EOS officially announces details and roadmap for Trust EVM: EVM tokens will be issued and a hackathon will be held | Highlights of the press conference

On April 19, 2022, the EOS Network Foundation held the EOS EVM launch event and AMA on Twitter Spaces. Yves La Rose, founder and CEO of the EOS Network Foundation, Matias Romeo, technical lead of the EVM+ working group, and Dr. Yarkin, core member of the EVM+ product team, attended the event and delivered keynote speeches on this significant occasion.

During the launch event, Yves La Rose detailed the founding purpose of the EOS Network Foundation, its main contributions after taking over EOS, the changes brought by the Mandel upgrade to EOSIO, and announced the official brand of EOS EVM—Trust. According to him, Trust will operate as an independent project, and the developer preview version of Trust will be officially opened soon. Additionally, a token named EVM will be issued in the future as part of the EVM value product. The release of Trust (Token: EVM) will help EOS further diversify its ecosystem and allow DeFi projects on EVM to benefit from Yield+, further incentivizing the increase of EOS's TVL.

As one of the nine core working groups funded by the EOS Network Foundation, the EVM+ working group is tasked with achieving EVM compatibility at the EOS smart contract level. Thus, technical lead Matias Romeo and core product team member Dr. Yarkin elaborated on the technical characteristics and future development of Trust EVM based on different business lines.

Here is a summary of the highlights from the Trust EVM launch event:

• ENF has filled a vacuum in EOS development, creating a new accountability mechanism to be responsible to token holders;
• The EVM+ working group has reached its first important milestone: deploying EOS EVM to the Jungle testnet;
• The vision of Trust EVM is not to be an Ethereum killer, but rather a promoter of Ethereum;
• Trust is the key for EOS and the EOS Network Foundation to regain community favor, and the naming of Trust EVM comes from this;
• Trust EVM will continue to benefit EOS holders;
• Achieving full RPC compatibility, Trust EVM will open up infinite possibilities;
• Trust EVM is expected to become a key bridge for users to enter Web 3.0.

This article is a review of the highlights from the AMA event, and the content has been edited.

Yves La Rose's Wonderful Sharing as Founder of the EOS Network Foundation

The EOS Network Foundation Fills a Vacuum in EOS Development

The EOS Network Foundation is a non-profit organization built on decentralized protocols. Our founding purpose was to recognize the existence of a vacuum in the EOS ecosystem. Previously, EOS lacked a core organization to coordinate resources from various ecological parties, working towards common goals and development directions. Against this backdrop, the EOS Network Foundation was established to utilize the knowledge and experience we have accumulated over the past four years to fill this gap.

One significant difference between the EOS Network Foundation and other public chain foundations is that the EOS Network Foundation was established after the EOS network had been operational for a long time. Other public chain foundations often emerge simultaneously with the mainnet and accumulate sufficient capital and tokens when the mainnet is launched.

The EOS Network Foundation, however, was established four years after the EOS mainnet was released as a purely decentralized organization. Therefore, we need to obtain certain financial support from token holders and deploy sufficient resources for EOS through our capabilities and efforts to promote the value growth of the entire ecosystem. Essentially, the EOS Network Foundation has created a new accountability mechanism to be responsible to token holders and ensure continuous funding support for the operation of the EOS Network Foundation.

Another major feature of the EOS Network Foundation is that it truly highlights the power of Web 3.0. Since taking over the EOSIO codebase, the EOS Network Foundation has been adopting a multi-pronged strategic approach to build a mature Web 3.0 smart contract platform and blockchain ecosystem. Since the establishment of the EOS Network Foundation, we have funded the establishment of multiple core working groups, published four research papers, outlined 75 EOS enhancement proposals, formed an EOSIO development alliance, and secured $8 million in funding in the first year.

We aim not only to strengthen the contributions of individuals, developers, and business people, including investors, in the EOS ecosystem but also to better attract talent, which means maintaining a healthy developer ecosystem for EOS. So, in the past few months, you may have seen that we have been continuously focusing on developers, actively recruiting top EOSIO developers, including core contributors to EOS VM, who have been building this protocol since 2017-18. EOS VM is a low-latency, high-performance, and scalable WebAssembly engine that powers the EOSIO protocol. So far, we have hired four senior engineers and will continue to expand our team.

