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Evmos: the expected meeting between Cosmos (ATOM) and Ethereum

Another crypto that will shine in 2022? It will probably be Cosmos (ATOM), with projects like Evmos!

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The problem of interoperability has been one of the big questions in the cryptosphere for a few months. All blockchains compatible with Ethereum, therefore having an EVM, use bridges so that users can switch from one to another. But apart from this set, Cosmos (ATOM) and Polkadot have developed fully interoperable ecosystems. Blockchains can communicate with each other in both cases. Three sets which in fact are getting closer little by little. After Moonbeam which brought Polkadot and Ethereum closer together, here is the highly anticipated Evmos which brings Cosmos and Ethereum closer together!

  • Cosmos, star of the year 2022
  • Ethereum problems bring glory to Cosmos
  • Evmos, Cosmos’ first flagship project

Will 2022 Be The Year Of Cosmos (ATOM)?

For the past few months, the Cosmos ecosystem has been expanding. Not only Atom, its best-known zone (=blockchain), but also the other main zones, Osmosis, Juno, etc., have seen their capitalization explode in recent months. 

Still little known until recently, the internet of blockchains is gradually becoming the benchmark for interoperability. The ease of sending tokens from one area to another and the multiplication of its uses make it an increasingly attractive environment for users. Each zone thus has a specific use (confidentiality, liquidity exchange, support for ecological projects, etc.).

 

Thus, each new zone enriches the entire ecosystem and complicates uses through its interaction with other zones. Additionally, Cosmos is also known for repeat airdrops for Atom, Osmo and now Juno stakersBy a tacit but yet always followed rule, all new projects arriving on Cosmos make an airdrop to the users of the ecosystem. There is therefore a virtuous circle between users and projects, each helping the other to evolve. It is this dynamism that makes this ecosystem one of the most attractive of the moment.

 

Evmos: A Bridge Between Ethereum And Cosmos

 

If Evmos aroused many expectations, it is because it is a very special area. Not only will it allow the deployment of smart contracts, which only the Juno and Secret Network zones previously allowed, but above all will allow the use of Ethereum’s Solidity language since it is equipped with an EVM.

Therefore, all EVM blockchain applications will be able to easily migrate to Evmos. The technical tour de force is thus to make Evmos compatible with both the Keplr wallet and also Metamask. So, while using Tendermint and the Cosmos SDK Evmos installed the necessary components to ensure the same experience for developers as if they were on Ethereum

Evmos actually has two main objectives. The first and probably the most immediately visible is to offer a highly scalable blockchain for developers and users and allowing token transfer with all Cosmos blockchains . The second is to provide an EVM environment to new Cosmos zones for business projects.

Whether public or private, these areas could thus integrate the module set up by Evmos. Like any new zone on Cosmos , Evmos has just made its traditional airdrop. This one was obviously for two types of wallet. For the Keplr wallet, the stakers were again rewarded and for the Metamask wallet the airdrop gives compensation to those who have made themselves rekt (hence the name “rektdrop’) on Ethereum.

 

The First Projects

 

With such expectation, the developers could not miss the arrival of this project. Without counting tools such as wallets or explorer, more than 18 projects have already positioned themselves on the Evmos network. Four DEXs must be installed (Exswap, PhotoSwap, Diffusion Finance and Cronus Finance). There will also be lending solutions including the famous Aave. Finally, a store of value that uses the Olympus model, NovaDAO, will be installed in the coming weeks. NFT and gaming projects will of course be positioned for the launch of the network.

We must therefore expect a very turbulent start with many users. Everyone is also waiting for the listing of Evmos on Osmosis, since the particularity of Evmos, like all Cosmos blockchains, is not to seek to be listed immediately on centralized platforms.

Cosmos is increasingly self-sufficient in cash transfer. The arrival of Evmos will only accentuate this trend since it will easily bring in liquidity from EVM blockchains.

Evmos is undoubtedly one of the big news of the week in the world of cryptocurrencies. Expected for months, it will bring together two hitherto incompatible universes: that of Cosmos and that of Ethereum. All the projects waiting to be set up there will energize its network. EVMOS will therefore attract many investors and its price may be very volatile over the next few weeks. It will therefore be necessary to be very attentive to its course in order to position it as best as possible. To wait too long would be to risk missing this new wave of the DeFi world.

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