Block.one to hold a contest for Ethereum and EOS compatibility
|- The compatibility will allow developers to port current Ethereum DApps to EOS more easily.
- The Ethereum DApps will also benefit significantly from EOS’s speed.
According to a Devpost page published recently, Block.one has announced a contest whose aim is to integrate Ethereum smart contract code with its EOS blockchain. The contest will require participants to “create an EOSIO smart contract that stores and invokes EVM (Solidity) Smart Contracts in a virtual Ethereum-like environment.” This is expected to enable developers to port current Ethereum DApps to EOS more easily.
As the contest ends only after a year, the participants have a lot of time to work on the project. Testing and judging processes will continue for a few months after that. Block.one appears to be looking for an illustration of compatibility rather than a completely functioning solution.
Compatibility with Ethereum would enable developers from other blockchain platforms to benefit from EOS’s speed. If EOS successfully manages to attract DApp developers from other blockchains, it can close in on Ethereum’s app count. As per data from DAppReview, EOS presently has 675 DApps, while Ethereum has 2,190 DApps.
Having said that, the EOS blockchain has recently faced a lot of performance issues. The blockchain has become extremely congested, which has resulted in the surge of RAM and CPU prices. This, in turn, makes it really expensive for developers to host dApps on EOS.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.