Blockchain

EOS EVM Testnet Goes Live To Prepare For Important Updates In April

Key Points:

On Tuesday, a testnet for the EOS Ethereum Virtual Machine (EOS EVM) functionality went online ahead of an April launch.
The EVM is hosted inside an EOS smart contract and promises to provide consumers and developers with high-speed transactions at low prices.
The mainnet beta will be version 0.4 of the EOS EVM, with upgrades and enhancements coming in the weeks and months after the launch.

EOS recently announced that its Ethereum Virtual Machine (EOS EVM) had gone live in preparation for the mainnet in April.

The new EOS EVM capability lets developers create and deploy smart contracts written in Solidity, Ethereum’s programming language.

The EVM is hosted inside an EOS smart contract and promises to provide consumers and developers with high-speed transactions at low prices. The move intends to boost decentralized finance (DeFi) development on the EOS network, which will ultimately increase the value of EOS coins.

After the completion of the EOS EVM code on March 22, the EOS EVM testnet deployment is a critical stage in the process. The new testnet launch includes new features not seen on the presently deployed Jungle testnet version.

With significant support from application developers, EOS is now achieving its objective of becoming a popular blockchain. One of the recommended and accomplished steps is to open the EVM solution, offering the most welcoming environment for Ethereum programmers feasible.

Lastly, provided the upgrade works well. Customers will subsequently be able to withdraw EOS tokens from an exchange and deposit them directly into their EVM account, which they may set up for free using the Metamask wallet.

Nevertheless, the bridge will charge a tiny gas price for incoming transactions to offset the EOS network resource expenses.

The mainnet beta will be version 0.4 of the EOS EVM, with upgrades and enhancements coming in the weeks and months after the launch. Once completed, EOS EVM will enable the smooth movement of money and data across numerous blockchain networks, which is critical for EOS’s development and acceptance.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.