EOS Network plans to invest $20 million to launch an Ethereum Virtual Machine (EVM) and GameFi next month. The open-source blockchain platform formally pledged its devotion to the project in a tweet on Monday morning.
EOS Gearing Up for April’s EVM Launch
According to the tweet, EOS’s EVN will be the fastest and have the most money available for developers.
The Ethereum Virtual Machine is a computation engine that acts like a decentralized computer with millions of executable projects. EVM is a core feature of Ethereum that runs executions and deploys smart contracts.
“Launching on April 14th, EOS EVM will redefine the limits of what’s possible with an EVM. With $20M of funding available, why wouldn’t you build on the industry’s best EVM? This $20M commitment from ENV has the goal of quickly establishing #EOS EVM as the market leader. We want to attract the industry’s best developers and teams to build on EOS EVM,” Yves La Rose, EOS CEO, tweeted.
EOS’s EVM will have a handful of virtual machines to compete with, including Polygon, Telos, and Solana, among others. Telos innovated the EVM by being the first to develop a virtual machine compatible with the Layer-1 blockchain.
Yves La Rose Boosts About EOS EVM Capacity
The CEO also claimed that the upcoming EVM would be 25x faster than that of AVAX and 3x faster than Solana and BNB.
“It may be hard to believe, but #EOS EVM is 25x faster than AVAX, and 3x faster than Solana or BNB,” Yves La Rose tweeted.
According to the tweet, the EOS EVM is estimated to process an average of 814.25 swaps per second, compared to Solana’s 273.34 and BNB Chain’s 194.61.
