Cosmos Foundation Announces Launch of Canonical EVM for Ecosystem
The Ethereum Virtual Machine (EVM) is expanding its influence within the Cosmos ecosystem. The Interchain Foundation (ICF) has announced the open-source release of evmOS, now known as Cosmos EVM, which will serve as the standard EVM implementation for Cosmos SDK-based chains.
- ICF aims to meet the demand for an EVM standard, facilitating integration of Ethereum smart contracts and liquidity into Cosmos chains.
- Previous implementations were fragmented; projects like Injective and Cronos created their own versions of EVM.
- The new Cosmos EVM will be maintained by Interchain Labs under an Apache 2.0 license, streamlining development and interoperability.
- Existing integrations have faced issues such as wallet incompatibility and bridging challenges.
- Cosmos Hub governance will need to decide on adopting CosmWasm, EVM, or both, impacting its ecosystem role.
- Potential deployment of an EVM chain using ATOM as gas could enhance ATOM's value in cross-chain settlements.
With ICF engaging major Ethereum protocols, Cosmos EVM may significantly integrate Cosmos with Ethereum, broadening its market presence.