Evmos, an EVM, or Ethereum Virtual Machine, is now coming to Cosmos as expected. With this update, Evmos will be interoperable with both the Ethereum and Cosmos (ATOM) ecosystems.

The developers of Evmos, formerly Ethermint, announced that they are now on the Cosmos network after years of development. Users and developers will have access to the Layer 1 blockchain of Cosmos, an interoperability platform with more than 250 applications and services. Evmos allows users to use Ethereum's smart contracts and asset distribution mechanism in the Cosmos ecosystem.

Evmos founder Federico Kunze Küllmer

Evmos founder Federico Kunze Küllmer said the following on the subject;

   “We have implemented additional controls over the claims process and have also initiated our recovery for all trapped funds. We also have clear guidance on how to claim tokens and recover permanently stuck tokens.

We have these software upgrade guides for all of our users so that not only can they benefit from the learning experience we've had with these failed upgrades, but also other users in the Cosmos ecosystem."

Cosmos Eth Evmos

Initially, Evmos was released as Ethermint by the Tharsis team in 2016. The most important point that distinguishes Evmos from others is that, unlike Cosmos chains, it is fully compatible with the Ethereum Virtual Machine used in the Ethereum blockchain. With this compatibility, the Evmos team integrates this EVM mechanism into the system, making many applications available on the Ethereum network. On the other hand, there seems to be widespread adoption for Ethereum's EVM, especially in the last year. Today, alternatives to these solutions of Ethereum such as Avalanche (AVAX), Polygon (MATIC), BNB Chain and Fantom are tried to be created.

With this development, it is thought that the network activity of Cosmos will increase and its native token, ATOM, will see a serious increase. At the time of writing this news, Cosmos' native token ATOM is trading at $20.84, according to CoinMarketCap data. Although ATOM is below the $23 resistance level, it can achieve a serious increase in adoption with this development. In general, ATOM continues its downtrend above 13% on a weekly basis and 28% on a monthly basis.