HyperEVM Mainnet Is Live: A New Era for Hyperliquid Finance

• HyperEVM uses Hyperliquid’s consensus, boosting efficiency and security across the network.
• HyperBFT ensures secure EVM transactions, removing a need for additional validation layers.
• Hyperliquid’s bug bounty program rewards developers for enhancing HyperEVM’s security.

HyperEVM was developed by the Hyper Foundation, which is behind the creation of the Hyperliquid ecosystem, as part of its effort to enhance blockchain technology. Unlike most EVMs, HyperEVM is not a standalone chain but is integrated with Hyperliquid’s consensus mechanism. This ensures that HyperEVM is compatible with layer 1 blockchains and can offer efficiency and security to the various nodes within the system.

Hyperliquid’s HyperBFT consensus mechanism maintains EVM transaction security. HyperEVM’s robust consensus mechanism allows it to process transactions without requiring multiple validation layers. This leads to improved efficiency and security of the dApps and other occurrences within the network.

Bug Bounty Program for Security

In this phase, Hyperliquid will engage the developers to get feedback about tool requirements and enhance the system’s performance. Future updates to HyperEVM will enhance the functionality of ERC-20 token transfers and precompiled contracts, benefiting developers.

Hyperliquid has also unveiled a bug bounty program that aims to point out the existing defects in the HyperEVM code. This program rewards participants for identifying critical vulnerabilities, promoting best practices, and strengthening the platform’s security. Through this approach, Hyperliquid seeks to engage the community to help maintain its vast network free from major threats.

Related: Hyperliquid Reaches $22B, Hitting A Daily Volume Milestone

Hyperliquid’s Market Growth

The Hyperliquid model will use the native token HYPE created as the final payment for operations or the platform’s gas token. A new system contract, WHYPE, has been introduced to support DeFi applications and facilitate spot trading between layer-1 and HyperEVM. It strengthens the platform and offers even more choices for users within its system.

The HyperEVM has come at the right time following Hyperliquid’s rapid growth in the market. Its native token, HYPE, has risen by 639% since its launch in November 2024, making the platform highly competitive with many other cryptocurrencies. 

Hyperliquid stands out due to features like the Assistance Fund, which provides support during security breaches or liquidity crises. This fund rises with the growth of platform fees, which secures users for a long time of utilization. 

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