Key Takeaways:
- Earlier today, the update of the Evmos Network failed.
- Users of the network are concerned that they may lose all their evmos.
- The team has said they do not have all the answers for the users yet.
One of the most anticipated networks on Cosmos SDK, ‘Evmos’, has updated on March 7 that the up-gradation of the network has officially failed. The network made this announcement both on their official Twitter account earlier today.
Evmos – The Ethereum Virtual Machine on Cosmos was created for connecting the Ethereum to the Cosmos network. Its success would have aided developers to build apps meant for Ethereum networks on other environments with languages they are familiar with at a faster pace.
The founder of ‘ThePsychoBot’, who goes by the name ‘Altcoin Psycho’ on Twitter, explained the function of Evmos in a Twitter thread. In the 4th thread, he mentioned that the Evmos network isn’t just limited to Cosmos EVM, “it also expands the functionality of the EVM. It combines developer familiarity of the EVM with the convenient UX of native interoperability. This will enable new use cases that are not possible on any other chain(!).”
This morning, Evmos, on their official Telegram group, announced that “The network is going through an upgrade right now (one of several planned throughout the week). Stay tuned for updates, and keep an eye out!
Your transactions won’t go through until the network is live again, please hold off on them for now and check back later today!”
The launch of this network was highly hyped, and people intended to buy tokens immediately after the launch. However, unfortunately, that is not possible anymore. Therefore, all kind of transactions on the network has been halted.
After this announcement, users are concerned about losing all their evmos and are looking for an answer. The Evmos team has replied that they are yet to have all the answers themselves. However, they confirmed network is paused at the moment, and therefore there is no risk of any user missing out on anything.
