Wanchain has confirmed that the new Ethereum Virtual Machine (EVM) for the protocol will be launched later this month. The blockchain protocol started an upgrade of the Gwan EVM in April. The goal was to make Wanchain’s blockchain compatible with the EIP1559 protocol and the Ethereum London Fork EVM.
After the upgrade, Wanchain called for community members to test the protocol and send their feedback. The project also offered bounty rewards in multiple tiers to the test participants. So far, the test has been deemed successful by the team, and no critical bugs have been reported. In the meantime, though, the bug report form will be left online until the new EVM goes live.
Wanchain also acknowledged that they were blown away by the turnout from its community members for the test, and the bounty rewards will be distributed to all participants shortly.
The New EVM Upgrade
Wanchain revealed that the EVM upgrade would facilitate the migration of DApps from Ethereum to Wanchain’s blockchain. Additionally, the upgrade will introduce a burn mechanism to Wanchain’s framework, reducing the token’s supply.
The new Gwan also supports the latest EVM opcodes, supports SHA3, and enhances a smooth upgrade for PoS validators.
The recent success of the test implies that the MetaMask wallet and all Wan wallets are compatible with the Gwan EVM. Also, DApps associated with Wanchain partners like StreamTrade, Open Zoo, and Zookeeper functioned well. Also, users did not face critical issues when exploring DeFi features like farming and staking on the DApps.
Wanchain, a fork of Ethereum, hit the DeFi ecosystem in 2017. The distributed ledger permits interoperability across several blockchains. Cross-chain transactions are seamless with Wanchain, and the protocol runs autonomously.
One great feature of the protocol that has attracted so many users over the years is its support for public and private blockchains. Its cross-chain compatibility makes it possible for transactions to be done between a private and public blockchain. With the EVM upgrade almost complete, Wanchain will be looking to improve its primary use cases: borrowing, lending, crowdfunding, and multi-currency payment settlements.
