Telos continues to bolster its blockchain network by extending its reach to service different industries and diverse user needs. Its community is currently testing out an offering for developers of the world’s second most populated blockchain network – Ethereum. The offering/service will enable Ethereum developers to further scale their applications, in essence, be able to support a far greater number of users.
To achieve this, Telos is utilizing the open-source ‘eosio.evm’ solution, recently developed by Syed Jafri in response to a coding challenge initiated by Block.one. This means the Telos blockchain has now taken the lead in porting to some of the world’s best blockchain developers and enabling them to run Ethereum smart contracts on the Telos blockchain.
The benefits of running Ethereum smart contracts on an EOSIO based chain, in this case on Telos, is that applications will be able to operate much quicker, with higher throughput, no fees, and a more fluent experience overall.
With Telos EVM, people can finally build and deploy decentralized applications the way they were meant to be, with high speeds, no middlemen, and no limit on users. Importantly, developers don’t have to use a new codebase to take advantage of Telos EVM. They can use Solidity to easily deploy Telos EVM smart contracts.Suvi Rinkinen (CEO of the Telos Foundation)
Telos EVM (Ethereum Virtual Machine) will no doubt play a big part in pushing forward the future of Inter-Blockchain Communication (IBC). This could unlock the potential for applications to simultaneously run on multiple blockchains; merging the different user bases into virtually a single environment.
Telos EVM has been live on the testnet since June 18, 2020, and is expected to launch on the Telos mainnet in July. Developers are encouraged to test out how it works and see what improvements it can offer their applications, especially those built using Solidity, Ethereum’s primary programming language for writing and implementing smart contracts.
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