Cypherium launches support for Ethereum Virtual Machine (EVM) and Solidity

Cypherium, a highly scalable and permissionless blockchain platform, today announced that they have enabled support both for an Ethereum Virtual Machine (EVM) as well as the Ethereum Network’s primary coding language, Solidity. The benefits that come with this are many, but include bringing about much greater interoperability for Cypherium itself, and also means that Ethereum…
Cypherium launches support for Ethereum Virtual Machine (EVM) and Solidity

Cypherium, a highly scalable and permissionless blockchain platform, today announced that they have enabled support both for an Ethereum Virtual Machine (EVM) as well as the Ethereum Network’s primary coding language, Solidity. The benefits that come with this are many, but include bringing about much greater interoperability for Cypherium itself, and also means that Ethereum based smart contracts can be deployed on the network.

This development will enable full compatibility between Cypherium and Ethereum, allowing developers to seamlessly migrate assets between both blockchains. This will also let regular users access EVM-based projects deployed on Cypherium, all while enjoying significantly reduced gas fees and faster block production. This comes as an important step for Cypherium’s vision of achieving commercial viability by promoting cross-platform functionality in both traditional cryptocurrencies as well as the new breed of Central Bank Digital Currencies (CBDCs).

Compatibility with the EVM is a prerequisite for Solidity integration, the language that ETH smart contracts are written in. This is so important to Cypherium’s road map due to the fact that, currently, Ethereum is by a wide margin the most active blockchain for decentralized finance (DeFi) applications (dApps). Thanks to this update, all Ethereum based services can now be deployed on Cypherium and enjoy the benefits of the speed and scalability that the chain has to offer.

Cypherium is a permissionless blockchain solution, with a hybrid consensus mechanism that utilizes both proof-of-work and HotStuff Byzantine fault tolerance. Unlike many second and third-generation blockchains that abandon the original premise of an open, trustless consensus mechanism, Cypherium attempts to build on the valuable innovations of previous blockchains.

They do this by providing a consensus mechanism with unprecedented transaction throughput and contract execution time through HotStuff while leveraging an ASIC-resistant PoW system that maintains a thoroughly decentralized node election. With only 20ms block time, which is 40x faster than Solana, Cypherium is the fastest proof-of-work blockchain in the world. By adopting proof-of-work, Cypherium also gains the unique advantage of being regulatory compliant.

“Compatibility with Ethereum means that we can now show users how much more powerful DeFi can be when it’s on an enterprise-level blockchain. We see this as merely the beginning, and can’t wait to see what types of developments come from this update.”


– Sky Guo, CEO at Cypherium

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Blocknative adds support for Fantom blockchain to provide users with real-time tooling
Read More

Blocknative adds support for Fantom blockchain to provide users with real-time tooling

Web3 developers, dApps and traders within the Fantom ecosystem can now leverage Blocknative’s transaction orchestration infrastructure for trusted transactions... Related News Blocknative, a blockchain infrastructure platform to work with mempool data, announced the immediate availability of the Blocknative Ethereum Gas Estimator as a browser extension tool on Chrome and Brave. Now any ecosystem participant can...…
Bittrex Global appoints Paul Grier as new Chief Marketing Officer
Read More

Bittrex Global appoints Paul Grier as new Chief Marketing Officer

Related News Bittrex Global, the Liechtenstein-based bitcoin and crypto exchange, announced today it is introducing new product features that will give users of the platform additional benefits, control and flexibility when trading crypto-assets. The features include... Read more Biteeu, a crypto exchange built on with technology from the Bittrex trading platform, announced that it has…
Payment platform Advcash integrates Nexo’s crypto yield-generating API
Read More

Payment platform Advcash integrates Nexo’s crypto yield-generating API

Nexo, the crypto-asset lending and investment platform, has expanded its B2B yield-generating product by integrating its Earn API with Advcash, a multi-asset payment platform. Nexo’s competitive yields on cryptocurrency savings are now easily available to over four million Advcash users. Advcash offers a payment platform for both fiat and cryptocurrencies with fast and flexible accounts…