The EOS Network excels at virtually every type of smart contract. It’s the premier performance blockchain. So why build an EVM (Ethereum Virtual Machine) on the mainnet?

Cross-chain applications like EVMs (Ethereum Virtual Machines) have been historically good for blockchain ecosystems. Trust EVM pairs industry-leading functionality with the vast community on Ethereum. Factor in a near-ready IBC (inter-blockchain communication), and the EOS Network becomes the model for Web3.

For more about EVM, read Bybit’s article What Is an Ethereum Virtual Machine (EVM)? A Beginner's Guide.

How Ethereum Defines its Virtual Machine

“The EVM’s physical instantiation can’t be described in the same way that one might point to a cloud or an ocean wave, but it does exist as one single entity maintained by thousands of connected computers running an Ethereum client.”

For any given block, Ethereum has one single, unique state. The Ethereum Virtual Machine defines the rules for creating new states on the ledger.

About Trust EVM

The first thing worth noting about Trust EVM is that it’s fully compatible with Ethereum applications. ETH users can now enjoy their apps on a high-performance blockchain. Trust EVM is already being tested with great success. Independent community developers continue to explore new possibilities (see EVMxIdeathon in a later section). Version 2 is currently in development.

Reasons for the EOS Network Supporting an EVM

The Trust EVM working group gave the following reasons for supporting an Ethereum Virtual Machine:

Grow the EOS ecosystem both in user base and applications
Attract more smart contract developers by connecting to Solidity and its existing libraries
Leverage EOS capabilities including free gas (transactions), high performance, established stability, and faster finality

Learn how to get started on Trust EVM, connect Metamask, and more by viewing the Welcome to Trust documents. For a more detailed look from a developers’ perspective, explore the Architecture overview:

Image adapted from docs.trust.one

Options for Building on Ethereum

Imagine using a version of Metamask that’s faster, more secure, and at no cost. Imagine developing with the freedom of knowing that dapps can grow unencumbered as their popularity grows.

Ethereum enjoys a first-mover advantage. Blockchain developers tend to look to Ethereum first when building complex smart contracts. But, what happens when a project stalls (or fails) on Ethereum? Do development teams give up on their decentralized efforts? What options do they have? Where do they look next?

Alternatives to Ethereum exist. Oftentimes, the second blockchain of choice is one connected to an EVM. EOS’ Trust EVM introduces new, powerful options. For the first time, blockchain developers will have real access to both a wide audience and decentralized technology that’s competitive with traditional apps.

EOS Sets the Pace for Multi-chain Applications

In the coming months, the blockchain world will come to know EOS as the leader in multi-chain applications. Developing in the same environment as Trust EVM is an EOS IBC (inter-blockchain communication) solution. IBC will enable Antelope chains to leverage each other's assets.

The potential of EVM-enabled blockchains combined with Antelope chains working in harmony is quite profound. No wonder why the ENF and Helios teamed up to design a special kind of hackathon. The months-long EVMxIdeathion harnesses more than developer talent. It inspires (and funds) creative ideas.

Read more about EVMxIdeathon and Trust EVM on the team’s blog. Here are a few stats to get you started:

Fastest (actual) TPS (transactions per second)
Free transactions
Lowest energy used per transaction
Fair, free market devoid of front running
Revolutionary SPS (swaps per second)

Image adapted from Trust EVM blog

Roadmap

The EOS Network released the Trust EVM roadmap on October 7. Version 1 has been undergoing testing since March. Feedback from testing and the EVMxIdeathon continue to fuel excitement around the new EOS.

Trust EVM Version 2 expects to hit testnets by this December. It’s scheduled to go live in Q1 2023. V2 functionality plans to include accessible Silkworm and a block mapping function. Key features include RPC nodes, a new token mechanism, and a token.

By Q2, Trust EVM plans to expand its reach across the ecosystem. Headlining Q2 development is connecting the mainnet to other EVM-compatible chains. For a more detailed look into the Trust EVM roadmap, visit the doc.trust.one database.

Image from Trust EVM twitter

OUTLOOK

EOS is a proven powerhouse. The network has a mature DeFi system and NFT marketplace. EOS was even used (alongside Ethereum) to track the last US Presidential Election. Development really took off once the EOS Network Foundation took the helm. Team ENF continues to grow, as does its reputation. There’s wide consensus among the community that the ENF has gone above and beyond in its development efforts. Imagine what the future will look like a few months from now. Imagine this time next year.

Sources & References

Image credits:
- Overall design of TrustEVM: Image adapted from docs.trust.one
- EOS Performance compared to other L1 blockchains: Image adapted from Trust EVM blog
- EVM Swaps per Second (SpS): Image adapted from Trust EVM blog
- Trust EVM roadmap: Image from Trust EVM twitter