On April 19, 2022, the EOS Network Foundation held the EOS EVM conference and AMA event in Twitter Spaces. The founder and CEO of the EOS Network Foundation Yves La Rose, the technical leader of the EVM+ working group Matias Romeo and the EVM+ product team Dr. Yarkin, a core member, attended the event and delivered a keynote speech around this important event.
In the press conference, Yves La Rose described in detail the original intention of the EOS Network Foundation, the main t contributions after taking over EOS, and the changes brought about by the Mandel upgrade to EOSIO, and announced the official official brand of EOS EVM - Trust. According to its description, Trust will be operated as an independent project, and then the developer preview version of Trust will be officially opened. At the same time, a Token named EVM will be issued in the future as part of the EVM value product. The release of Trust (Token: EVM) will help EOS further complete the diversification of the ecology, and allow EVM's DeFi projects to benefit from Yield+, further stimulating the TVL increase of EOS.
As one of the nine core working groups funded by the EOS Network Foundation, the EVM+ working group undertakes the important task of realizing EVM compatibility at the EOS smart contract level. Therefore, Matias Romeo, the technical director, and Dr. Yarkin, a core member of the product team, elaborated on the technical characteristics and future development of Trust EVM based on different business lines.
The following is a wonderful summary of the Trust EVM conference:
ENF makes up for a vacuum in the development of EOS and creates a new accountability mechanism responsible for Token holders;
The EVM+ working group has reached its first major milestone: deploying the EOS EVM to the Jungle testnet;
The vision of Trust EVM is not an Ethereum killer, but an enabler of Ethereum;
Trust is the key to EOS and the EOS Network Foundation regaining the love of the community, and the name Trust EVM comes from this;
Trust EVM will continue to benefit EOS holders;
To achieve full RPC compatibility, Trust EVM will open up unlimited possibilities;
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This article is a review of the exciting content of this AMA event, and the content has been edited.
Wonderful sharing by Yves La Rose, founder of EOS Network Foundation
The EOS Network Foundation fills a vacuum in EOS development
The EOS Network Foundation is a non-profit organization based on a decentralized protocol. We were founded out of the awareness that there was a vacuum in the EOS ecosystem. The previous EOS lacked a core organization to coordinate the resources of all parties in the ecology and work hard for common goals and development directions. Against this background, the EOS Network Foundation was established with the aim of filling this gap with the knowledge and experience we have accumulated over the past four years.
Compared with foundations of other public chains, the EOS Network Foundation has another special difference, that is, the EOS Network Foundation was established after operating on the EOS network for a long time. Foundations of other public chains are often established simultaneously with the mainnet, and have accumulated sufficient capital and tokens when the mainnet was first launched.
The EOS Network Foundation is a purely decentralized organization established four years after the release of the EOS mainnet. Therefore, we need to obtain certain financial support for Token holders, and use our own capabilities and efforts to support EOS. Deploy sufficient resources to promote the value growth of the entire ecosystem.Essentially, the EOS Network Foundation has created a new accountability mechanism to be responsible to Token holders and ensure that there are more and more funds to support the operation of the EOS Network Foundation.
Another major feature of the EOS Network Foundation is that it truly highlights the power of Web3.0. Since taking over the EOSIO codebase, the EOS Network Foundation has been taking a multi-pronged strategic approach towards building a mature Web3.0 smart contract platform and blockchain ecosystem.Since the inception of the EOS Network Foundation, we have funded the formation of several core working groups, published four research papers, outlined 75 proposals for EOS enhancements, formed an EOSIO development consortium, and received $8 million in funding in its first year funds.
We not only need to strengthen the contributions of individuals, developers, and business people, including investors, in the EOS ecosystem, but also better target talents, that is, maintain the developer ecosystem of the EOS system. So in the past few months, you will also see that we continue to make efforts on developers and continue to recruit top EOSIO developers, including the core contributors of EOS VM, who have been building the EOSIO since 2017-18. protocol. EOS VM is a low-latency, high-performance and scalable WebAssembly engine that powers the EOSIO protocol. So far, we have hired 4 senior engineers and will continue to expand our team.
EOSIO+, in conjunction with Telos, Wax and UX, regards enhancing the IBC (inter-blockchain communication protocol) capability as the highest priority, and expects to accelerate the implementation to achieve fast and efficient cross-chain between other EOSIO-based EVM and EOS EVM chains. More EOSIO enhancements are coming soon, and they will continue to evolve as the EOS EVM project evolves.
