TL;DR
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The EOS Foundation has launched the beta version of its Ethereum Virtual Machine emulation.
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The EVM will allow interoperability across the EOS and Ethereum ecosystems.
The EOS Ethereum Virtual Machine Is Now Live
The EOS Network Foundation (ENF), stewards and lead developers of the EOS Network, announced via a blog post a few hours ago that the EOS Ethereum Virtual Machine (EVM) mainnet is now live.
According to the ENF, the launch of the EVM will enable interoperability across the EOS and Ethereum blockchains. EOS Network Foundation CEO Yves La Rose pointed out that this latest development represents the firm's commitment to building a multi-chain future.
ENF explained that the EOS EVM is an emulation of the Ethereum Virtual Machine and is deployed as a smart contract on the EOS blockchain. It runs decentralized applications written in Solidity, the native programming language of Ethereum.
La Rose added that;
“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, ultra-fast speeds, and reliability of the EOS Network. EOS EVM is a significant milestone and represents our commitment to a multi-chain future.”
EOS EVM Seeks To Tackle Ethereum’s Scalability Issues
The ENF team pointed out that Ethereum's scalability issues create challenges for mass-scale DApp deployment. It intends to bridge this gap thanks to the launch of the EOS EVM.
The team intends to solve the scalability issue by combining the resources of the Ethereum community with the performance of the EOS Network.
The recent completion of the Shanghai upgrade on the Ethereum network could see more projects prioritize the implementation of EVM compatibility within their networks.
Earlier this month, Astar Network launched smart contracts that supported two virtual machines, the EVM and the WebAssembly Virtual Machine. More networks could follow EOS’s footsteps in the coming month.