The EOS Foundation has announced the launch of the Ethereum Virtual Machine for Solidity developers. This will enable interoperability between the two largest networks in the market. The EOS Network will accelerate its growth by using open source code libraries and tools already available in the Ethereum ecosystem. Ethereum developers will also benefit from the low transaction fees, fast transactions, and mass-scale deployment of decentralized applications offered by EOS Network.
Once considered the killer of Ethereum, EOS is now taking a different approach and is now utilizing the resources offered by the Ethereum blockchain to keep pace and possibly get ahead of the curve. EOS will look to accelerate its development by giving its developers and users access to the Ethereum blockchain through the EOS Ethereum Virtual Machine.
Solidity is used by most web3 developers on Ethereum, but developers have struggled due to the network’s inefficiencies with high fees, slow speeds, and inability to scale. With EOS EVM running decentralized applications written in Solidity, Ethereum’s native programming language, EOS will gain access to Ethereum resources. The launch introduces developers to the best of both worlds – Ethereum resources and the superior performance of the EOS network.
Speaking at the launch, Yves La Rose, Founder and CEO of EOS Network Foundation said;
Our goal is to create an interoperable future where the gaps between blockchains, developers and end users are bridged. EOS EVM does just that,
With EOS EVM, it is now significantly easier for Ethereum developers and end users to take advantage of the low fees, ulta-fast speeds, and reliability of the EOS Network. EOS EVM is a significant milestone and represents our commitment to a multi-chain future.
The launch comes just days after EOS Network Ventures’ public commitment to invest $20 million in GameFi and EOS EVM projects. These initiatives help drive the growth and mass adoption of EOS. In addition, today, DWF Labs confirmed an investment of more than $60 million in partnership with the EOS Network Foundation. In part, providing a $45 million EOS token purchase agreement and $15 million worth of pledges to EOS-based projects.
