnet Beta to improve operability between Ethereum and EOS. The EOS EVM emulates the Ethereum Virtual Machine and also allows seamless deployment of a number of dApps written in Solidity. Solidity is a popular programming language that is used by a great percentage of dApp developers. Furthermore, the EOS EVM would be deployed on the EOS network as a smart contract.
Ethereum (ETH) is often criticized because it suffers from different scalability-related issues, coupled with slow transaction speeds. Therefore, the EVM has been specially designed to work seamlessly with the network with its swift and uninterrupted operational capabilities. The EOS EVM would bridge the two blockchains, and gain access to the vast array of Ethereum’s resources, implementing its one-second block interval speeds and over 800 swaps per minute with low fees.
The Founder and CEO of EOS Foundation, Yves La Rose stated that the recent development holds supreme importance for the firm, and also paves the way for a seamless, interoperable future.
Rose further added,
“With EOS EVM, it is now significantly easier for Ethereum developers and end users to take advantage of the low fees, ultra-fast speeds, and reliability of the EOS Network. EOS EVM is a significant milestone and represents our commitment to a multi-chain future.”
The EOS EVM represents the firm’s commitment to a multi-chain future. Considering how the Ethereum network expects a wider adoption following the Shapella upgrade, a number of different projects have been considering the implementation of EVM compatibility on their respective networks.
EOS Foundation Joins Hands with DWF Labs
In other news, the EOS Foundation has also signed a deal of almost $60 million, with DWF Labs to support the EOS network. DWF would bolster the EOS Network by resorting to a $45 million EOS token purchase agreement, coupled with another $15 million pledge to invest in a number of projects in EOS. The main aim of the pledge is to boost acceptance levels of the EOS network and play a role in its expansion.
The Managing Partner of DWF Labs, Andrei Grachev stated,
“Our strategic partnership will enable us to explore new horizons and revolutionize the blockchain ecosystem together, providing developers with the tools and resources they need to bring about a more decentralized and connected future.”
People believe that the partnership would result in a brighter future for the EOS Network. DWF has made a name for itself as an investor in the crypto space. Its most recent investments include a $20 million fundraising for a derivatives trading platform, Synthetix, and an additional $40 million for the AI-based crypto protocol, Fetch.ai.
