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EVM Extensions: A Paradigm Shift in Interoperability and Composability
Evmos continues to bring Ethereum and Cosmos together with their Apeiron v13 update.
Evmos continues to bring Ethereum and Cosmos together with their Apeiron v13 update. Let's explore the power of EVM Extensions:
• Bridging the isolation gap
• The Outpost model
• Dynamic IBC
EVM Extensions, part of Evmos Apeiron v13, merge the Ethereum Virtual Machine (EVM) and Cosmos, unlocking huge potential for smart contracts. This synergy transcends boundaries in DeFi, enabling truly cross-chain dApps and revolutionizing smart contract development.
With EVM Extensions, Evmos dApps can seamlessly interact across different Inter-Blockchain Communication (IBC) chains within the Cosmos ecosystem. This enhances liquidity, fosters collaboration, and propels Evmos to new heights of advancement.
Bridging the isolation gap
EVM Extensions bridge the isolation gap by granting smart contracts access to core protocol functionalities like staking, voting, and IBC. This amplifies the capabilities of smart contracts and expands their reach beyond the EVM environment.
Smart contracts utilizing EVM Extensions can automate staking or delegation of tokens, integrate voting and governance functionalities, and communicate with smart contracts on other chains using IBC Protocol. It's a new era of interoperability and composability.
The Outpost model
The Outpost model is a key implementation of EVM Extensions. Outposts, smart contracts on Evmos, act as relays for services on different chains. IBC middleware processes data packets, routing them to the appropriate smart contracts for seamless interaction.
Imagine a token swap between different coins facilitated by a smart contract called "Contract A" within the EVM. Through the Outpost model, user-initiated swaps generate data packets routed to Contract A. The contract executes the swap according to the packet's details.
Outposts can handle complex scenarios, with multiple packets routed to different contracts. For example, one contract handles the swap, another calculates fees, and a third updates a user's balance. IBC middleware ensures packets reach the right contracts for processing.
A practical use case is Stride, the liquid staking protocol within the Cosmos ecosystem. EVM Extensions streamline the workflow, allowing users to interact with the Stride Outpost contract on Evmos, transferring assets to Stride for liquid staking, simplifying the entire process.
Dynamic IBC
EVM Extensions enable users to connect to Evmos using popular wallets like Keplr, MetaMask, or Ledger. Soon, Dynamic IBC will enhance composability further allowing smart contracts to communicate & define customized packets, interacting with different VM frameworks!
The future of cross-chain communication is here, it's just not evenly distributed!