EOSIO+ is collaborating with Telos, Wax, and UX to enhance IBC (inter-blockchain communication protocol) capabilities as a top priority and hopes to accelerate its realization for fast and efficient cross-chain interactions between other EOSIO-based EVMs and EOS EVM. More EOSIO enhancement features will be launched, which will continuously improve during the development of the EOS EVM project.

In the future, the development team will focus on the Mandel upgrade and improve the core protocol by addressing the features and priorities listed by the recently established EOSIO alliance. This will ensure that EOSIO reaches its full potential at a rapid development pace, with new features such as faster finality and asynchronous calls. Areg, the development director of the EOS Network Foundation and its most senior developer, has been assigned to the EOS EVM development process to ensure that EOS EVM becomes the best-in-class and highest-performing EVM on the market. If the EVM deployment based on smart contracts is successful, we can further integrate it into the foundational layer of EOS. Having these development talents will enable us to improve performance at the protocol level, including embedding new features to make EVM more powerful.

In August 2021, when the EOS Network Foundation was just starting to establish itself, we prioritized community development. EVM is the innovation that EOS urgently needs, and this is a consensus we reached with various members of the EOS ecosystem, so achieving EVM compatibility is a very high priority. Over the past four months, we chose the EOS Argentina team to lead the EVM+ working group, whose leader, Matias Rome, has been developing a graphene-based dPOS blockchain since Bitshares and is a core contributor to the EOSIO protocol itself. Before being invited to lead the EVM+ program, his team had already been working on integrating a MetaMask wallet for EOS. Last week, they reached their first important milestone by deploying EOS EVM to the Jungle testnet.

The EOS ecosystem and the EOS Network Foundation possess the talent for rapid innovation, which is a typical example.

In addition to EOS Argentina, we also invited a product team composed of industry experts and Y Combinator alumni, who are developing business cases for EOS EVM in terms of product, economics, and marketing strategy. In addition, they will form strategic partnerships with development teams to provide a complete set of complementary products, including wallets, cross-chain bridges, DEX, launchpads, and block explorers, to achieve the most efficient EVM.

In summary, we can clearly perceive that there has been a significant lack of a clear ecological planning map in the previous development of the EOS ecosystem. Whether it is token holders, developers, or investors, none of the parties were clear about EOS's future development direction. The EOS Network Foundation can fill this vacuum well, allowing everyone to see the future development path and planning.

The Vision of Trust EVM is Not to Be an Ethereum Killer, but a Promoter of Ethereum

In the past few months, we have been discussing what the new EOS EVM should be called, and we ultimately found that there is a very important keyword in the establishment of EVM and the development of the EOS ecosystem—trust. Industry insiders previously believed that EOS had long lacked trust, because Block.one failed to fulfill its promises and did not take full responsibility for its actions, building the network ecosystem as expected. The emergence of the EOS Network Foundation has successfully won the trust of the entire community.

Therefore, we chose to name the official product of EOS EVM as Trust Network and operate it as a separate project on EOS, with plans to issue a token named EVM in the future as an important component of the EVM product's value.

Trust EVM will usher in the next generation of DeFi and GameFi. Previously, the EOS network processed over 120 million transactions daily during periods of high congestion, and there has been no network downtime or outages in its four years of operation. This is more than the combined transaction volume of Ethereum and all second-layer and side-chain solutions. Furthermore, two years ago, EOS maintained a daily transaction volume of over 80 million, far exceeding the total of all other EVM-based chains.

Finally, EOS has extremely low transaction fees. Compared to other low-cost EVM chains, where transaction costs mostly range from 25 to 50 cents, EOS only costs a few cents. If you want to do things that are impossible on other EVM chains, such as oracles that can update every 0.5 seconds or high-frequency arbitrage trading realized for the first time on EVM, these will enable microtransaction economies to occur, which is crucial for the large-scale adoption of GameFi.

