The EOS Network foundation will launch the EOS Ethereum Virtual Machine (EVM) on April 14th.
The EOS blockchain aims to make a name for itself in the cryptocurrency and blockchain domain as a part of its global expansion strategy.
Messari, a cryptocurrency analytics organization, has revealed that Yves La Rose, the Chief Executive Officer (CEO) of the EOS Network Foundation, is driving preparation for an update to the consensus mechanism called Ethereum Virtual Machine System (EVM), as well as overall revitalized intensive growth strategies.
As per EOS Foundation’s CEO, the EVM mainnet will be released officially on April 14th, with upgrades and enhancements scheduled in the next weeks and months.
In the future, the EOS EVM will be ‘by far’ the fastest EVM ever. Yves La Rose claimed it would be 3x faster than Solana and Binance and 25x faster than AVAX. Interestingly, it can do more than 800 swaps per second.
The EOS network raised nearly $4 million in an initial coin offering (ICO) in 2017. In May 2018, EOS, the native coin of EOS Network, once recorded the highest market capitalization peak at $14 billion, affected by the roller-coaster ride of the crypto market.
EVMs is where all Ethereum accounts and smart contracts reside, acting as virtual computers developers use to create decentralized applications (dApps).
Ethereum Virtual Machine system (EVMs) is a large part of EOS’ future plans. When implemented on other blockchains, EVMs can enable developers to develop dApps and decentralized finance (DeFi) applications in the same way they can on Ethereum.
Also, the CEO added that “there’s a huge opportunity available for developers who want to build on $EOS EVM early and be first-to-market.”
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