Zilliqa’s Deployment of EVM Compatibility Upgrade: What Does This Mean for the Future of Blockchain Technology?

04/27/2023 09:34 • Metaverse Matters • 87 views

On April 27th, it was announced that Layer 1 blockchain Zilliqa has successfully deployed a main network upgrade that can achieve EVM compatibility. The Ethereum virtual machine EVM has been launched on the main network, and its network is now able to handle transactions normally. The exchange has also resumed ZIL charging.

Zilliqa has successfully deployed a main network upgrade that can achieve EVM compatibility

Zilliqa, a prominent blockchain protocol, has announced its successful deployment of a main network upgrade that has enabled Ethereum virtual machine (EVM) compatibility. This development has made it possible for Zilliqa’s network to handle transactions more efficiently and effectively. In this article, we will explore what this means for the future of blockchain technology.

Understanding Zilliqa

Before delving deeper into the latest development, let us first take a closer look at Zilliqa. It is a high-throughput blockchain protocol that uses sharding to enhance the scalability of its network. This means that transactions can be processed in parallel across multiple network nodes, leading to much higher transaction speeds and lower fees compared to other blockchain protocols.
Zilliqa has been in development since 2015 and launched its mainnet in 2019. Since then, it has gained widespread recognition due to its exceptional functionality, security, and scalability. It also boasts a robust ecosystem that supports the development of decentralized applications (dApps). In fact, its smart contract languages, Scilla and Solidity, allow for the creation of custom dApps with ease.

Achieving EVM Compatibility

On April 27th, 2021, Zilliqa announced that it had successfully deployed a main network upgrade that enabled EVM compatibility. The EVM is a virtual machine that can run smart contracts on the Ethereum blockchain. This upgrade means that Ethereum-based dApps can now be integrated with Zilliqa’s network, expanding its functionality further.
This development has numerous potential benefits for users of Zilliqa’s network. For example, EVM compatibility could lead to an increase in transaction volumes, which could bring about a corresponding increase in demand for the native token, ZIL. It could also make it possible for dApp creators to develop and launch their products on Zilliqa without having to learn a new programming language.

Resumed ZIL Charging and Future Developments

One of the other significant developments of the Zilliqa upgrade is the resumption of ZIL charging on exchanges. This is great news for traders and investors on the platform who can now move their funds freely without restriction.
The successful deployment of the main net upgrade also opens the door for further development possibilities. For instance, it could lead to the creation of more interoperability between different blockchain protocols. Blockchain protocols that work together are becoming increasingly important to the development of a more integrated blockchain ecosystem.

Conclusion

To sum up, the recent main network upgrade by Zilliqa that enables EVM compatibility is a significant development in the evolution of blockchain technology. It is likely to lead to increased interoperability between different blockchain protocols, wider adoption, and greater efficiency in transaction processing. It is an exciting time for the blockchain industry, and with innovators such as Zilliqa at the forefront, we can expect further breakthroughs in the future.

FAQs

1. What is Zilliqa?
Zilliqa is a high-throughput blockchain protocol that uses sharding to improve scalability.
2. What does the EVM compatibility upgrade mean?
The EVM compatibility upgrade allows Ethereum-based dApps to integrate with Zilliqa’s network, expanding its functionality.
3. What other benefits can we expect?
The upgrade has the potential to lead to increased interoperability between different blockchain protocols and greater efficiency in transaction processing.

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