EOS EVM is a game-changer for DeFi built using Solidity, as this is the first time it can become truly scalable through a transaction fee model, achieving mainstream use cases at sub-second block speeds. When combined with EOS's speed, throughput, and cost, Solidity-based applications running on EOS EVM have infinite possibilities. Trust EVM will fundamentally change today's DeFi landscape, becoming the premier scaling solution for Solidity-based applications to achieve new use cases that are impossible on any other protocol.

The vision of Trust EVM is not to be an Ethereum killer, but a promoter of Ethereum. EOS is one of the most battle-tested third-generation blockchains, and now that it is fully compatible with the Ethereum Virtual Machine, the sky is truly the limit for Trust EVM.

Trust EVM Will Continue to Benefit EOS Holders

With the product of Trust EVM, we can fully put into practice the long-accumulated strength of the EOS ecosystem. At the same time, Trust EVM will continue to benefit EOS holders for the following reasons:

1. Lower the entry barrier for EOS and enhance adoption.

The creation of EOS accounts has long been criticized, and it is an area that the EOS Network Foundation is actively working to improve.

EOS EVM no longer requires EOS accounts, allowing users to hold and transfer tokens using only Ethereum public keys and MetaMask. A small gas fee is required for each transaction, and everything can proceed smoothly. The support of MetaMask for EVM and EOS VM runtimes means that MetaMask can interact with EOS native contracts and EVM contracts written in Solidity, greatly enhancing EOS's adoption.

2. Reduce the EOS Network Foundation's reliance on EOS inflation.

The success of the EOS EVM project will reduce the EOS Network Foundation's operational dependence on EOS token inflation, helping to create a more successful business and value closed loop.

3. Promote the diversified development of the ecosystem.

Solidity developers represent the largest blockchain developer ecosystem in the world, with a wealth of tools, open-source code, libraries, and SDKs that they can utilize on EOS EVM, fully compatible with RPC. These developers will also have the same funding opportunities as those building on native EOS through Pomelo and ENF-funded frameworks. This will help more users, developers, and DApps to issue based on EOS, promoting the diversified development of the ecosystem.

The establishment of the Yield+ working group is aimed at assessing the decentralized finance (DeFi) situation in other blockchain ecosystems and proposing best practices and methods for the EOS network to incentivize DeFi protocols to attract and deploy on-chain liquidity for native EOS and EOS EVM. This working group will help supplement the deployment of EOS EVM, as it will provide an incentive model for existing DeFi projects and open-source code written in Solidity, making it easy to clone, fork, or extend to EOS, with negligible development costs. This will enable new projects to deploy quickly and focus their budgets on marketing and community building to attract new users and TVL, rather than on project development costs.

4. DeFi Incentives Will Enhance EOS's TVL.

As the market capitalization and adoption rate of Trust EVM (Token: EVM) increase, the shared liquidity between EVM Token and EOS will lead to EOS being locked in AMM.

In summary, I cannot help but feel excited about the future of EOS. 2022 is the year of PoS, and as the most native dPOS public chain, EOS, with the Mandel upgrade, is now carrying the banner of development in the new blockchain era with higher speed, greater energy efficiency compared to PoW, and lower gas fees, all while being decentralized. The launch of EOS EVM marks an important milestone on EOS's path to becoming the best blockchain for highly scalable Web 3.0 applications.

Matias Romeo's Wonderful Sharing as Technical Lead of the EVM+ Working Group

Trust Will Achieve Full RPC Compatibility

As an EVM project, our primary goal for Trust, compared to the technical development of other public chain EVMs, is to provide developers with a completely consistent development experience, including:

• Deterministic gas computation
• Instruction set-level EVM compatibility
• Full RPC compatibility

When we started this project, we had two options to run EVM on EOS: one at the node level, i.e., the EOS client level, and the other to implement EVM in the form of smart contracts. Given that EOS has a very efficient layer 1 virtual machine and the EOS protocol supports extensibility, we chose the smart contract-based path for implementation.

