EOS to Revive the Blockchain with EVM compatibility

EOS, a blockchain that raised $4 billion in its initial coin offering (ICO) with little to show in its early years, is gearing up for a comeback.

EOS Network Foundation, led by CEO Yves La Rose, is planning a consensus mechanism upgrade, an Ethereum Virtual Machine (EVM) solution, and a renewed growth strategy. The EVM mainnet is scheduled for release on April 14, with updates and improvements planned in the coming weeks and months.

“Combining the performance of EOS with the familiarity of Ethereum, Solidity developers are in for a treat. At 800+ swaps per second, $EOS EVM will be BY FAR the fastest EVM, benchmarked 3x faster than Solana + BNB and 25x faster than Avax” La Rose Tweeted

EVMs are the environment in which all Ethereum accounts and smart contracts live. By deploying EVMs on other blockchains, developers can build dApps and DeFi applications similar to those built on Ethereum. This is a large part of EOS’s future plans. The foundation says that “EVM compatibility is essential to the potential of EOS, not just technically but also from a business perspective. Ultimately, it is essential that we welcome more Solidity developers and users to EOS, and an EVM on EOS is an excellent bridge to do just that.”

The foundation has also launched a grants program to fund developers working on such applications. Grants will range from $10,000 to over $50,000, based on criteria such as the size and scope of the initiative. They can be provided to builders of wholly-new products or to fund maintenance and upgrades of existing tools.