The dramatic shift away from EVM has never been closer.
Written by: TheRollup
Compiled by: TechFlow TechFlow
We are at a critical juncture for modular blockchains – moving away from the Ethereum Virtual Machine (EVM). This shift is expected to bring thousands of previously hesitant developers into the crypto space!
While EVM once dominated, the time has come to embrace new technologies shaping the future of blockchain. Next, we'll explore the limitations of EVMs, the potential of other virtual machines, and the pioneers leading this change.
cheers!
We are entering a critical moment in modular blockchain, and the seismic shift away from EVM has never been closer.
Teams engaging with the non-crypto developer community have been patiently waiting for this moment!
Imagine if we could recruit thousands of previously unwilling developers from diverse backgrounds to contribute to building the cryptocurrency-centric future we all want… yet that reality is happening right here, right now, We will recruit thousands of capable developers over the next few years.
But this doesn't happen with EVM...
In today's article, I'll take you through the state of EVM and its limitations, why other virtual machines based on years of technology stacks are superior and a few key pioneers now pioneering the field.
As an Ethereum evangelist, I must say that it is difficult to have a negative opinion of the Ethereum Virtual Machine. The Ethereum Virtual Machine has taken over and become the backbone of countless decentralized applications, which makes sense: you can think of it as an execution layer. The EVM is responsible for the execution of smart contracts and manages all transactions.
You can create any type of smart contract and program it using the EVM, which creates the narrative of "programmable money."
While this technology has become a revolution in encryption, EVM does have limitations:
First, it's relatively new. Compared to traditional code bases, there aren't many "code bases" (compilers, libraries, etc.).
Secondly, from a developer's perspective, Solidity is difficult to learn and has many limitations compared to other programming languages (such as Rust, Move, JavaScript).
Additionally, EVMs have economic limitations compared to other virtual machines at the execution layer. There are currently many cheaper and more powerful options available.
Looking ahead, we clearly see the narrative changing.
Now is the time to answer the following questions:
Is it time to move beyond EVM as a settlement layer?
I believe that 2024 will be the year of a new type of executive. High performance and non-EVM execution environments will become the standard as DeFi protocols look to minimize other fees (e.g. gas fees) and games/applications seek high throughput environments.
This new narrative is not about abandoning Ethereum, but about embracing diversity and exploring new possibilities in the modular space. We need to realize that the world of modular blockchain design is vast and diverse, and Ethereum is just one (important) piece of the puzzle.
Let’s take a closer look at how each team performed in this vertical:
Polygon Miden and Risc Zero are pioneers in a new approach to virtual machine design, focused on efficiency and scalability in zkspace.
Cartesi is building a Linux-based virtual machine called Cartesi Machine. It emulates a traditional computer chip (64-bit RISC-V ISA) in a reproducible and deterministic way. This enables it to boot a complete operating system (such as unmodified Ubuntu), allowing developers to run traditional computer programs, languages, and libraries in a verifiable manner.
Developers who understand Linux can tap into the Cartesi application-specific rollup ecosystem and build any dApp. Recently, a developer who knew nothing about Solidity/EVM used Cartesi's VM to build a dApp ChainGPT based on LLM.
Aztec Network is pushing the envelope when it comes to privacy, developing a virtual machine that enables private transactions on public blockchains.
Fluent xyz is reimagining how virtual machines are used for data processing, creating a platform that combines the power of blockchain with the flexibility of virtual machines.
A well-known company that is breaking the virtual machine narrative is: Movement Labs.
Move VM is designed with a focus on performance and security. It addresses common vulnerabilities such as re-entrancy, establishing a secure environment for developers. Movement Labs decouples the virtual machine from the blockchain stack, making it portable and modular. Move parallel processing and safeguards will be applied to EVM for the first time!
All of this is powered by the Movement SDK. dApps in the SDK can be freely and flexibly deployed to any Move environment on any network integrated with the SDK. Also included in the SDK is the Fractal Transpiler, which enables Solidity dApps to upgrade their smart contracts to Move without having to write Move code.
In short, Movement Labs is leveraging novel virtual machines and smart contract development languages to lower the barrier to development and enable its dApps to be brought to market in a Web3 native manner through the Movement SDK.
Another virtual machine based on parallel processing is: Fuel Network.
FuelVM is a parallel processing virtual machine for scaling Ethereum and the module stack. It is a very advanced smart contract execution engine designed to treat every calculation as important.
As shown below, FuelVM (like other virtual machines) is used in the execution layer for higher performance.
FuelVM brings several unique advantages to the virtual machine space, including not only parallel transaction execution but also an asset-centric design with native asset, judgment and state-minimized design.
Lightweight clients, parallel execution and efficient fraud proofs are the main highlights. Developers choose FuelVM because it provides a superior developer experience and transcends some of the limitations of EVM.
As we enter 2024, it's clear that the virtual machine world is going to undergo a major transformation. DeFi pioneer Stani Kuchelov recently highlighted this change on Twitter… If there’s one thing I’ve learned in crypto, it’s to follow the super-brains who caught on to trends early.
This new evolution will be about building modular designs, inspiring new innovations, and providing variety. We should realize that modular design is better than monolithic design. We should put aside any maximalism and instead pursue a better user experience.
Let’s embark on this exciting journey together with our clear call to action: watch the modular world evolve and grow!
Since we no longer need to use the EVM, our developer headcount will definitely increase significantly!
