Hedera Launch EVM-Compatible Smart Contracts 2.0

Hedera today announced the launch of its Smart Contracts 2.0 service. Hedera’s Smart Contract Service will integrate with Hedera Token Service (HTS), along with introducing other significant updates to the network.

The deployment of Smart Contracts 2.0 is a huge step in the right direction for developers… Integrating Smart Contracts 2.0 onto the Hedera Token Service makes life easier and more flexible for developers and their end-users seeking to tokenize and transfer assets on the network.

Gehrig Kunz, Vice President of Product Marketing, Hedera

Crucially, the launch of smart contracts 2.0 comes just weeks after Hedera announced that it is moving to an open-source model. To date, the Hashgraph consensus algorithm had been “open review” only, which meant that developers could only view the code, but not make changes to it. With the transition to open-source, developers can now make changes to the underlying code and contribute to the Hedera network.

Hedera’s Smart Contract Service is Ethereum Virtual Machine (EVM) compatible and uses Solidity (a programming language that is used by 30% of all Web3 developers).

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Hedera may be an attractive option for programmers looking for a faster, cheaper, and more sustainable DLT on which to develop applications. Some of its advantages over other blockchains and DLTs are for example:

• Hedera offers predicable gas fees – it can process up to 15 million gas per second.
• Hedera is also Asynchronous Byzantine Fault Tolerant (ABFT), which means that no single person or group can prevent the network from reaching consensus. This is the highest level of security that is currently possible on a distributed ledger.
• According to University College London, Hedera is also one of the most energy efficient proof-of-stake networks.

Hedera (HBAR)

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What do you think about Hedera’s new smart contract 2.0 service? Will Hedera be successful in attracting developers from other blockchains, like Ethereum and Solana?