The EOS blockchain has revealed its plan to incentivize developers ahead of the launch of the Ethereum Virtual Machine (EVM) next month. In anticipation of this launch, the price of EOS has surged nearly 8% in the past week.
Despite its initial success, EOS had lost its momentum since 2018. However, the news of the EVM upgrade has reignited investor interest in the project. The EVM mainnet is scheduled to launch on April 14, 2023, and an incentive campaign to build EVM-compatible applications will commence with prizes ranging from $5,000 to $50,000.
The EVM software enables smart contracts and monitors the state of the Ethereum network, providing a seamless platform for developers to create decentralized applications. Data from Coingecko showed that the price of EOS has increased by 7.8% in the past seven days, reaching a high of $1.25 on March 4.
However, at the time of writing, EOS has dropped 2.8% in the last 24 hours, trading at around $1.21 with a trading volume of $179,238,026, down 94.70% from its all-time high of $22.71 reached in April 2018.