For some of Ethereum's precompiled contracts, we are promoting an EOS extension upgrade to make these Ethereum precompiled functions become supported instructions in EOS, which can increase compatibility and accelerate the execution of smart contracts.

In terms of the details of the EVM working mechanism, first, users (via MetaMask or other tools) send a signed EVM transaction to the RPC server, which then packages this transaction into an EOS transaction and sends it to the EVM contract on EOS. This contract will verify the user-signed contract and apply it in the contract interaction.

This EVM runtime contract is implemented based on EVM One, which is an efficient open-source C++ EVM implementation. The state of the EVM contract is stored in EOS's state, so the external world and other regular EOS contracts can access this state.

Supporting EVM on the EOS network essentially brings a new runtime system to this chain. This will allow EVM contracts and EOS contracts to interact, opening up many new possibilities, such as moving tokens through a non-collateralized cross-chain bridge.

Trust EVM Architecture Diagram

We are excited to soon release a preview version for developers. The future roadmap for Trust EVM includes:

• An architecture based on Erigon, extending the EOS client (nodeos) through plugins to support JSON-RPC;
• Optimizing the EVM implementation to support higher transaction throughput;
• Completing support for EVM precompiled contracts;
• Enabling the modified EOS client to support Graph, etc.

Dr. Yarkin's Wonderful Sharing as Core Member of the EVM+ Product Team

Trust EVM will become a key bridge for users to enter Web 3.0. Yves and Matias have already discussed many advantages of the Trust EVM project, and I believe everyone is very familiar with the blockchain ecosystem. However, I would like to reiterate this in a more organized way to clarify why the combination of EOS + EVM has great prospects.

We all know that different blockchain characteristics have spawned many innovative businesses. Some rely on the privacy protection brought by the anonymity of blockchain, some rely on the trust-minted tokens based on consensus algorithms, and some rely on the "world computer" form brought by smart contracts. All of this allows on-chain entities to have completely different operational and profit models from traditional companies.

At the same time, the open-source nature of the blockchain world and the token incentive model make the blockchain world a place with far greater activity and decentralization than people imagine.

However, all opportunities come with challenges, and all the aforementioned advantages will give rise to different demands. If these demands are not well met, opportunities can easily backfire and turn into disasters. Existing public chains have more or less some bottlenecks, whether it is performance, such as latency or TPS, high gas fees, or high entry barriers, and in some cases, there are also issues of reliability and security.

This is where EOS balances very well as a public chain, as it has some unique advantages in this regard.

First, EOS is a well-tested, high-performance public chain. As Yves mentioned, EOS has been steadily supporting a massive number of transactions daily for many years. Clearly, EOS can provide a good experience for DeFi, especially digital asset trading, which is the foundation for everything else.

Secondly, the blockchain world is currently experiencing a digital content consumption wave, especially in gaming. EOS has produced many popular games both in the past and present. In a sense, this shows that EOS is very friendly to gaming from a technical perspective, and this has been recognized by users. Therefore, through EOS EVM, we can bring EOS's excellent gaming experience to the world of EVM, and I look forward to seeing what kind of chemical reactions will occur.

Finally, through EOS's high performance, we can make the interaction experience of Web 3.0 approach that of Web 2.0 in terms of latency. Ordinary Web 2.0 users may accept a one-second delay when using an application, but they will absolutely not accept a ten-second delay. This latency is also one of the key barriers preventing Web 2.0 users from migrating to Web 3.0. Therefore, an EVM that can enjoy the low latency brought by EOS will be able to bring more popular applications to Web 2.0 users. This will not only lead to significant user growth but also bring more possibilities.

To better explore this potential, for better gaming, and for a better asset trading experience, we need the community's help. In the future, we will organize hackathon events for Trust EVM. Whether you have new ideas, can solve long-standing problems, or have a simple tool to enhance the experience, we welcome you to join us for a better EOS and EVM metaverse.

Highlights from the KOL Q&A Session

Little Lotus Community

Hello everyone, we are the Little Lotus community. I believe that whether it is Ethereum public chains or EVM public chains, their prosperity is part of the crypto technology. In the future, there is a great possibility of converting users from one public chain to another. The combination of Ethereum public chains and EVM public chains is a collaborative effect of "1+1>2," rather than a competitive relationship.

