- The EOS Network Foundation launches Trust EVM.
- Trust EVM is the new virtual machine that will act as a smart contract on EOS.
- Trust EVM will have a block time of 0.5 seconds and TPS of 10,000+.
The EOS Network Foundation (ENF) has announced the completion of the work necessary to integrate the Ethereum Virtual Machine into the EOS network through a recent launch event on Twitter (NYSE:TWTR) Spaces. Consequently, this will pave the way for developers to use familiar blockchain tools and code on the network.
Called Trust EVM, the new virtual machine will run as a smart contract on the EOS protocol. Compared to other EVMs, it will be notably faster with 0.5 second block times and 10,000+ TPS. What’s more, the runtime is fully compatible with all of the EOS DApp ecosystem.
Welcome to TrustEVM#TrustEVM is an Eth Virtual Machine based on the EOS network, offering a turn-key solution for developers to operate their apps on an full #Ethereum-compatible chain while enjoying the high throughput, scalability, security and reliability from EOS. pic.twitter.com/LssUVv3mHR
— Trust – EOS EVM (@TrustEvm) April 19, 2022
With its fast block times and low latency, EOS can transform the entire EVM DApp ecosystem. Furthermore, micro-transaction-based GameFi apps built using Solidity can flourish on EOS through its extremely high throughput that enables micro-cent gas fees. Additionally, with DeFi apps reaping the perks of ultra-low latency, there will be high-frequency trading cases for regular EVM smart contracts.
Moreover, EOS Network Foundation Executive Director Yves La Rose talked in great detail about taking the reins from Block.One and the launch of Trust EVM:
Since essentially firing Block.one and taking over the EOSIO codebase, the ENF has been taking a multi-pronged strategic approach to mature EOS into the best-in-class Web3 smart contract platform and blockchain ecosystem. Since the start of this year, the ENF has established multiple working groups across many areas of expertise, published four research papers outlining 75 EOS Enhancement Proposals, formed a protocol development coalition with $8m in funding for its first year, and tripled our team size.
La Rose further adds, “Our first product, the Trust EVM will usher in the next generation of DeFi and GameFi with limitless possibilities when combining the speed, throughput, and cost of EOS for Solidity-based applications running on the EOS EVM. Trust EVM will revolutionize the DeFi landscape as it exists today.” ENF is a not-for-profit organization that coordinates both financial and non-financial support to facilitate the growth of the EOS Network. In addition, it also is the community-led platform that took over the EOS project from Block.One.