EOS launched EVM support which hopefully will revitalize its platform and assist developers whom the ENF claims were inadequately supported under previous leadership so let’s read more in today’s latest EOS news.
The web 3.0 dapp platform EOS finished the work that is needed to bring the Ethereum virtual machine to the network and this means that the developers will be able to build and transfer more blockchain apps to the network using familiar tools and coding language. EVM is the software platform used to create decentralized applications on ETH and it is a virtual programming stack embedded in the ETH full node. The programming language used to create smart contracts which run on EVM is called Solidity.
EOS launched EVM support which stores the entire state of the network and determines the rules on how the network changes state with each block given that ETH is the first and biggest smart contract platform, it makes other EVM blockchains compatible and became the industry standard. This allows the platforms to easily adopt the new developments that are created on ETH using the same code. Integrating EOS’s new Trust EVM will grant the network the ability and the virtual machine which runs as a smart contract enables most throughput than other EVMs at 10,000 TPS while Visa handles around 1700 transactions per second.
Trust EVM will bring the new generation of DEFI and GameFI with limitless possibilities when combining the speed and the cost of EOS for Solidity-based apps that run on the EOS EVM. In addition, the EVM runtime will maintain complete compatibility with the rest of the EOS blockchain which means that the tokens can be trustlessly moved between different blockchains. EOS was founded by BLock.one of which is a blockcahin software company but the EOS network Foundation replaced the organization in leading the platform’s growth.
The ENF blamed the company for failing to attract a critical mass because of a lack of community support. In terms of price, eOS saw huge popularity during the crypto boom in 2021 but it has since descended 88% below the ATH failed to recover. To counteract, the ENF supported builders via multiple grant and incentive programs and the community also halted millions in ongoing payments to block one.
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