In the future, the development team will focus on upgrading Mandel and improving the core protocol by addressing the features and priorities outlined by the recently formed EOSIO Alliance.This will ensure that EOSIO reaches its full potential at a rapid rate of development, with new features such as faster finality and asynchronous calls. Areg, Development Director and most senior development member of the EOS Network Foundation, has been assigned to the EOS EVM development process to ensure that the EOS EVM becomes the best-in-class and most performant EVM on the market. If the smart contract-based EVM is successfully deployed, we can further integrate it into the base layer of EOS. Having these development talents will allow us to better improve performance at the protocol level, including implanting new features to make the EVM more powerful.
In August 2021, when the EOS Network Foundation was first established, it was prioritizing community development. EVM is an urgently needed innovation for EOS. This is the consensus we have reached with all parties in the EOS ecosystem. Therefore, the priority of achieving EVM compatibility is very high. In the past 4 months, we have selected the EOS Argentina team to lead the EVM+ working group. Its leader Matias Rome has been developing the graphene-based dPOS blockchain since Bitshares, and is a core contributor to the EOSIO protocol itself. Prior to being invited to lead the EVM+ initiative, his team was already developing a MetaMask wallet integration for EOS.Last week they reached their first major milestone, which was the deployment of the EOS EVM to the Jungle testnet.
This is a prime example of the EOS ecosystem and the EOS Network Foundation's talent for rapid innovation.
In addition to EOS Argentina, we have also invited a product team composed of industry experts and Y Combinator alumni who are developing the business case for the EOS EVM product, as well as its economic and marketing strategies.In addition to this, they will also form strategic partnerships with development teams to provide a complete set of complementary products, including wallets, cross-chain bridges, DEXs, Launchpads, and block explorers to achieve the most efficient EVM.
In the end, we can clearly perceive the lack of a clear ecological planning map in the development of the EOS ecosystem before. No matter whether it is Token holders, developers or investors, they do not know the clear development direction of EOS in the future. . The EOS Network Foundation can fill this vacuum very well, allowing everyone to see the future development path and planning.
The vision of Trust EVM is not an Ethereum killer, but an enabler of Ethereum
In the past few months, we have been discussing what the new EOS EVM should be called, and finally we found that in the process of EVM establishment and EOS ecological development, a very important keyword is trust. Previously, industry insiders believed that EOS lacked trust for a long time,It is because Block.one violated its promise, did not fully take responsibility for its own words and deeds, and built the network ecology as expected. The emergence of the EOS Network Foundation has successfully won the trust of the entire community.
Therefore, we chose to name the official product of EOS EVM Trust Network, and run it as a separate project on EOS, and issue a Token named EVM in the future, as an important part of the value of EVM products.
Trust EVM will usher in the next generation of DeFi and GameFi.The EOS network previously processed more than 120 million transactions per day during periods of high congestion, without any network pauses or downtime in its four years of launch.That’s more transactions than Ethereum and all layer 2 and sidechain solutions combined. In addition, in the past (2 years ago), EOS has maintained a daily transaction volume of over 80 million, which greatly exceeds the sum of all other EVM-based chains.
Finally, EOS also has extremely low transaction fees.Compared with other low-cost EVMs on the chain, most of its transaction costs are between 25-50 cents, while EOS only costs a few cents. If you want to do something that is impossible on other EVM chains, such as an oracle that can be updated every 0.5 seconds, or realize high-frequency arbitrage trading on EVM for the first time. These will allow the microtransaction economy to happen and will be critical for GameFi to achieve mass adoption.
The EOS EVM is a game changer for DeFi built with Solidity, as for the first time it can become truly scalable with a transaction fee model, enabling mainstream use cases with sub-second block speeds.When combined with the speed, throughput, and cost of EOS, the possibilities for Solidity-based applications running on the EOS EVM are endless.Trust EVM will revolutionize today's DeFi landscape, becoming the premier scaling solution for Solidity-based applications to enable entirely new use cases, not possible on any other protocol.
The vision of Trust EVM is not an Ethereum killer, but an enabler of Ethereum. EOS is one of the most battle-tested 3rd generation blockchains, and now that it is fully compatible with the Ethereum Virtual Machine, the sky is truly the limit with Trust EVM.
