Cypherium Launches Ethereum Virtual Machine and Solidity Support | Techsauce

Cypherium Launches Ethereum Virtual Machine and Solidity Support

By Adding Compatibility For the EVM and Solidity Programming Language, Developers Can Now Deploy Ethereum Smart Contracts On Cypherium.

Cypherium, a highly scalable & permissionless blockchain platform, is thrilled to announce that they have enabled support both for an Ethereum Virtual Machine (EVM) as well as the Ethereum Network’s primary coding language, Solidity. The benefits that come with this are many, but include bringing about much greater interoperability for Cypherium itself, and also means that Ethereum based smart contracts can be deployed on the network.

This development will enable full compatibility between Cypherium and Ethereum, allowing developers to seamlessly migrate assets between both blockchains. This will also let regular users access EVM-based projects deployed on Cypherium, all while enjoying significantly reduced gas fees and faster block production. This comes as an important step for Cypherium’s vision of achieving commercial viability by promoting cross-platform functionality in both traditional cryptocurrencies as well as the new breed of Central Bank Digital Currencies (CBDCs).

Compatibility with the EVM is a prerequisite for Solidity integration, the language that ETH smart contracts are written in. This is so important to Cypherium’s road map due to the fact that, currently, Ethereum is by a wide margin the most active blockchain for Decentralized Finance (DeFi) and Applications (dApps). Thanks to this update, all Ethereum based services can now be deployed on Cypherium and enjoy the benefits of the speed and scalability that the chain has to offer.

Cypherium is a permissionless blockchain solution, with a hybrid consensus mechanism that utilizes both proof-of-work and HotStuff Byzantine fault tolerance. Unlike many second and third-generation blockchains that abandon the original premise of an open, trustless consensus mechanism, Cypherium attempts to build on the valuable innovations of previous blockchains. They do this by providing a consensus mechanism with unprecedented transaction throughput and contract execution time through HotStuff, while leveraging an ASIC-resistant PoW system that maintains a thoroughly decentralized node election. With only 20ms block time, which is 40 times faster than Solana, Cypherium is the fastest proof-of-work blockchain in the world. By adopting proof-of-work, Cypherium also gains the unique advantage of being regulatory compliant.

Sky Guo, CEO at Cypherium said: “This is an essential part of our overall designs for Cypherium. Compatibility with Ethereum means that we can now show users how much more powerful DeFi can be when it’s on an enterprise-level blockchain. We see this as merely the beginning, and can’t wait to see what types of developments come from this update.”


###


About Cypherium
Cypherium is a layer 1 blockchain protocol designed to offer financial inclusion for its users whilst delivering operational efficiencies for its enterprise and institutional partners. Using a hybrid consensus mechanism, the Cypherium blockchain is designed to achieve commercial viability while preserving the characteristics of decentralization and DLT. As a proof-of-work blockchain, Cypherium does not run the risk of being classified as a security. Cypherium’s approach to creating financial inclusion between civilians, banks, government, and enterprises begins with our Digital Currency Interoperability Framework. The DCIF is Cypherium’s proprietary architecture for allowing any asset, including CBDCs, stable coins, and digital assets, to be received or distributed on-chain or cross-ledger. For more information, visit www.cypherium.io

RELATED ARTICLE

Responsive image

Forward integrate Chainlink Price Feeds and Keepers to help power its DeFi Exchange and LBP

Forward is excited to announce that we are integrating Chainlink Price Feeds on BNB Chain mainnet to support our exchange and lending and borrowing protocol (LBP)....

Responsive image

Invitrace vision of A.I. Digital Biomarker : A new era for healthcare provider

Healthcare is undergoing tremendous technological change, new technologies must be leveraged to generate, gather, and track real-time data. Invitrace vision of A.I. Digital Biomark...

Responsive image

KX teams with Ookbee to support creators, artists, writers and musicians enter the digital art world of NFT and Metaverse

KX teams with Ookbee to support and act as a launching pad for creators, artists, writers and musicians from UGC platforms to enter the digital art world of NFT and Metaverse...