Can EOS EVM revive the EOS blockchain, and what opportunities await developers and investors? Upgrade’s analysis

As the launch date of EOS EVM Ethereum Virtual Machine is a series of smart contracts that allow developers to deploy and run dApps approaches, the project is becoming increasingly popular among users. For some, this is just a first look at the ecosystem, but for others who are already familiar with it, the upcoming event will be “the greatest comeback,” which could return EOS to its old strengths. Read on to find out more about what’s planned for April 14 and why it’s important.

Two weeks before the…

April 14 is the long-awaited release of EOS EVM, which has been in the works for over a year. The two stages, EVM code completion, and new testnet launch, are behind us, and the only step left before the main launch is the security audit.

Earlier this week the final testnet before mainnet launch for the #EOS EVM went live

This article dives into some frequently asked questions about the EVM and provides information on how developers can get started building quickly

Read Now https://t.co/xjSX4SfoLe pic.twitter.com/ZhnRcK8AWr

— EOS Network Foundation (@EOSnFoundation) March 29, 2023

Once launched, EOS is expected to become available to many new developers as well as third-party ecosystem projects because it will be able to run the same code as Ethereum. EOS EVM is an emulation of Ethereum EVM, but in an EOS smart contract, which gives greater speed, compatibility, and performance. According to EOS Foundation CEO Yves La Rose, the latter is 800+ swaps per second in the ecosystem, which is four times higher than Solana.

EOS is currently considered one of the most scalable, divisible, and programmable digital coins on the market, running on Delegated Proof-of-Stake (DPoS). This is a consensus mechanism in which stakeholders can choose node operators.

It is essentially one step away from launch, which is a detailed security audit of the EOS EVM.

Now the solution to the Ethereum Virtual Machine project lies in one of the smart contracts, which provides high-speed transactions with low fees. And these benefits are extended to both ordinary users and developers. Ultimately, the development of DeFi in the EOS ecosystem is supposed to popularize the project’s native coin, which will increase its value.

The EOS EVM contract is already available. You can find it at the link. There’s also a token bridge that can be used to converse transactions with compatible ERC-20 tokens in the EOS ecosystem.

Why is this important?

If all goes according to plan and the upgrade is successful, it is expected that customers will be able to withdraw EOS tokens from the exchange and deposit them into their EVM account. The process will be free, such as with the Metamask wallet, but the bridge will charge a gas fee for incoming transactions. These funds will go to offset the costs of EOS network resources.

In this way, customers will have access to a system that can move funds and data seamlessly across multiple blockchain networks. Which is important both for the convenience of ordinary users and for the recognition of the EOS ecosystem and its further development.

However, according to Twitter user TrimBot, EOS has one problem that stands out. In his opinion, there is a shortage of developers, but that too will probably be solved soon.

“Having an ecosystem fund of over $100M allocating $20M to fund EOS EVM projects almost guarantees that the problem will be solved. Keep an eye on the number of developers after April 14, after the main network launches,” he said.

EOS’s current price and predictions

Despite existing plans and some of the initiatives that have been implemented, the native EOS coin is not yet showing rapid growth, but it is not falling either. At the time of this writing, the asset is trading at $1.1794, down just 2,13% from 24 hours ago. 

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At its peak, however, EOS was worth $17.97, indicating that the token has dropped in value 15,1 times. Whether the asset will return to its previous numbers is impossible to say, but many are betting that the price will rise to launch EOS EVM. For example, the user Dip Bender plans to bet on several pairs with EOS in this connection, the largest of which will be EOS/BTC and EOS/USDT (not financial advice).

And according to user Ocean, a strong pumping of the token is expected in the near future.

$eos will pump harder in upcoming days

Get ready for the movement https://t.co/VyR42hAIiW

— Ocean 🌊 (@cryptoprakhar) March 28, 2023

However, not everyone agrees that EOS is waiting for success, and even in the comments under Ocean’s post, you can find a skeptical comment. The recent launch of Polygon zkEVM may also be a reason to believe that the token will not go up after the launch of the mainnet.

The event took place a few days ago, and, as in the case of EOS, many were hoping for a further rise in the value of MATIC, the native token of the Polygon ecosystem. However, at the time of launch, the price had not increased and had even fallen by 2,81%. Moreover, the situation has not improved so far, and the drop in the last 24 hours is 1,74%. That’s why even if everything is successfully launched, it may not influence the price of EOS in any way.

What do you think will happen to the price of EOS after the mainnet launch? Write about it in the comments below.