Zilliqa’s Latest Upgrade: The Introduction of EVM Compatibility

On April 27th, it was announced that Layer 1 blockchain Zilliqa has successfully deployed a main network upgrade that can achieve EVM compatibility. The Ethereum virtual machine EVM has been launched on the main network, and its network is now able to handle transactions normally. The exchange has also resumed ZIL charging.

Zilliqa has successfully deployed a main network upgrade that can achieve EVM compatibility

Introduction

On April 27th, Layer 1 blockchain Zilliqa announced a major upgrade that has made its network compatible with the Ethereum Virtual Machine (EVM). This move marks the latest development in Zilliqa’s attempts to solve the issue of scalability and performance within blockchain networks. In this article, we will explore the ins and outs of this upgrade, including how it works and what benefits it brings.

What is Zilliqa?

Before we dive into the upgrade, let’s first understand what Zilliqa is. Zilliqa is a public, permissionless blockchain that uses sharding to improve network efficiency and increase scalability. Sharding is a process of dividing the network into smaller groups of nodes, or shards, that can process transactions in parallel. This means that Zilliqa can handle a higher volume of transactions per second, making it a good competitor to Ethereum.

The Need for EVM Compatibility

While Zilliqa is an innovative blockchain network, it has still faced challenges in gaining widespread adoption. One of the main factors holding Zilliqa back has been incompatibility with other networks. Without compatibility with other blockchains, there is a lack of interoperability, which makes it less appealing to developers and other users.

The Solution: EVM Compatibility

To address this issue, Zilliqa introduced EVM compatibility. The Ethereum Virtual Machine (EVM) is a virtual machine that enables smart contracts to execute on the Ethereum network. By introducing EVM compatibility, Zilliqa is now able to support smart contracts written in Solidity, the main programming language used for building smart contracts on Ethereum. By supporting Solidity, Zilliqa hopes to attract more developers to its network, which in turn will lead to more applications and use cases.

The Benefits of EVM Compatibility

So, what are the benefits of EVM compatibility for Zilliqa? Here are some of the key advantages:

Interoperability

As mentioned earlier, the main advantage of EVM compatibility is interoperability. With EVM compatibility, Zilliqa can now support smart contracts built on Ethereum. This opens up a world of possibilities for cross-chain communication, which can enable the creation of decentralized applications (dApps) that span multiple blockchains.

More Developers

Ethereum is currently the most popular platform for building decentralized applications. By supporting Solidity, Zilliqa can now tap into a large pool of Ethereum developers, who can transition their existing applications to Zilliqa with minimal effort. This makes Zilliqa a more attractive platform for developers, which can lead to more innovation and growth.

More Use Cases

With more applications and developers on its platform, Zilliqa can expand its use cases. Zilliqa’s sharding technology already makes it attractive for use cases that require high throughput, such as gaming and finance. With EVM compatibility, Zilliqa can also target use cases that are currently being developed on Ethereum, such as decentralized finance (DeFi) and non-fungible tokens (NFTs).

ZIL Charging Update

In addition to the EVM compatibility, Zilliqa has also updated its exchange procedures. The exchange has resumed ZIL charging, which allows users to buy or sell ZIL at market price without any restrictions. This update makes it easier for users to acquire or sell ZIL, which can further increase its adoption and use cases.

Conclusion

Zilliqa’s latest upgrade marks an important milestone in the blockchain industry. By introducing EVM compatibility, Zilliqa has taken a big step towards interoperability and attracting a wider audience. With more developers and use cases, Zilliqa has the potential to become a major player in the blockchain space. The update to the exchange procedures will also allow more people to acquire or sell ZIL, which can further increase its adoption.

FAQs

1. What is Zilliqa?

Zilliqa is a public, permissionless blockchain that uses sharding to improve network efficiency and increase scalability.

2. What is EVM compatibility?

EVM compatibility means that a network can support smart contracts built on the Ethereum network using Solidity, the main programming language for building smart contracts on Ethereum.

3. What are the benefits of EVM compatibility for Zilliqa?

EVM compatibility brings interoperability, more developers, and more use cases to Zilliqa. This can lead to more innovation and growth for the platform.