- EOS has claimed that its EVM is significantly sooner than Polygon and Solana.
- The token’s value elevated after the launch, however later registered a decline.
EOS Network Foundation [EOS] not too long ago launched its EOS EVM, an emulation of the Ethereum Digital Machine, deployed as a sensible contract on the blockchain. Ignas, a preferred Twitter account that posts insights about DeFi and different crypto areas, highlighted EOS EVM’s options and capabilities in a 17 April tweet.
1/6 EOS launched the EOS EVM chain.
It provides $EOS efficiency with the sources of the Ethereum neighborhood.
EOS EVM claims to be 25x sooner than AVAX and 3x sooner than Solana or Polygon.
— Ignas | DeFi Analysis (@DefiIgnas) April 17, 2023
How a lot are 1,10,100 EOSs worth today?
A-Z about EOS EVM
The EOS EVM runs decentralized functions written in Solidity, the native programming language of Ethereum [ETH]. The answer was developed to deal with the challenges confronted by Ethereum builders, equivalent to scalability.
The blockchain’s new EVM goals to unravel this drawback by efficiently combining the robust efficiency of the EOS Community with the simply accessible sources of the Ethereum neighborhood. The newly launched EVM is designed to enhance Ethereum and speed up the community’s mass adoption.
EOS EVM vs. rivals
Ignas’ tweet talked about that EOS EVM claims to be 25 instances sooner than Avalanche [AVAX] and 3 times sooner than Solana [SOL] or Polygon [MATIC]. Higher pace generally is a key think about attracting new customers. Other than the pace, ENV dedicated to investing $20 million in GameFi and EOS EVM initiatives to additional the expansion and adoption of EOS. However will or not it’s sufficient to entice the neighborhood?
The query may be higher answered after checking the efficiency of its rivals, equivalent to Polygon’s zkEVM. As per Dune’s data, zkEVM’s distinctive depositors have declined sharply, which may be excellent news for EOS EVM. The same decline was additionally famous on zkSync Period’s distinctive pockets counts, giving EOS EVM a possibility to develop.
Supply: Dune
EOS community since EVM launch
It was fascinating to see that on the day of the EVM launch, the blockchain’s community worth spiked as its TVL elevated. Nonetheless, the uptrend was short-lived, because it declined over the next days.
Supply: DeFiLlama
Regardless of the EVM launch, the community’s growth exercise remained low in April 2023. Nonetheless, EOS remained a subject of dialogue within the crypto neighborhood as its social quantity remained comparatively excessive all through the final 30 days.
Supply: Santiment
Sensible or not, right here’s EOS market cap in BTC’s terms
The community’s token response was constructive
Quickly after the EVM was launched on 13 April, the blockchain’s native token’s value motion turned bullish. Nonetheless, the upward momentum halted quickly as its value went down over the approaching days.
Whereas its value elevated, constructive sentiments round EOS additionally spiked. One other excellent news for the token was its inexperienced funding price, reflecting its demand within the futures market. On the time of writing, the token was trading at $1.21, with a market capitalization of greater than $1.3 billion.
Supply: Santiment
