Cypherium, a kind of height Scalable and permissionless blockchain platform, Today announced that they have enabled support for the Ethereum Virtual Machine (EVM) and Solidity, the main coding language of the Ethereum network. The ensuing benefits are many, but they include greater interoperability for Cypherium itself, and it also means that smart contracts based on Ethereum can be deployed on the network.
This development will make Cypherium and Ethereum fully compatible, allowing developers to seamlessly migrate assets between the two blockchains. This will also allow ordinary users to access EVM-based projects deployed on Cypherium, while enjoying significantly reduced gas costs and faster block production. This is an important step in Cypherium’s vision of achieving commercial viability by promoting the cross-platform functions of traditional cryptocurrencies and the new central bank digital currency (CBDC).
Compatibility with EVM is a prerequisite for Solidity integration, which is the language for writing ETH smart contracts. This is very important to Cypherium’s roadmap, because at present, Ethereum is largely the most active blockchain (DeFi) application (dApps) for decentralized finance. Thanks to this update, all Ethereum-based services can now be deployed on Cypherium and enjoy the benefits of speed and scalability that the chain must provide.
Cypherium is a permissionless blockchain solution with a hybrid consensus mechanism, using Proof of Work and HotStuff Byzantine fault tolerance. Unlike the original premise of many second- and third-generation blockchains that gave up an open and trustless consensus mechanism, Cypherium tries to build on the valuable innovations of previous blockchains.
They provide a consensus mechanism with unprecedented transaction throughput and contract execution time through HotStuff, and at the same time use an ASIC-resistant PoW system to maintain a completely decentralized node election to achieve this. Cypherium’s block time is only 20 milliseconds, which is 40 times faster than Solana, and is the world’s fastest proof-of-work blockchain. By adopting proof of work, Cypherium has also gained a unique advantage in compliance.
“Compatibility with Ethereum means that we can now show users how powerful DeFi is on the enterprise blockchain. We think this is just the beginning, and can’t wait to see what types of development this update will bring. “
– Sky Guo, CEO of Cypherium