{"id":793,"date":"2022-05-03T18:37:08","date_gmt":"2022-05-03T18:37:08","guid":{"rendered":"https:\/\/grandpascrypto.com\/?p=793"},"modified":"2022-05-03T18:37:10","modified_gmt":"2022-05-03T18:37:10","slug":"evmos-an-evm-compatible-cosmos-chain-is-now-live","status":"publish","type":"post","link":"https:\/\/grandpascrypto.com\/evmos-an-evm-compatible-cosmos-chain-is-now-live\/","title":{"rendered":"Evmos, an EVM-compatible Cosmos chain, is now live!"},"content":{"rendered":"\n

tl;dr Summary:<\/strong> After a disastrous launch in March, Evmos\u2014the blockchain that promises to bring interoperability between Ethereum and Cosmos\u2014was relaunched on Apr 27th, 2022.\u00a0<\/em><\/p>\n\n\n\n

What is Evmos?<\/h2>\n\n\n\n

In a world where blockchains for different use cases get launched frequently, Cosmos provides a platform through which these different chains can communicate (like share data and swap tokens) with each other using Inter-Blockchain Communication (IBC) protocol. <\/p>\n\n\n\n

However, not all blockchains are compatible with Cosmos, and this is what Evmos addresses.<\/p>\n\n\n\n

Evmos is a scalable, high-throughput proof-of-stake blockchain that is fully compatible and interoperable with Ethereum but is made using the Cosmos SDK thereby combining the best of two worlds by being the first IBC-enabled EVM-based chain.\u00a0<\/p>\n\n\n\n

It allows users of all the 42 IBC-enabled<\/a> chains with 264 apps<\/a> within the Cosmos ecosystem to access dApps and smart contracts deployed on Ethereum, including DEXs, NFT marketplaces, lending & yield-farming protocols, and others. <\/p>\n\n\n\n

It is also attempting to leverage Ethereum\u2019s reach as the most popular network for dApps and smart contract development to attract more and more Ethereum developers by making it easy for them to deploy applications from Ethereum onto their chain. <\/p>\n\n\n\n

A history of failure<\/h2>\n\n\n\n

The much anticipated Evmos launch in March got marred in controversy because of bugs and users reporting problems with claiming their airdropped tokens due to a large number of hardware and software wallet integrations.<\/p>\n\n\n\n

\u201cWe have a few user experience bugs that got in the way of the airdrop and the launch. And there were users that were following incorrect guides for claiming, and their funds got stuck \u2013 that was on us because we should have been preparing for users using [blockchain wallets] Kepler and Ledger,\u201d said Evmos founder Frederico Kunze K\u00fcllmer in an interview<\/a> with CoinDesk.<\/p>\n\n\n\n

But there was another issue that started even earlier. <\/p>\n\n\n\n

\u201cOn Friday afternoon, I got a message from the core IBC team at Interchain saying that there was a potential vulnerability in the code, and that we should not create LP pools on Osmosis because of this vulnerability,\u201d said Kunze K\u00fcllmer.<\/p>\n\n\n\n

He recognized it as a \u201ccritical security vulnerability,\u201d which required a planned fix with the validators. The team created and deployed the fix that unfortunately failed and resulted in the chain freeze.<\/p>\n\n\n\n

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Network upgrade has unfortunately failed. The chain is halted and is stopped for the next 24-48 hours while the team and validators reconvene and decide next steps. No transactions will be processed in the meantime.

We are gathering all the information available.<\/p>— Evmos is LIVE \u2604\ufe0f (@EvmosOrg) March 7, 2022<\/a><\/blockquote>