My question is: Can public chains bring greater inclusivity? After the official launch of the EOS network's EVM public chain, can the stability and speed of the EOS network be better resolved?

Yves's Answer:

EOS is already very stable; it has undergone four years of practical verification, but we are always seeking to improve performance. EOS will continue to develop new features and innovate continuously. For example, we are enhancing the API lifecycle and achieving faster finality and synchronous calls, which will be detailed in the ENF white paper and emphasized as a priority in EOSIO+. These continuous improvements and innovations will benefit both native EOS and EOS EVM.

Matias's Answer:

The EOS Mainnet has been tested in production environments, capable of processing thousands of transactions per second without affecting stability and security. We believe the EOS network can still handle the task of supporting high-load EVM transactions.

Anger Rabbit Community

Hello, I am Strawberry Milk from the Anger Rabbit community. Our community mainly focuses on technical sharing, such as GameFi data sharing, new project yield calculations, and project investment analysis. Let's discuss the positives from our community's perspective.

From a user perspective, some of our novice members often ask why the EOS wallet cannot use MetaMask. After EVM compatibility on EOS, I believe that novice users in the community will smoothly transition to EOS, using similar blockchain browsers, mobile wallets, and MetaMask. They may not even feel the difference. The best products are those that users do not even notice exist. I believe that with the launch of EVM, our educational costs will drop sharply, and the number of ecosystem users will rise rapidly.

From a developer perspective, our community is also a gathering place for scientists to exchange ideas. As an old public chain, many of EOS's native concepts are very advanced. Market capitalization does not represent technical level, but due to the heat issue, there are indeed very few people who master its development skills, and there are not as many open-source tools as Ethereum. Our community has not researched deeply, but with the launch of EVM, we can quickly enter the EOS ecosystem. As other excellent protocols come online with EOS, we can quickly create useful tools such as data dashboard analysis, monitoring, and functional assistance to serve community users, contributing to the EOS ecosystem. This will create a win-win situation for our community and EOS, benefiting both.

Finally, my question is: Will there be community cooperation plans in the EOS ecosystem in the future?

Yves's Answer:

ENF has established various community cooperation methods, including the Pomelo Grants platform, Eden, and the ENF direct funding framework. Recently, the Yield+ working group will also release a new liquidity incentive plan, mainly focusing on promoting the DeFi and GameFi ecosystems to attract on-chain funds to EOS and EOS EVM Trust. In the future, we will definitely carry out more collaborations.

Stablock Community

Hello everyone, I am Zero, the founder of Stablock. I am very happy to be invited to participate in the EOS EVM space event. Thank you, Yves, for taking us through the history of EOS. EOS is indeed an old public chain. My first wallet in crypto supported EOS TokenPocket, and it took quite a bit of effort to open an account back then. Although the development difficulty of EOS's EVM was high at that time, it still gave rise to many interesting GameFi ecosystems. Therefore, I would like to ask, after introducing Solidity compatibility, how will EOS establish a competitive advantage against many existing EVM public chains and the recently popular non-EVM high TPS public chain Solana? Will the compatibility EVM compromise its own security?

Yarkin's Answer:

First of all, in terms of the ecosystem, we must thank Ethereum and Solana for their past efforts and contributions, which allow us to stand on their shoulders to solidify the foundational applications of the Trust project. We will collaborate with many existing mature projects, especially many DeFi projects, to directly bring them into the EVM ecosystem and optimize and innovate based on EOS's technical characteristics to provide a better user experience.

Secondly, regarding the user growth aspect of Trust, the total number of Ethereum users is still less than 20% of the Web 2.0 user base. Therefore, there is a lot of room for new user growth. We will increase the investment in community developers' innovation around gaming and NFTs, creating innovative applications, exclusive content, and traffic codes specifically for Trust, fully introducing new users from Web 2.0. Of course, we will not neglect the loyal fans of the existing community, so please look forward to the subsequent ecological construction work.