Trust EVM will continue to benefit EOS holders
With Trust EVM as a product, we can fully put into practice the power that the EOS ecology has accumulated for a long time. At the same time, Trust EVM will continue to benefit EOS holders, the main reasons are as follows:
1. Lower the threshold of EOS entry and enhance the adoption rate.
EOS account creation has always been an area that has been criticized, and it is also the direction that the EOS Network Foundation is actively working to improve.
EOS EVM no longer requires an EOS account, allowing Tokens to be held and transferred using only the Ethereum public key and MetaMask. Just pay a small gas fee in each transaction, and everything will run smoothly. MetaMask's support for EVM and EOS VM runtime means that Metamask can interact with EOS native contracts and EVM contracts written in Solidity, which will greatly enhance the adoption rate of EOS.
2. Reduce the dependence of the EOS Network Foundation on EOS inflation
The success of the EOS EVM project will reduce the dependence of the EOS Network Foundation on the inflation of EOS network tokens, and help create a more successful business and value closed loop
3. Promote the diversified development of ecology
Solidity developers are currently the world's largest ecosystem of blockchain developers, with a wealth of tools, open source code, libraries and SDKs that they can leverage on the EOS EVM and are fully compatible with RPC. These developers will also have access to the same funding opportunities as those building on native EOS with the Pomelo and ENF funding frameworks. This will help more users, developers, and more Dapps to be issued based on EOS, and promote the diversified development of the ecology.
The Yield+ working group was formed to assess the Decentralized Finance (DeFi) situation in other blockchain ecosystems and propose best practices and approaches for the EOS network to incentivize DeFi protocols to attract and deploy chains for native EOS and EOS EVM on liquidity. The working group will help complement the deployment of the EOS EVM, as it will provide an incentive model for existing DeFi projects and open source code written in Solidity to be easily cloned, forked or extended to EOS, while such The development cost of doing it is negligible. This will allow new projects to deploy quickly and focus their budget on marketing and community building to attract new users and TVL, rather than the project's development costs.
4. DeFi encourages the TVL increase of EOS
As the market cap and adoption rate of Trust EVM (Token: EVM) increase, the shared liquidity between EVM Token and EOS will result in EOS being locked in AMMs.
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Trust will achieve full RPC compatibility
Trust is an EVM project. Compared with other public chain EVM technology development, our primary goal is to provide developers with a completely consistent development experience, including:
Deterministic Gas Calculation
EVM compatibility at the instruction set level
Fully RPC Compatible
When we started this project, we had two options to make the EVM run on EOS, one was at the node level, which is the EOS client level, and the other was to implement the EVM in the form of smart contracts. Since EOS has a very efficient layer1 virtual machine, and the EOS protocol also supports extensions, we choose the path based on smart contracts.
For some precompiled contracts of Ethereum, we are promoting an extension upgrade of EOS so that these precompiled functions of Ethereum can become instructions supported by EOS, which can increase compatibility and speed up the execution of smart contracts.
In the details of the EVM working mechanism, first the user (via Metamask or other tools) sends a signed EVM transaction to the RPC server, and the RPC server then packages the transaction into an EOS transaction and sends it to the EVM contract on EOS. This contract will verify the contract signed by the user and apply it in the contract interaction.
This EVM runtime contract is implemented based on EVM One, an efficient open source C++ EVM implementation. The state of the EVM contract is stored in the state of EOS, so both the outside world and other normal EOS contracts can access these states.
Supporting EVM on the EOS network is equivalent to bringing a new runtime system to the chain. This will allow EVM contracts to interact with EOS contracts, opening up many new possibilities, such as moving tokens through unsecured cross-chain bridges.
Trust EVM working architecture diagram
We are excited to release a preview version for developers soon, and the future Trust EVM roadmap includes:
Based on Erigon's architecture, the EOS client (nodeos) is extended through plug-ins to support JSON-RPC;
Optimize EVM implementation to support higher transaction throughput;
Complete the support of EVM precompiled contracts;
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Dr. Yarkin, a core member of the EVM+ product team, shared his wonderful experience
Trust EVM will become a key bridge for users to enter Web3.0. Yves and Matias have talked and shared many advantages of the Trust EVM project, and I believe everyone is also very familiar with the ecology of the blockchain. But I still want to rephrase it in a more organized way, so that we can see why the combination of EOS + EVM has great prospects.
