EOS, a blockchain that raised $4 billion in its initial coin offering (ICO) is aiming for a comeback in the crypto space. After almost being written off by skeptics, EOS is now gearing up for a complete resurgence in network activity and growth with extensive support planned for application developers. The native eos (EOS) tokens once reached a market capitalization of $14 billion at a lifetime peak, and the blockchain is now looking to capitalize on its success and become a major player in the crypto space once again.
EOS Network Foundation, led by CEO Yves La Rose, is introducing a consensus mechanism upgrade, an Ethereum Virtual Machine (EVM) solution, and an overall renewed growth strategy. The EVM mainnet is set to launch on Apr.14, with updates and improvements planned in the weeks and months to follow. The EVM will be the fastest EVM available, with 800+ swaps per second, benchmarked 3x faster than Solana + BNB and 25x faster than Avax. This upgrade will provide developers with the performance of EOS combined with the familiarity of Ethereum, allowing for a more efficient and user-friendly experience.
Ethereum Virtual Machines (EVMs) are a virtual computer used by developers to create decentralized applications (dApps) and DeFi applications. EVMs are an important part of EOS’s future plans, as many developers have left EOS to take advantage of the Ethereum platform. EVMs provide developers with a secure and reliable environment to build their dApps and DeFi applications, allowing them to create innovative solutions that can be deployed on other blockchains. With EVMs, developers can create applications that are secure, reliable, and scalable, making them a great choice for developers looking to create the next generation of blockchain-based applications.
EOS, the blockchain platform, has announced a grants program to fund developers working on applications that are compatible with the Ethereum Virtual Machine (EVM). The grants program will provide funding ranging from $10,000 to over $50,000 to developers of new products or existing tools. This initiative is aimed at welcoming more Solidity developers and users to EOS, and an EVM on EOS is seen as an excellent bridge to do just that. The grants program is expected to help developers create innovative applications and tools that will help the EOS ecosystem grow.
EOS tokens are currently trading at just over $1.20, down ten cents from Friday. Network upgrades, grant programs and interoperability with other blockchains could potentially bolster the token prices and the $125 million in total locked value (TVL) on EOS-based DeFi applications. Price-chart analysis suggests that if the tokens jump in the coming weeks, there could be resistance at $1.80 and another major resistance at $2.90. Investing in EOS tokens could be a great way to benefit from the growth of the EOS ecosystem and the increasing value of the tokens.
The Ethereum Virtual Machine (EVM) launch in April has led to a surge in the total value locked (TVL) in the Ethereum network. According to Messari, the network has seen an increase of $50 million in TVL since the start of the year. Applications such as EOS REX and Vigor, both lending protocols, have added more than 8% in lock value in the past week alone. The network is averaging 1.3 million daily transactions and 38,000 daily active addresses on a year-to-date basis and averaging 1,785 new addresses per day. This surge in TVL is a testament to the growing popularity of Ethereum and its applications, and is likely to continue as more users join the network.