Finally, from a reverse investment perspective, EOS has performed poorly for a long time but still has good liquidity, and there is a huge space for optimization, which means we have a solid foundation and a huge ROI space. From this perspective, compared to other excellent public chains, this is also quite attractive for both developers and investors.

Matias's Answer:

The compatibility EVM will not compromise the security of EOS itself. Supporting EVM on EOS will not undermine the current security of the EOS network. EVM smart contracts run in the EOSVM sandbox just like other regular contracts. Additionally, the EOS EVM runtime will undergo compliance testing, and we plan to invite Sentnl and Slowmist for security audits.

Colorful Research Institute

Hello everyone, I come from the Colorful Research Institute, a community focused on one-stop blockchain services. We understand that the EVM core working group is one of the nine core working groups established by the EOS Network Foundation. Other core working groups include API+, Core+, Wallet+, Audit+, Market+, Yield+, Recover+, and EOSIO+.

In the future, the core working group framework will continue to be the main method to promote the development of DeFi, GameFi, and other important tracks in the EOS ecosystem. The core working groups will also support the implementation of business and services in the EOS roadmap. The EVM working group directly engages in development and product delivery, thus achieving EVM compatibility on the EOS smart contract layer more quickly.

My question is: Since EVM compatibility can be said to open a big door for the EOS ecosystem, how will the EVM working group create the best solutions to address the two significant challenges facing EOS? Can you introduce us to the EVM developer team and its advantages?

Matias's Answer:

EVM has a clear specification, and our approach to EVM compatibility is through all compliance testing of EVM, which is our guiding principle.

Yarkin's Answer:

Trust is composed of a global innovative developer team led by the EOS Argentina team, along with a group of talented developers, including Areg Hayrapetian, the technical director of EOS, and Matias, a DPOS development expert. Other developers are also outstanding entrepreneurs from YC startup projects or have participated in the development of star blockchain projects. At the same time, we are continuously absorbing senior technical talents from the industry as part of our development or advisory team, and I won't list them all here, but everyone will have the opportunity to get to know them one by one later.

Speaking of advantages, from a technical perspective, EVM is not only related to Ethereum but also to EOS technology. We will perfectly combine the two to bring out the best performance of EOS. Therefore, our existing team will be the most suitable, with in-depth knowledge of both EVM and EOS technologies.

On-Site User Q&A Session

Question 1:

We know that for any public chain to succeed, its ecosystem will have its own funding plan. I would like to understand what the funding plan of the EOS Network Foundation is like? What is the scale?

Yves's Answer:

First of all, we now have Pomelo, which serves as a secondary crowdfunding platform for the EOS ecosystem. Pomelo is the EOS version of Gitcoin, where public product project parties can submit funding applications through the Pomelo platform. Currently, Pomelo's second season is underway, and the EOS Network Foundation has provided over $1 million in funding for it. Everyone is welcome to participate.

Secondly, the EOS Network Foundation has also established a direct funding framework. Funding proposals are divided into three levels, each with different amounts and funding standards. Depending on the project's scale, scope, and related funding needs, each level of funding corresponds to different requirements and funding amounts.

• Individual/Small --- $10,000
• Team/Medium --- Up to $50,000
• Company/Large --- Over $50,000

In the past three years, the development of the EOS ecosystem has lacked funding, but since the EOS Network Foundation was established last August, we have provided over $10 million in support to the ecosystem, and we believe we will take more measures in the future, so please stay tuned.

Question 2:

In the past three years, the development of the EOS ecosystem has not been satisfactory, but after the establishment of the EOS Network Foundation, we have indeed seen many changes, and many EOS ecosystem projects have received funding in the past six months. I would like to ask, what kind of funding plan does the EOS Network Foundation have for ecological DAO organizations?

Yves's Answer:

We did miss out on a fantastic bull market. In my discussions with stakeholders in the ecosystem, I found that people's impressions of EOS are not very good, which may be because we often associate EOS with Block.one.

Due to Block.one's inaction, people have developed negative feelings towards EOS, but I want to say that the performance of EOS products themselves is very strong, and EOS also has a very active community.