We all know that different blockchain features have spawned many innovative businesses. Some rely on the privacy protection brought by the anonymity of the blockchain, some rely on tokens minted based on the trust brought by consensus algorithms, and some rely on the form of "world computer" brought about by smart contracts. All of this makes the entities on the chain have a completely different operation and profit model from traditional companies.
At the same time, the open-source nature and Token incentive model of the blockchain world make the blockchain world a place that is far more active and decentralized than people imagine.
However, all opportunities bring challenges, and all the above-mentioned advantages will generate different needs. If these needs are not well met, opportunities can easily turn into disasters. Existing public chains more or less have some bottlenecks, perhaps performance, such as delay or tps, high Gas Fee, high usage threshold, and even reliability and security issues.
And this is where EOS is well-balanced as a public chain, and EOS has some unique advantages in this regard.
First of all, EOS is a proven public chain with excellent performance. As Yevs said, EOS has steadily supported a huge number of transactions every day for many years. Obviously, EOS can bring a good experience to DeFi, especially digital asset transactions, and this is also the basis of everything else.
Secondly, the blockchain world is currently experiencing a digital content consumption, especially in the boom of games. EOS has produced many popular games both in the past and now. In a sense, this shows that EOS is technically very friendly to games, and this has also been recognized by users. Therefore, the good gaming experience of EOS can be brought to the world of EVM through EOS EVM. I am looking forward to seeing what kind of chemical reaction they will have.
Finally, through the high performance of EOS, we can make the interactive experience of Web3.0 close to Web2.0 in terms of latency. The average Web 2.0 user may be able to accept a one-second delay when using an application, but definitely not 10 seconds. And this delay is also one of the key obstacles preventing Web2.0 users from migrating to Web2.0. Therefore, an EVM that can enjoy the low latency brought by EOS will be able to bring more popular applications to Web2.0 users. This will not only bring high user growth, but also more possibilities.
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Wonderful review of the KOL Q&A session Little Lotus
Hello everyone, we are Xiaohe Community. I think whether the Ethereum common chain or the EVM common chain, their prosperity is part of encryption technology. In the future, there is a great possibility to convert users of one shared chain into users of another shared chain. The combination of Ethereum shared chain and EVM shared chain is a collaborative effect of "1+1>2", rather than a competitive relationship.
My question is: the common chain can bring greater inclusiveness. After the EVM co-chain of the EOS network is officially launched in the future, can the stability and speed of the EOS network be better resolved?
Yves replied:
EOS has been very stable, it has been battle-proven for 4 years, but we are always looking to improve performance. EOS will also continue to develop new features and innovations. For example, our API life cycle improvement and faster finalization and synchronous calls will also be described in detail in the ENF blue paper and will be emphasized as a priority in EOSIO+. These continuous improvements and innovations will benefit both the native EOS and the EOS EVM.
Matias replied:
EOS Mainnet has been tested in a production environment and can handle thousands of transactions per second without compromising stability and security. We believe that the EOS network is still up to the task of supporting high-load EVM transactions.
Anger Rabbit Community Anger Rabbit Community
Hello everyone, I am Strawberry Milk from the Grumpy Rabbit community. Our community mainly does some technology sharing, such as GameFi data sharing, new revenue calculation, project investment analysis, etc. Let’s talk about the benefits from the perspective of our community.
From the perspective of users, some novice members in our community often ask why the EOS wallet cannot use Fox. After EV compatibility on EOS, I believe that novice users in the community can smoothly transition to EOS and use a similar area. Block chain browser, mobile wallet and little fox. They don't even feel the difference. The best product is to make users unable to realize its existence. I believe that with the launch of EVM, our education costs will plummet, and ecological users will rise rapidly.
From the perspective of developers, our community is also a place where scientists gather and communicate. As a husband chain, many original concepts of EOS are actually very advanced. The market value does not represent the technical level, but because of the heat issue, there are very few people who really master its development skills. There aren't many open source tools either. Our community has not studied deeply. With the launch of EVM, we can quickly enter the EOS ecosystem. With the launch of other excellent protocols on EOS, we can quickly make some things such as data kanban analysis, monitoring, and functional assistance. Serve community users and contribute to the EOS ecological output of many useful gadgets. Let our community and EOS win-win, mutual benefit.
