EOS Labs and the EOS Network Foundation (ENF) – the stewards of the EOS network – are proud to announce a strategic partnership with EOS Stablecoin Chain (ESCC), a groundbreaking blockchain based on Ethereum, deployed as a smart contract on the EOS network, using a custom implementation of the EOS EVM architecture. The collaboration aims to provide an optimized platform for high-speed, compatible stablecoin transactions, thereby advancing the development of the EOS ecosystem. Together, they will provide professional and efficient solutions for processing stablecoins, which is expected to bring significant improvements to the EOS ecosystem.

“This collaboration with EOS Labs and ENF is a major milestone for ESCC,” said Hiroaki Yamasaki, CEO of ESCC. “As the first blockchain architecture to use stablecoins as gas fees, we will provide users with a unique experience that is different from other blockchain platforms. This innovation will change the way users interact in the blockchain space, blending stability, efficiency, and user-centric design.”

Enhanced Transaction Efficiency for Stablecoins

The integration of ESCC into the EOS ecosystem will revolutionize the landscape of stablecoin trading. Leveraging the high-performance capabilities of EOS EVM technology, this collaboration is expected to bring unprecedented transaction efficiency. Key performance indicators highlight this progress:

  • Lightning speed: ESCC achieves fast processing with a 1-second block interval, greatly shortening transaction time.

  • Low Gas Fees: Transaction fees are very low, around $0.005 per transaction, making stablecoin transactions more convenient and cost-effective.

  • High Throughput: The system can handle over 950 exchanges per second, providing exceptional high-volume transaction processing capabilities compared to other technologies.

“ESCC is the best example of how EOS EVM is extending its reach into enterprise-level ecosystem applications, highlighting the advantages of its technical design,” said Wen Huaqiang, founder and CEO of EOS Labs. “This advancement is pivotal in facilitating the roll-out and execution of more enterprise-oriented applications within the EOS ecosystem.”

Financial transaction innovation

The collaboration between EOS Labs, EOS Network Foundation, and ESCC will leverage the cutting-edge EOS EVM architecture to revolutionize financial transactions on the blockchain. ESCC's new approach to paying gas fees with stablecoins is a key innovation. This technological advancement is made possible by the seamless integration of the EOS EVM, which allows the system to process transactions in a way that is familiar to Ethereum developers and optimizes the user experience. By using stablecoins to pay transaction fees, ESCC greatly improves the predictability of costs and reduces the traditional volatility associated with cryptocurrency-based gas fees.

“This innovation reshapes the way we approach blockchain efficiency and opens up new avenues for development,” said Yves La Rose, Founder and CEO of the EOS Network Foundation. “This move reflects more than just the capabilities of our network; it highlights our dedication to pioneering new solutions and our agility in responding to the dynamic landscape of the blockchain space.”

Develop customizable blockchain solutions

ESCC's collaboration with the EOS network takes advantage of its flexible architecture, which can adapt to both open and regulated stablecoin environments, including complex KYC processes. This coincides with the EOS network's goal of providing versatile, compliant blockchain solutions. ESCC's adaptable structure is well suited to a variety of stablecoin applications, from DeFi to regulated financial systems, demonstrating its ability to meet different industry needs. This collaboration marks an important step forward in our efforts to provide scalable and compliant blockchain solutions for different stablecoin use cases.

Seamless compatibility with EOS and Ethereum ecosystems

The integration of EOS EVM technology within the ESCC framework is a key element of this partnership. It not only enriches the EOS ecosystem, but also effectively bridges the gap with the Ethereum ecosystem. This integration helps to improve interoperability between the two platforms, enabling developers to use Ethereum's Solidity programming language and existing development tools in the EOS environment. The compatibility feature of EOS EVM is particularly beneficial to EVM developers, as it allows developers to seamlessly migrate and deploy existing EVM-based applications on ESCC. This opens up new avenues for developer participation and innovation, leveraging the strengths of EOS and Ethereum technologies to create a more inclusive and versatile blockchain ecosystem.

About the EOS Network

About EOS Network The EOS network is a third-generation blockchain operating system, powered by a low-latency, high-performance and scalable WebAssembly engine that deterministically executes near-invisible transactions; built for the best Web3 user and developer experience. The network installs an enterprise-grade Ethereum virtual machine in the EOS smart contract, which is functionally equivalent to Ethereum, with unparalleled speed, performance and compatibility, connecting the EOS network to the Ethereum ecosystem.

For more information, visit eosnetwork.com.

About ESCC

EOS Stablecoin Chain (ESCC) stands out in the blockchain space as a professional solution for stablecoin transactions. Combining the high performance of the EOS native system and the compatibility advantages of the EOS EVM architecture, ESCC focuses on efficiently processing stablecoin transactions. Its method of using stablecoins as gas fees is a pioneering step in alleviating the instability that often occurs in digital currency transactions.

ESCC official website: https://www.escc.io

Media Contacts:

Zack Gall

Chief Communications Officer

EOS Network Foundation

zack.gall@eosnetwork.com