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IRISnet to Release Upgrade 2.0, Introducing Ethereum Virtual Machine Support

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On March 21st, it was announced that IRISnet, built on Cosmos SDK, will release a version 2.0 upgrade and plan to add support for Ethereum Virtual Machine (EVM), integrating EVM ba

IRISnet to Release Upgrade 2.0, Introducing Ethereum Virtual Machine Support

On March 21st, it was announced that IRISnet, built on Cosmos SDK, will release a version 2.0 upgrade and plan to add support for Ethereum Virtual Machine (EVM), integrating EVM based smart contracts and dApps into the IRISHUB ecosystem. In addition, IRISHUB 2.0 will introduce a new fee token converted from IRIS for the EVM ecosystem.

IRISnet 2.0 upgrade adds EVM support and introduces a new fee token

IRISnet, built on Cosmos SDK, recently made an exciting announcement on March 21st. The network will soon release an upgrade to version 2.0, which will include support for the Ethereum Virtual Machine (EVM). This upgrade will allow the IRISHUB ecosystem to integrate EVM-based smart contracts and decentralized applications (dApps) into the network. In addition, IRISHUB 2.0 will introduce a new fee token converted from IRIS for the EVM ecosystem.

Introduction to IRISnet and Cosmos SDK

IRISnet is a next-generation blockchain platform based on the Cosmos SDK. This platform is designed for enterprises and developers to build scalable, interoperable, and secure blockchain-based solutions. The Cosmos SDK is a modular framework that allows developers to easily build custom blockchains and applications while still being able to interoperate and communicate with other blockchains in the Cosmos ecosystem.

IRISnet 2.0 Upgrade and EVM Support

With the IRISHUB 2.0 upgrade, the network will introduce support for the Ethereum Virtual Machine (EVM). This integration will allow smart contracts and dApps built on the Ethereum network to be seamlessly integrated into the IRISnet ecosystem. This move is expected to provide increased flexibility, scalability, and interoperability across blockchain networks.

Benefits of EVM Support

The integration of EVM support will allow developers to build smart contracts and applications using Solidity, the programming language used for Ethereum smart contracts. This will open up the IRISnet ecosystem to a larger pool of developers who are familiar with Solidity and the Ethereum development environment. Additionally, the IRISnet network will benefit from the existing Ethereum ecosystem, such as existing dApps and tools that can now be implemented on the network.

New Fee Token for EVM Ecosystem

IRISHUB 2.0 introduces a new fee token that will be used for the EVM ecosystem. This token will be converted from IRIS, the native token of the IRISnet network. The introduction of this new token will provide economic incentives for developers and users to participate in the EVM ecosystem on the IRISnet network.

Conclusion

The integration of EVM support into the IRISnet ecosystem is an exciting development for the blockchain industry. The upgrade to version 2.0 will allow for increased flexibility, scalability, and interoperability across blockchain networks. Additionally, the new fee token will provide economic incentives for users and developers to participate in the EVM ecosystem.

FAQs

What is IRISnet?

IRISnet is a next-generation blockchain platform based on the Cosmos SDK.

What is the Ethereum Virtual Machine?

The Ethereum Virtual Machine (EVM) is the runtime environment for smart contracts in the Ethereum network.

What is the benefit of EVM support in IRISnet?

EVM support will allow for increased flexibility, scalability, and interoperability across blockchain networks. It will also provide access to the existing Ethereum ecosystem.

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