Evmos

Evmos is an interoperable Ethereum blockchain, built on proof-of-stake (PoS). It leverages the Cosmos SDK and serves as an IBC-compatible EVM-based chain.

The PoS is compatible and interoperable with Ethereum. It was developed using the Cosmos SDK, which operates atop Tendermint Core consensus engine. Evmos enables the running of vanilla Ethereum as a Cosmos application-specific blockchain. It allows developers to have features of Ethereum and Tendermint’s PoS implementation. Since it is built atop the Cosmos SDK, it will be able to make exchanges with the Cosmos Ecosystem via the Inter Blockchain Communication Protocol (IBC).

The Evmos blockchain allows Ethereum developers to deploy their smart contracts to the Evmos EVM and use the PoS chain. Developers also benefit from clients from testnets that can be used to test and deploy their contracts. It provides built-in interoperability functionalities with other Cosmos and BFT chains by utilizing IBC. Developers can also utilize a bridge network to enable interoperability between the mainnet Ethereum and Evmos.

Evmos's features enable developers to use existing Ethereum ecosystem tooling and software to deploy smart contracts that interact with the rest of the Cosmos ecosystem. Main features of Evmos include the following:

• Web3 and EVM compatibility
• High throughput via Tendermint Core(opens new window)
• Horizontal scalability via IBC
• Transaction finality

Evmos enables these features by the following actions:

• Implementing Tendermint Core's Application Blockchain Interface (ABCI) to manage the blockchain
• Using modules and other mechanisms implemented by the Cosmos SDK.
• Utilizing geth as a library to promote code reuse and enhance maintainability.
• Exposing a compatible Web3 JSON-RPC layer for interacting with existing Ethereum clients and tooling, like Metamask, Remix, Truffle, etc.

Evmos enables compatibility between the Ethereum and Cosmos ecosystems. Each feature is tested and internally audited by the team and then brought to the users.

Evmos is based on Tendermint Core, which depends on a set of validators responsible for committing blocks in the blockchain. The validators participate in the consensus protocol by broadcasting votes that contain cryptographic signatures that are signed by every validator's private key.

Validator candidates are able to bond their own staking tokens and have the tokens "delegated," or staked, to them by token holders. The Evmos is the platform's native token. Evmos plans to launch with 150 validators. The validators are determined by those who have the most stake delegated to them, and the top 150 validator candidates with the most stake become Evmos validators.

Validators and their delegators will get Evmos as block provisions and tokens as transaction fees via the implementation of the Tendermint consensus protocol. Transaction fees will be paid in EVMOS, but later any token in the Cosmos ecosystem will be valid as fee tender when whitelisted by governance. Validators can set their commission on the fees their delegators get as an extra incentive.

For validators that double sign, are habitually offline, or do not partake in governance, their staked Evmos, as well as the Evmos of users that delegated to them, can be slashed. The penalty is dependent on the gravity of the violation.

Delegators include EVMOS holders who cannot, or have no desire to operate validator operations by themselves. Users are able to delegate EVMOS to a validator and get a part of its revenue in exchange. Since they share revenue with validators, delegators share responsibility as well. If a validator misbehaves, each of its delegators will be partially slashed according to their stake.

Delegators are required to perform due diligence on validators before delegating, including diversifying by spreading their stake over different validators. Delegators are responsible for choosing validators and are mandated to remain vigilant and monitor the actions of their validators, in order to switch should they fail to behave responsibly.

The EVMOS is the denomination utilized for staking, governance, and gas consumption on the EVM. It offers the utility of securing the PoS chain, it is the token used for governance proposals, distribution of fees to validators and users, and also used as gas for operating smart contracts on the EVM. Evmos is compatible with ERC20 tokens and other non-fungible token standards (EIP721, EIP1155) that are natively supported by the EVM. EVMOS is the base denomination to maintain parity with Ethereum. 1 evmos = 1018 aevmos. This matches the Ethereum denomination of: 1 ETH = 1018 wei.

Voting power is dependent upon stake weight at the conclusion of the five-day voting period and is proportional to the number of EVMOS participating in the vote. Just bonded EVMOS count toward the voting power for a governance proposal, and liquid EVMOS does not count toward a vote or quorum.

Inactive validators are able to cast a vote, but their voting power, as well as the backing of their delegators, will not count toward the vote if they are not in the active set whenever the voting period ends. The voting period is a fixed 5-day period. During this period, participants can pick a vote of either Yes, No, Abstain, or NoWithVeto. Voters are able to change their vote before the voting period ends.

The criteria for submitting and passing/failing proposal types is the same, and there are four of them:

• A minimum deposit of 192 EVMOS is needed for the proposal to enter the voting period, anyone can contribute to the deposit, and it must be reached within three days.
• A minimum of 33.4% of the network's voting power is needed to make the proposal valid.
• A majority (more than 50%) of the participating voting power is required to back the Yes vote during the five-day voting period.
• Less than 33.4% of participating voting power votes NoWithVeto.