Finally, my question is: Will there be a community cooperation plan in the future of the EOS ecosystem?
Answered by Yves：
ENF has established a variety of community cooperation methods such as the Pomelo Grants platform, Eden, and the ENF direct funding framework. In the near future, the Yield+ working group will also release a new liquidity incentive plan, mainly focusing on promoting the DeFi and GameFi ecosystems to attract funds on the chain Come up with EOS and EOS EVM Trust. We will definitely carry out more cooperation in the future.
Stablock CommunityStablock Community
Hello, everyone. I am the founder of Stablock. You can call me Zero. I am very happy to be invited to participate in the EOS EVM space event. I just thank Mr. Yves for taking us back to the history of EOS. EOS is indeed an old public chain. I The first wallet to enter Crypto is the Tokenpocket that supports EOS. At that time, it took a lot of trouble to open an account. Although the EVM development of EOS was difficult at that time, it still gave birth to many interesting GameFi ecosystems, so I would like to ask, after the introduction of compatibility Solidity, faced with many existing EVM public chains and the recent hot non-EVM high TPS public chain Solana , How does EOS build a competitive advantage? Does Compatibility EVM compromise its own security?
Yarkin answered：
First of all, in terms of ecology, we must thank Ethereum and Solana for their efforts and contributions, allowing us to stand on the shoulders of their giants and consolidate the basic application of the Trust project. We will cooperate with many existing mature projects. In particular, many DeFi projects directly introduce them into the EVM ecology, and optimize and micro-innovate based on the technical characteristics of EOS itself to provide a better user experience.
Secondly, for the user growth of Trust, the number of users of the entire Ethereum is actually less than 20% of the Web2.0 user base, so there is actually a lot to do in terms of new users. We will increase community development around Game and NFT We will create innovative applications, exclusive content and traffic passwords exclusively for Trust, and introduce new users to Web2.0. Of course, we will not treat the loyal fans of the existing community badly, so please look forward to the follow-up ecology. construction work.
Finally, from the perspective of reverse investment, EOS has performed poorly in the past for a long time, but still has good liquidity, and at the same time, there is a huge room for optimization, which means that we have a solid foundation and a huge ROI space. From a point of view, compared with other excellent public chains, it is quite attractive for both developers and investors
Matias replied:
Compatibility EVM will not destroy the security of EOS itself. Supporting EVM on EOS will not break current EOS network security. EVM smart contracts run within the EOSVM sandbox like other regular contracts. In addition, the EOS EVM runtime will also conduct compliance testing, and plans to invite Sentnl and Slowmist to conduct security audits.
Colorful Community Colorful Research Institute
Hello everyone, I am from Qicai Research Institute. We are a one-stop service community focusing on blockchain. We learned that the EVM core working group is one of the nine core working groups established by the EOS Network Foundation. Other core working groups include API+ , Core+, Wallet+, Audit+, Market+, Yield+, Recover+ and EOSIO+.
In the future, the core working group framework will continue to be the main method to promote the development of EOS ecological DeFi, GameFi and other important tracks, and the core working group will also provide support for the implementation of businesses and services in the EOS roadmap. The EVM working group directly develops and delivers products, so as to achieve EVM compatibility at the EOS smart contract level faster.
My question is: because EVM compatibility can be said to open a door for the EOS ecosystem, EOS still faces two huge challenges, how can the EVM working group achieve EVM compatibility and create the best solution? Can you introduce the EVM developer team and its advantages to our project?
Matias replied:
The EVM has a clear specification, and the way we approach EVM compatibility is to pass all compliance tests for the EVM, which is our guiding principle.
Yarkin replied:
Trust is composed of a global team of innovative developers, led by the EOS Argentina team, and joined a group of talented developers, including Areg Hayrapetian, who is also the technical director of EOS, and Matias, who is also a DPOS development expert. Other developers are also excellent entrepreneurs from YC entrepreneurial projects or developers who have participated in star blockchain projects. At the same time, we are still constantly absorbing senior technical talents in the industry as a development or consulting team, so I won’t list them here, and you will have the opportunity to get to know them one by one later.
