Layer1 Blockchain Zilliqa Announces Specific Arrangements and Future Deployments for Launching EVM on Main Network

On April 25th, according to the official blog, Layer1 blockchain Zilliqa announced specific arrangements and future deployments for launching EVM on the main network. EVM compatibility will be deployed on Zilliqa’s main network as part of the update to v9.0.0 version at 16:00 Beijing time on April 25th. The network downtime will start at 16:00 on April 25th and last for up to 24 hours to facilitate the network upgrade process. During this period, the network will not process any transactions. It is recommended to suspend the main network charging and withdrawal services during the network upgrade period. After the upgrade process is completed, the network will resume normal transaction processing.

Zilliqa will launch an upgrade to deploy EVM compatibility on the main network today, and the network will be suspended for 24 hours during the upgrade period

Introduction

On April 25th, 2021, Layer1 blockchain platform Zilliqa officially announced its plans to launch the Ethereum Virtual Machine (EVM) on its main network. With this development, Zilliqa will become the first public blockchain to deploy sharded smart contracts on a Layer 1 solution.

Why is This Significant?

The deployment of EVM on Zilliqa’s main network is significant for several reasons. First, it will enable developers to write smart contracts in Solidity, the programming language used on the Ethereum blockchain. The integration of EVM into Zilliqa’s network will make it possible for developers to port over their code from Ethereum, providing them with access to a larger user base and expanded market opportunities.
By implementing EVM-compatible smart contracts, Zilliqa hopes to tap into the explosively growing decentralized finance (DeFi) platform. Furthermore, this integration will lead to a significant improvement in the Zilliqa network’s capacity, facilitating increased scalability and boosting transaction throughput.

What is Zilliqa?

Zilliqa is a high-performance, secure blockchain platform that offers fast and affordable transaction processing. The platform uses a unique sharding technology designed to provide linear scaling as the number of nodes increases. The network has been seeing increased usage in several domains, including finance, gaming, and digital marketplace, among others. Zilliqa is recognized for its secure, user-friendly, and high-throughput solutions.

The Path Ahead

The next phase for Zilliqa after deploying EVM onto its mainnet is to focus on developing its ecosystem, including its so-called ZilHive project. This initiative involves building tools, platforms, and documentation to help developers build applications on Zilliqa’s network.
Zilliqa has also announced that it plans to launch several new initiatives aimed at improving scalability and improving user experience, including an NFT marketplace, stablecoins, and decentralized exchanges.

Conclusion

The deployment of EVM on Zilliqa’s main network marks a significant milestone in the development of the blockchain industry. This step is set to significantly expand the capabilities of the Zilliqa network and enhance the smart contract landscape. With more efficient sharding technology and expanded smart contract capabilities, Zilliqa hopes to become a major player in the decentralized finance (DeFi) space.

FAQs

1. What is the significance of launching the EVM on Zilliqa’s main network?
Zilliqa will become the first public blockchain to deploy sharded smart contracts on a Layer 1 solution.
2. What benefits does Zilliqa hope to derive from implementing EVM-compatible smart contracts?
The integration of EVM will lead to a significant improvement in the Zilliqa network’s capacity, facilitating increased scalability and boosting transaction throughput.
3. What other initiatives has Zilliqa announced?
Zilliqa has plans to launch several new initiatives aimed at improving scalability and user experience, including an NFT marketplace, stablecoins and decentralized exchanges.