The encryption market is booming again, does parallel SVM challenge parallel EVM?

In March of this year, the news that "Solana EVM solution Eclipse received US$30 million in financing" caused dissatisfaction from Sei founder Jay, questioning its excessive hype and difficulty in implementing ecological development. Sei founder's remarks triggered further discussions among Eclipse founder Neel Somani, Fantom founder AC, etc., which made the "parallel EVM" narrative the focus of the community. With the recent launch of the hot project ZEUS, parallel narratives have once again undergone new changes. So, what is parallel EVM? What are the new changes in parallel narratives? How will blockchain parallel storytelling develop in the future?

What is parallel EVM?

Although Parallel EVM has seen some popularity in the community before, it is difficult to say that it has truly become a technology that is well-known and clear to the public. So, what exactly is parallel EVM? What is the significance of the emergence of parallel EVM?

"Parallel EVM" can be regarded as the technical fusion of "parallel EVM compatible" and the optimization of the existing EVM network execution layer. It is essentially a special optimization of the performance of each component of EVM to improve The number of transactions (TPS) or the amount of computing tasks processed by the network per unit time solves the current EVM inefficiency problem caused by the sequential execution of transactions. Parallel EVM hopes to partition or group all pending transactions and then rely on the scheduling algorithm To effectively manage the synchronization processing of each zone or group of transactions, the ultimate goal is to allow multiple independent transactions to be executed in parallel at the same time, thereby improving the transaction execution efficiency of the overall Layer1 network. , which is to process unrelated transactions at the same time, such as partitioning or grouping transactions on the chain, such as DEX, NFT, GameFi and other transactions, so that they can execute transactions independently in parallel, which also means that different transactions can be processed in different processing units at the same time. Instead of queuing in chronological order, Solana's SVM and Aptos' STM, which are famous for their high performance, all use similar parallel execution processing logic (Ethereum parallel EVM). The necessity of virtual machine (VM) stems from its ability to significantly improve the performance and efficiency of the blockchain network. Traditional EVM processes transactions in sequence, which not only consumes a lot of energy, but also imposes a heavy workload on network validators. Often resulting in high transaction costs and inefficiencies, parallel EVM revolutionizes the consensus process by allowing multiple operations to be executed simultaneously, greatly improving the throughput of the network. , thus enhancing the performance and scalability of the entire blockchain.

##What are the technical innovations of parallel SVM leader ZEUS?

In essence, Parallel EVM mainly uses parallel technology to significantly improve the performance and efficiency of blockchain networks. From this perspective, ZEUS's technology is actually very similar to this. However, ZEUS hopes to connect Solana and Bitcoin through an open communication layer. In a sense, ZEUS is different from parallel EVM, but in essence it is a parallel narrative. In essence, it uses SVM to improve the performance and efficiency of the Bitcoin network. So, how does ZEUS achieve parallel communication between Bitcoin and SOLANA through technology. ?

ZeusNetwork consists of Zeus nodes and Solana Virtual Machines (SVMs). Zeus nodes include peer-to-peer communication, signing, broadcasting, validator registration, and dual-function registry services that can operate on and off the chain. . The Zeus communication mechanism enables nodes to exchange information, synchronize status, and execute transactions with each other without going through a centralized middleman, which contributes to the decentralization and efficient operation of the network. When individual users want to become Zeus validators, they need to run a. node and retains a private key for signing functions. In ZeusNetwork, the network verification process adopts a decentralized and permissionless group model, which means that anyone can become a validator without being restricted by a specific institution or organization. However, becoming a validator node requires staking SOL or LSD-SOL. Zeus encourages users to use LSD-SOL and participate in PoS staking to gain income. SVM plays a key role in the functionality and performance of ZeusNetwork, providing point-to-point communication services and state-related program elements.

Zeus consensus is the core of ZeusNetwork. In the Zeus consensus, Bitcoin and Solana transactions are first serialized and then systematically stored in the management program, which provides validators with a centralized starting point to access and verify transactions. Verifiers in ZeusConsensus focus on verification work and do not participate in on-chain transactions. To further improve efficiency, ZeusConsensus implements a threshold signature mechanism. In Bitcoin this involves Taproot and Schnorr signatures, while in Solana it is the Ed25519 signature algorithm. At the same time, the signature is performed off-chain and the signature is broadcast to Solana. Off-chain signature aggregation allows for more efficient broadcasting of transactions without sacrificing security.

What impact will parallel SVM have on the Ethereum ecosystem?

Parallel EVM has been considered by many to be an important technology that can save Ethereum, and the market also has great longing for parallel narratives. said 0xTaker, co-founder of Aori. "Parallelization provides a way to experiment through the local fee market to minimize state contention." JD, the former founder of Polygon, said that in 2024, every L2 will be labeled as "Parallel EVM" and re-branded .

ReforgeResearch even published an heroic article saying: Only parallel EVM can save Ethereum. The emergence of parallel EVM is an important turning point in the evolution of blockchain technology. By enabling simultaneous execution of transactions and optimizing state access, parallel EVM opens a new era of possibilities for decentralized applications. From the resurgence of programmable CLOBs to the emergence of more complex and performant applications, parallel EVM lays the foundation for a unified and user-friendly blockchain ecosystem. The emergence of parallel EVM has the potential to reshape the landscape of decentralized applications and user experience. By solving the scalability and performance limitations that have long hindered the growth of key verticals like DeFi, Parallel EVM opens up the possibility of a future where complex, high-throughput applications can develop without sacrificing the “triple dilemma.”

MTCapital released a research report stating that the development of parallel EVM is regarded as a key step to solve the basic limitations of blockchain scalability. These innovations are expected to prepare blockchain networks for the future, allowing them to keep up with growing demands and become the cornerstone of the next generation of Web3 infrastructure. While parallel EVMs offer tremendous potential, their successful implementation requires overcoming complex technical challenges and ensuring broad ecosystem adoption.

However, with the emergence of ZEUS, the parallel narrative is actually changing. From the perspective of capital inflow, crypto market funds continue to flow into the Bitcoin ecosystem. After the second layer of Bitcoin became popular after the second layer of Ethereum, it formed a relay and began to receive market attention. According to defillama data, Merlin’s capital inflow increased by 6254% in the past month. In addition, other well-known Bitcoin second-layer projects have also received a lot of market attention. ZEUS hopes to connect Solana and Bitcoin through an open communication layer, which is essentially extending the parallel EVM narrative to the Bitcoin ecosystem.

Summary

Parallel narrative was initially focused on solving the transaction performance and efficiency issues of Ethereum. However, with the development of the Bitcoin ecosystem, parallel narrative also began to expand to the Bitcoin ecosystem. Angel investors behind ZeusNetwork include: SOLANA co-founder Anatoly Yakovebko, Stacks co-founder Muneeb Ali, etc. In the future, ZEUS may be expected to open a parallel new narrative of the Bitcoin ecosystem. However, in comparison, Ethereum’s parallel EVM narrative may still be expected to be the first to break through.

The above is the detailed content of The encryption market is booming again, does parallel SVM challenge parallel EVM?. For more information, please follow other related articles on the PHP Chinese website!