Speaking of advantages, technically speaking, EVM is not only related to Ethereum, but also related to the technology of EOS. We will perfectly combine the two to bring out the best performance of EOS. Therefore, our existing team will be the most suitable, with a deep understanding of both EVM and EOS technology.
Question one:
Question one:
We know that if any public chain wants to succeed, its ecology will have its own funding plan. I would like to know what the funding plan of the EOS Network Foundation is like? How big is it?
Yves replied:
First of all, we now have Pomelo, which is the secondary crowdfunding platform of the EOS ecosystem. Pomelo is the EOS version of Gitcoin. Public product project parties can submit funding applications through the Pomelo platform. The second season of Pomelo is currently underway, and the EOS Network Foundation has provided a funding plan of over US$1 million for it. Everyone is welcome to participate.
Second, the EOS Network Foundation has also established a direct funding framework. Funding proposals are divided intothree levels, each level has a different amount and funding criteria. Each level of funding has different requirements and funding amounts, depending on the size and scope of the project and related funding needs.
Personal/Small — $10,000
Team/Medium — Up to $50,000
Corporate/Large — $50,000+
Question two:
Question two:
In the past three years, the development of the EOS ecosystem has been unsatisfactory, but after the establishment of the EOS Network Foundation, we have indeed seen many changes. Many projects in the EOS ecosystem have also received funding in the past 6 months. I would like to ask, what kind of funding plan does the EOS Network Foundation have for ecological DAO organizations?
Yves replied:
We have indeed missed a great bull market. In my communication with ecological stakeholders, I found that everyone’s impression of EOS is not very good. This may be because we often associate EOS with Block.one in the past. Together.
Because of Block.one's inaction, everyone has a bad feeling about EOS, but I want to say that the performance of EOS products is very strong, and EOS also has a very active community.
In December last year, the EOS community’s dissatisfaction with Block.one reached a climax. The community united with BPs to stop releasing tokens to Block.one through multi-signatures and fired Block.one. But this is far from enough. The EOS Network Foundation has also taken legal measures to hold Block.one accountable, requiring Block.one to be responsible for its past actions that harmed the community.
Question three:
Question three:
EOS can be said to be the best solution for technical performance in the blockchain industry, so which dApps in the EOS ecosystem fully demonstrate the sub-second speed and performance of EOS? Also, for those who are not familiar with the technical names, what does it mean to be fully RPC compatible? why is it important
Matias replied:
An important goal for us to achieve EOS EVM compatibility is to help more developers interact with other chains and build products on EOS more easily, and RPC compatibility enables EOS EVM to support most Ethereum code commands, so that these commands can Easier to use by developers. If there is no RPC compatibility, the significance of EOS EVM to the EOS ecological development may be greatly reduced, which is one of the reasons why we have always been concerned about achieving RPC compatibility.
Yves replied:
Question four:
Question four:
Is the EOS EVM similar to the Telos EVM? Have you considered promoting with Telos EVM? In addition, there are many public chains that support EVM. How does the EOS Network Foundation attract developers to EOS ecological development projects?
Yves replied:
First of all, Telos works closely with us, and we also build and develop EVM based on the same underlying layer, so Telos and the EVM+ working group often communicate and share code knowledge. But the difference is that EOS EVM is fully RPC compatible, while Telos EVM is one step ahead of us, but it is not fully RPC compatible.
But we are not in competition with Telos EVM. We can see that on April 8, 2022, four blockchains based on the EOSIO protocol: EOS, Telos, WAX and UX Network announced the integration of four-party development resources and the formation of an alliance. Take over the development of the core code of the EOSIO protocol. We are working together to develop the EOS ecology.
Secondly, EOS EVM was indeed deployed relatively late, but the EOS ecosystem has very high liquidity, and this liquidity potential has not been discovered by others in the past four years. Now with EVM, projects on other chains can be transplanted in a very simple way, or developed on EOS very simply, and the liquidity in the EOS ecosystem can be greatly released.
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About EOS
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About the EOS Network Foundation
The EOS Network Foundation is a non-profit organization that aims to listen to the voice of the community, convey the wishes of the community and support the development of high-quality projects in the community, become a bridge for information sharing in the EOS community, and provide funds, technology, operations, future planning, Key infrastructure support such as ecological construction further develops the full potential of EOS as the world's fastest governance-based blockchain.
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