EOS EVM goes live before the mainnet deployment scheduled for April

Updated: 28 March 2023

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Crypto project EOS has been working on developing an EOS Ethereum Virtual Machine (EVM) feature for some time now, and according to a recent announcement, the feature is almost ready for the mainnet. The mainnet deployment is expected to come at some point next month. For now, however, the project has entered the final stage of testing by launching the EOS EVM on a testnet this Tuesday, March 28th.

The project’s EVM solution is currently housed in one of the EOS smart contracts. Its goal is to offer transactions performed at high speeds and with very cheap fees, both for users and developers alike. The idea is to eventually bolster the development of decentralized finance within the EOS ecosystem, which would ultimately accrue value for the project’s native coin.

#EOS EVM is by far the industry's leading EVM. Single second block times offers the optimal combo of speed and compatibility.

Don’t believe me?

The $EOS EVM testnet is now live, so you can verify it yourself. https://t.co/8SiELhzPyJ

— Yves La Rose (@BigBeardSamurai) March 28, 2023

EVM will start a new chapter for EOS

Ethereum Virtual Machine is the environment that contains all Ethereum accounts and smart contracts. As such, it serves as a virtual computer which developers use to create decentralized applications. If an EVM gets deployed on another blockchain, it essentially allows developers to create new dApps and DeFi applications, making them similar to what they are on Ethereum itself.

This is something that EOS has wanted to achieve for a while now, and it has a lot of future plans that require an EVM within its ecosystem. The plans are considered to be EOS’ second innings, and the EOS foundation explained its goals in a January post. It said that “Many of the developers who have left EOS have done so not because they want to, but because Ethereum, for all its deficiencies, is where the action is.”

With that said, EOS intends to bring those same capabilities to its own network now, and allow users the same building conditions and opportunities. The post added that EVM compatibility is essential for EOS’ potential, not only on the technical side of things, but also from a business perspective.

By introducing an EVM to its network, EOS will be able to welcome new developers who are experts in Solidity — Ethereum’s own programming language. The same goes for users who preferred dApps created in Solidity. An EVM on EOS is an excellent bridge that would bring users and talents alike, once again enriching EOS’ own ecosystem.

Come work with us on the future of Web3.#EOS ? #ETH solidity developers

Take your game to the next level ?

— Yves La Rose (@BigBeardSamurai) March 28, 2023

Right now, the EOS EVM contract is available on eosio.evm. There is also a token bridge that would allow users to transfer compatible ERC-20 tokens to EOS, and it can be found on bridge-testnet2.trust.one.

So far, the plans and new developments have not had any major impact to EOS’ native cryptocurrency.

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