Welcome to the new era of Evmos’ EVM Extensions! If you're not yet familiar with what EVM Extensions are, you'll be interested to know they act as a gateway to a world of possibilities, allowing decentralized applications (dApps) and users to venture beyond the boundaries of the Ethereum Virtual Machine (EVM). Their mission? Facilitate unprecedented interchain transactions thanks to the IBC protocol and connect with key features in Evmos.
So, what exactly are EVM Extensions?
At first glance, EVM Extensions might seem like just another variety of smart contracts, but upon closer examination, they represent a significant evolutionary leap in the blockchain space. EVM Extensions are precompiled smart contracts, a sort of advanced code that's already implemented within the EVM, but with a unique capability: building interconnection bridges with the IBC protocol of Cosmos.
In essence, they are authentic innovators that expand what's possible in Evmos. They open a window that goes beyond the usual limits of the EVM, allowing dApps and users to access previously uncharted functionalities. Through their gateway, they can orchestrate interchain transactions (via IBC), and interact with key Evmos chain functions such as staking and voting, all from the comfort of the EVM.
In short, EVM Extensions are the piece that unites the Ethereum and Cosmos ecosystems, bringing two worlds together in a continuous flow of possibilities.
The Value and Advantages of EVM Extensions
EVM Extensions don't just connect worlds—they also unlock a myriad of new use cases. These advanced smart contracts can interact efficiently with Cosmos SDK modules, enabling an unprecedented flow of functionality between the Ethereum and Cosmos ecosystems.
These extensions open the door for applications to leverage and customize the functionality of IBC and other SDK modules. This means that applications can make smart contract calls to IBC modules, enabling communication with other chains, the secure sending and receiving of assets across chains, the ability to stake EVMOS tokens, and the decentralized management of accounts.
EVM Extensions and the Era of IBC dApps
Until now, creating IBC-enabled dApps required a technical and complex process and required the creation of chains to give this functionality to their decentralized applications.
EVM Extensions have rewritten the rulebook. Now, smart contracts in Evmos can generate their own IBC-enabled dApps. The result? A universe of more versatile and powerful decentralized applications.
EVM Extensions and Liquid Staking
Without a doubt, liquid staking is a catalyst for DeFi growth in Evmos. Now, EVM Extensions will pave the way for projects like Lido and Coinbase to bring their liquid staking derivatives to Evmos.
What can smart contract developers do with EVM Extensions?
If you're a smart contract developer, prepare for a new world of possibilities. EVM Extensions give you access to:
Cross-chain DeFi: You can access liquidity on Osmosis through Outposts, exploring new opportunities for yield and financial efficiency.
Cross-chain ReFi: You can participate in ecological growth through eco-credit records on Regen Network.
Cross-chain NFTs: You can immerse yourself in the exciting world of NFTs with interoperability on Stargaze Zone.
In Conclusion: The Promising Future of EVM Extensions
Through their unique interconnection, EVM Extensions open up a new universe of possibilities, driving increased efficiency in DeFi, NFTs, and staking within the Cosmos ecosystem.
We're no longer just talking about isolated smart contracts or dApps. We're witnessing the birth of a new generation of applications and functionalities that span across chains, leveraging the unique advantages of each ecosystem.
Thanks to EVM Extensions, Evmos is raising the bar for blockchain interoperability, weaving a common thread that unites the best functionalities of Ethereum and Cosmos. The result? A universe of more powerful, dynamic, and versatile decentralized applications, capable of seamlessly interacting across different chains.
EVM Extensions are not just changing the game. They're rewriting the rules altogether. Welcome to the future of blockchain interconnection!