EVMOS is a bringing the power of the Ethereum Virtual Machine, or EVM to the Cosmos ecosystem! We aren't talking about yet another exchange bridge to move coins between ecosystems, we are talking about bringing whole dApps like Aave and more!
In our mission to launch a validator node on the EVMOS network, we are doing a deep dive into the ecosystem to not only better our education as validators, but to share our findings with our community! This is more or less a top level overview of the platform and we plan to continue to dive even deeper into the ecosystem of applications already being built and deployed.
Before you can really understand what EVMOS is, you need to have at least a top level understanding of what Ethereum and the Ethereum Virtual Machine is. Here is an in-depth article on what that is. It's basically the virtual machine that allows smart contracts and applications to run and interact with Ethereum, or other layer 1 blockchains that use the EVM.
So What Is EVMOS?
EVMOS is a scalable blockchain built using the Cosmos SDK that also uses the power of the Ethereum Virtual Machine. This opens up the opportunity for Ethereum based developers to easily create applications or integrate existing dApps with the EVMOS blockchain.
Being that it is built using the Cosmos SDK and has IBC integrated, it can communicate and interact with any other IBC blockchain in the ecosystem. This allows more than just native tokens, this allows inter blockchain connectivity, which only increases the scalability of the ecosystem!
Imagine being able to connect to Aave.com and using your ATOM in a lending and borrowing platfrom that is already trusted by big money players. Imagine the ease of being able to easily deploy the same smart contracts that you can on Ethereum, Binance Smart Chain, Polygon and more, in the Cosmos ecosystem! Basically creating endless possibilities in DEFI, NFTs, and more!
Key Features of EVMOS
First off, the Web 3.0 and EVM compatibility. You will easily be able to use EVMOS applications, using Metamask, just like you would with any other Ethereum based application! This mean you are in control of you funds and you can move in and out of contracts as you see fit.
Then there is the high throughput using Tendermint Core, which is a Byzantine Fault Tolerant (BFT) middleware that takes a state transition machine - written in any programming language - and securely replicates it on many machines.
It leverages the high scalability models of the IBC, which is the inter blockchain communication protocol in the Cosmos SDK that allows the different layer 1 blockchains all interact with one another. This allows for more complimenting of applications versus competition and replication of the same app models.
It's also very fast when it comes to transaction finality with block times running now at 2 seconds after the most recent update.
Cosmos SDK Governance
The Cosmos proof of stake model allows for EVMOS to be governed by its stakeholders. Validators, like carbonZERO, run nodes on the chain and the more people that delegate tokens to that validator, the higher up the ranks they are, which means they have more governance power in the ecosystem. Delegators can override validator votes by voting on proposals themselves if they do not agree with the way their validator voted. This creates a sense of decentralization.
One problem being seen in this form of governance is that a large part of the stake is sitting with some of the top few validators. For more decentralization, stakeholders need to look at other validators in the list to delegate to so that not so much power is concentrated in the top 5-10 validators. But this is a whole other subject. If you want to know more about roles of validators and delegators in the Cosmos space, check out our article on the subject. Here is another post where we talk more about governance votes in the Cosmos ecosystem.
Keep looking out for more articles about EVMOS and the different apps being launched as we do our educational deep dive into the ecosystem while we also get our validator node up and running!
Check out EVMOS on their website: https://evmos.org
This leads to all of their social links like Twitter and Discord!
We Are carbonZERO
carbonZERO is a full service, eco-conscious validator node operator for the Cosmos ecosystem, providing infrastructure for several blockchain in the Cosmos ecosystem. We run top of the line bare metal servers, utilizing 64GB RAM, 1TB NVMe SSDs, and 8-core / 16-thread CPUs. Our node architecture consists of frontline sentry nodes for ultimate security. Future plans for additional security & performance include implementing threshold signer nodes, as well as additional sentry and RPC nodes.
Stake your $CMDX, $ROWAN, $HUAHUA, $CRBRUS, and $NOM with carbonZERO using our Restake app! You can also visit the Staking page on Coin Logic and click the chain you want to delegate and it will take you directly to our delegation page!
Follow us on Twitter!
Follow us on LeoFinance on Hive!
Posted Using LeoFinance Beta
I'm also evmos staker with apt getting low by day we might see price increase anyway evm tech in on the go is there cosmos common on hive?
Yeah, the APR is dropping, but that means it will become more stable, and yes, hopefully the price goes back up, but with everything still being down, just gotta play the long game at this point. EVMOS seems to be an amazing long play so that's why we are going to give it a go and try to get in the active validator set, gonna be some work though.
How to get in active validator set?
Have to have enough tokens delegated to our validator node to move up the ranks. We are just getting our node ready to launch but we will start in the inactive set for a while until we can get to the 'floor' of the active validators.
We are hoping to be able to grab the attention of either the development teams of the platform and or the dapps being built by doing some educational content. Validators are expected to provide other services to the communities aside from just running a node and voting, so this is our way of trying to bring further value to the community.
Good luck with that I will delegate when you become active ☺️
I just used EVMOS for the first time last night. It was an awesome experience. I can't believe I ignored Cosmos for so long.
Posted Using LeoFinance Beta
Yeah, we need to figure out how to bridge at least EVMOS with Hive. I mean folks are doing it with ETH, BSC, and Polygon, so why couldn't we with EVMOS and create a Hive/Cosmos bridge!
That's actually something we are looking into!
Yeah I think an EVMOS bridge would be sick. Maybe the LeoFinance team could help make it happen!
Posted Using LeoFinance Beta
Yeah was thinking about reaching out to them about it.
You need to be familiar with the cosmos, there are a lot of opportunities there.
I see now! My eyes are open. Let me know about some cool stuff to check out, if you have more links.
Good initiative
Will the unclaimed and destroyed Evmos make the coin price go up or will they make a new airdrop?
Posted Using LeoFinance Beta
price only depends on volume and demand. As far as I am aware they are decayed, or burned. It limits the circulating supply, but it all depends on the demand for the token.
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I have been using Evmos right from when they came to cosmos with their airdrop and IBC. I see Evmos growing stronger. Sadly, it is not yet as popular as it should be but time will tell. Currently, about 75% of the airdrop are unclaimed and will soon enter decay period.
... and that is good...
Posted Using LeoFinance Beta
This is all new to me, thanks for all the information.