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IRISnet to Release Version 2.0 Upgrade with Ethereum Virtual Machine Support

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On March 21st, it was announced that IRISnet, built on Cosmos SDK, will release a version 2.0 upgrade and plan to add support for Ethereum Virtual Machine (EVM), integrating EVM ba

IRISnet to Release Version 2.0 Upgrade with Ethereum Virtual Machine Support

On March 21st, it was announced that IRISnet, built on Cosmos SDK, will release a version 2.0 upgrade and plan to add support for Ethereum Virtual Machine (EVM), integrating EVM based smart contracts and dApps into the IRISHUB ecosystem. In addition, IRISHUB 2.0 will introduce a new fee token converted from IRIS for the EVM ecosystem.

IRISnet 2.0 upgrade adds EVM support and introduces a new fee token

IRISnet, a blockchain built on the Cosmos SDK, is set to release its version 2.0 upgrade. The upgrade will introduce support for the Ethereum Virtual Machine (EVM), allowing for the integration of EVM-based smart contracts and decentralized applications (dApps) into the IRISHUB ecosystem. Additionally, the update will introduce a new fee token converted from IRIS for the EVM ecosystem.

What is IRISnet?

IRISnet began as a project to create an interchain service hub for next-generation distributed applications. The platform is built on the Cosmos SDK, which allows for the creation of new blockchain networks that can be easily connected and work together seamlessly. This enables developers to build and deploy scalable, interoperable, and secure applications that can interact with other blockchain networks.

IRISHUB 2.0 Upgrade

The IRISHUB 2.0 upgrade is set to push the already robust platform to new heights, with the integration of the EVM. This will enable developers to build and deploy smart contracts and dApps using Solidity, the programming language used by the Ethereum blockchain. By doing so, developers can benefit from the advanced capabilities and tools provided by Ethereum while still leveraging the scalability and interoperability provided by IRISnet.

Benefits of EVM Integration

The integration of the EVM into IRISnet will allow for the seamless integration of Ethereum dApps into the IRISHUB ecosystem. This will enable developers to take advantage of the unique features provided by the Cosmos SDK, such as the ability to create customized inter-blockchain communication (IBC) channels, store and manage state data, and build fast and efficient consensus algorithms.
Moreover, the EVM integration can help in reducing the time, efforts, and costs incurred in the development of smart contracts and dApps. With the ability to leverage Ethereum’s rich ecosystem, developers can easily access proven smart contract templates, advance development tools, and a large community of users and developers.

IRIS Token Conversion

The IRISHUB 2.0 upgrade will introduce a new fee token, which will be converted from IRIS for the EVM ecosystem. The new token is expected to reduce transaction fees and incentivize the use of the EVM on the IRISHUB network.

Conclusion

Overall, the integration of the EVM into IRISnet is a significant step towards creating a more interconnected and secure ecosystem for users and developers. With the ability to leverage Ethereum’s rich ecosystem, developers can build and deploy advanced dApps and smart contracts efficiently while benefiting from the unique features of the Cosmos SDK.

FAQs:

Q: What is IRISnet?

A: IRISnet is a blockchain network built on Cosmos SDK that allows for the creation of interchain service hubs for next-generation distributed applications.

Q: What is the IRISHUB 2.0 upgrade?

A: The IRISHUB 2.0 upgrade is set to add support for the Ethereum Virtual Machine and introduce a new fee token converted from IRIS for the EVM ecosystem.

Q: What are the benefits of EVM integration into IRISnet?

A: The integration of the EVM into IRISnet will enable the integration of Ethereum dApps into the ecosystem and reduce the time, efforts, and costs of developing smart contracts and dApps. It will also enable developers to benefit from the unique features provided by the Cosmos SDK.

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