In December last year, dissatisfaction with Block.one in the EOS community reached a peak, and the community united with BPs to stop releasing tokens to Block.one through multi-signature and fired Block.one. But that is far from enough; the EOS Network Foundation has also taken legal action to hold Block.one accountable for its past harm to the community.

Now that Block.one is in the past, the future of EOS is in the hands of the community. We have strong performance, a complete funding support system, and a systematic governance framework. I believe that in the next bull market, EOS will unleash even greater power.

Question 3:

EOS can be said to be the optimal technical performance solution in the blockchain industry. What dApps in the EOS ecosystem fully demonstrate EOS's sub-second speed and performance? Additionally, for those who are not very familiar with technical terms, what does full RPC compatibility mean? Why is it important?

Matias's Answer:

One of our important goals in achieving EOS EVM compatibility is to help more developers interact with other chains and build products on EOS more easily. RPC compatibility allows EOS EVM to support most Ethereum code commands, making these commands easier for developers to use. Without RPC compatibility, the significance of EOS EVM for the development of the EOS ecosystem could be greatly discounted, which is one of the reasons we have always been concerned about achieving RPC compatibility.

Yves's Answer:

I will answer the first question. First of all, EOS indeed has very high transaction speeds, and at the same time, we also have very low transaction fees, which opens the door for EOS ecosystem development in DeFi and GameFi. Currently, ETH's transaction speed and cost are not ideal, and after being compatible with EOS, the costs in this regard will be significantly reduced. This will also clear more obstacles in the development process of dApps.

Question 4:

Is EOS EVM similar to Telos EVM? Have you considered promoting it together with Telos EVM? Additionally, there are many public chains supporting EVM now. How will the EOS Network Foundation attract developers to develop projects in the EOS ecosystem?

Yves's Answer:

First of all, Telos is closely cooperating with us, and we are also building EVM based on the same underlying technology, so Telos and the EVM+ working group often communicate and share code knowledge. However, the difference is that EOS EVM has achieved full RPC compatibility, while Telos EVM, although it was launched earlier, has not achieved full RPC compatibility.

But we are not in a competitive relationship with Telos EVM. We can see that on April 8, 2022, four blockchains built on the EOSIO protocol: EOS, Telos, WAX, and UX Network, announced the integration of development resources and formed an alliance to take over the core code development of the EOSIO protocol. We are in a cooperative relationship to develop the EOS ecosystem together.

Secondly, while EOS EVM was indeed deployed relatively late, the EOS ecosystem has very high liquidity, and this liquidity potential has not been discovered by others in the past four years. Now that EVM is available, projects from other chains can be ported over very easily or developed on EOS very simply, significantly releasing the liquidity within the EOS ecosystem.

We must admit that we have not done well enough in marketing in the past, but our technology has been market-tested, and we also have a very strong community and committed token holders. All of this is an advantage of our EOS public chain. One of the current issues is that our market is a bit small, which is also the direction we are working to improve. We just need a small spark to ignite the volcano that is EOS, allowing it to break into the top ten public chains. This is the core advantage of EOS and the key to breaking the situation.

About EOS

The EOS network is a model work of the blockchain 3.0 era, supported by EOS VM. EOS VM is a low-latency, high-performance, and scalable WebAssembly engine that can achieve almost imperceptible deterministic transaction execution. The EOS network is designed for Web 3, aiming to provide the best user and developer experience for Web 3. EOS is the flagship blockchain and financial center of the EOSIO protocol, further improving infrastructure to drive the rapid development of EOS through the EOS Network Foundation (ENF) as a tool for multi-chain collaboration and the development of public foundational products.

About the EOS Network Foundation

The EOS Network Foundation is a non-profit organization aimed at listening to community voices, conveying community will, and supporting the development of quality community projects. It serves as a bridge for information sharing within the EOS community and provides critical infrastructure support for EOS ecosystem funding, technology, operations, future planning, and ecosystem building, further unleashing EOS's full potential as the world's fastest governance blockchain.