"Entropy Increase Project": Multi-chain ecological layout of IOST's innovative EVM
introduction:
According to the huge liquidity of Ethereum, developers from all over the world, and applications from all directions, users are sweeping the universe.
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In 2022, the application of blockchain will attract the attention of the mainstream society more rapidly than ever before in the world, and the funds, talents and users pouring into the encrypted world will usher in explosive growth.
The growth of market demand further highlights the shortcomings of blockchain networks such as Ethereum in terms of performance, and also lays the foundation for the multi-chain development pattern of the blockchain world in the future. At the same time, the positioning of Ethereum has been upgraded from "world computer" to "global financial settlement layer", and sharding has been postponed to develop a new expansion route of Layer 2, which further enhances the important position of the multi-chain model in the future.
On March 31, IOST announced the official launch of the "Entropy Increase Project", which will build an Ethereum 2.0 development and use experience based on IOST's high-performance bottom layer and consensus algorithm POB, compatible with Solidity, EVM and ETH ecological tools, and has a Layer 2-like layer speed and scalability. Here, IOST officially launches a multi-chain ecological layout, which provides more possibilities for developers of IOST and other high-performance public chains on the premise of optimizing user experience.
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1. The platform war starts with developers
The number of developers on a public chain platform directly determines the level of its ecological prosperity.
To establish a public chain ecosystem is to establish a world on the chain, and infrastructure is a necessary condition for this world. Since the launch of the mainnet, the IOST development team has been adhering to the attitude of continuous technological innovation, and has carried out frequent version updates and optimizations on the mainnet. From Olympus v1.0.0 to Olympus v3.8.0, our mainnet is more secure and easy to use , fast, decentralized and has high scalability. Through the original PoB consensus mechanism, IOST has achieved the goal of horizontal expansion and high throughput. The number of transactions on the entire network exceeds 600 million, and the block height is nearly 200 million.IOST uses the same V8 Javascript engine as Google Chrome as the core to execute smart contracts, and on this basis, it has made a lot of improvements suitable for the blockchain. While ensuring performance, it also ensures the correctness and security of the main network. In addition, developers can use Javascript, the most widely popular language in the world, to write smart contracts on the IOST chain,This allows IOST to have a huge developer community
. They continue to contribute to the IOST mainnet ecosystem in their respective fields, bringing increasingly popular decentralized products, practical and easy-to-operate developer tools...
In 2022, as the Ethereum EVM is gradually becoming a global "standard", compatible EVM is becoming a standard configuration for high-performance public chains. In the discussion of most developer communities, the technical improvement and application development of EVM even determine the direction of the outlet.
EVM (Ethereum Virtual Machine) is the abbreviation of "Ethereum Virtual Machine". As a programmable blockchain, Ethereum allows developers to create their own operations, the core of which is that EVM can execute code of arbitrary algorithmic complexity. Developers can use the programming language (Solidity) to create applications that run on the EVM.
Nowadays, DeFi, NFT, GameFi, Web 3, and Metaverse are still popular, and many developers have also suspended the long-standing debate on the details of the underlying technology of the public chain, and turned their attention to improving user experience and improving the liquidity of Ethereum applications etc. direction. Whether the public chain is compatible with EVM has become an important basis for developers to choose deployment.The IOST network offers scalability that other platforms may not currently offer,
Compatible with EVM to quickly "copy" high-quality projects on Ethereum and other platforms, and relying on superior resources and support policies, IOST can quickly attract a large number of developers and enter the period of ecological explosion.
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2. User experience determines the future of the public chain
Let users participate in high-quality projects with promising benefits at a lower cost.
IOST always believes that technology is the foundation of the public chain, developers are the core of the ecosystem, and user experience is the key to our future.IOST has a staking economic system that ranks first in the comprehensive index, and the number of pledged votes on the entire network exceeds 5.6 billion. We have won the support of more than one million community members around the world, and our market influence has radiated to nearly 30 countries around the world. All of this is inseparable from the attention and trust of our users.
One of the reasons why IOST launched the "Entropy Increase Plan" is to allow users to participate in high-quality projects with promising benefits at a lower cost.In the current market, users are not only looking for a higher-quality product experience, but also have extremely high expectations for asset management and income. For users, the advantages of EVM-compatible chains include participation in multi-chain ecology, lower gas fees, fast settlement speed, the same address format as Ethereum, and easier operation procedures. Therefore, IOST believes that to make an innovative EVM compatible solution based on user experience,。
It’s a great start—starting with new technologies, eliminating multi-chain barriers for everyone, and finding a balance between establishing strategic partnerships, high-quality projects, users, rewards, and ease of use is precisely the embodiment of IOST’s responsibility to usersIOST will use the underlying technology and superior resources that have been iteratively optimized for many years, and on the basis of being compatible with EVM, to bring users more applications with rich content ecology, rich participation incentives, excellent playability and social interaction.
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3. IOST innovates EVM and opens a multi-chain ecological layout
Innovative compatibility with EVM + native support for Wasm, building an Ethereum 2.0 development and usage experience.IOST Announces the Official Launch of the "Entropy Increase Project"——Create an Ethereum and other compatibility layers that support EVM public chains (such as Avalanche, Polygon, NEAR, etc.) on the IOST network,
Based on IOST's high-performance bottom layer and consensus algorithm POB, build Ethereum 2.0 development and use experience, compatible with Solidity, EVM and ETH ecological tools, while having the speed and scalability of Layer 2.
The technical solution of the "Entropy Increase Project" is an enhanced version of "Ethereum 2.0", the main points of improvement are performance and handling fees. IOST has invested a lot of resources to independently develop the innovative consensus algorithm POB, which balances the limit of the impossible triangle of the blockchain to the greatest extent, and its high performance can effectively alleviate the problem of Ethereum transaction congestion. And only need to pledge a small amount of tokens, you can initiate transfer transactions on the IOST chain for free, play with DApps, and greatly solve the pain point of Ethereum Gas fees fluctuating and expensive.
Compared with the EVM compatible solutions of other public chains, the IOST compatible EVM technology solution can be fully compatible with EVM. After the plan is implemented, it will provide the best EVM development and use experience for EVM multi-chain ecological developers and users.
IOST "Entropy Increase Project" will be completed in three stages:
The first stage: Build a cross-chain bridge to realize asset interoperability between IOST and Ethereum and other high-performance public chains
The third stage: Establish an EVM exclusive ecological incentive fund and incubate traffic star projects
The "Entropy Increase Plan" means that IOST can seamlessly migrate almost all high-quality project applications on other EVM-compatible high-performance public chains under the premise of higher performance and lower cost of use, so as to provide lower-cost applications Create conditions for innovation and cross-chain migration. Users of other public chains can also use IOST to operate familiar applications and benefit from the performance advantages of IOST.
The "Entropy Increase Plan" means that IOST can seamlessly migrate almost all high-quality project applications on other EVM-compatible high-performance public chains under the premise of higher performance and lower cost of use, so as to provide lower-cost applications Create conditions for innovation and cross-chain migration. Users of other public chains can also use IOST to operate familiar applications and benefit from the performance advantages of IOST.
In addition, although the current EVM is considered a relatively complete mechanism in the blockchain field, its limitations and timeliness cannot meet more demands with the explosive growth of the blockchain, and the Wasm contract, which is an upgraded version of the EVM contract, has begun to cause extensive attention.
Wasm VM is another virtual machine commonly used in blockchain. It was originally designed for browsers. With the expansion of usage scenarios, Wasm has become one of the more common formats and can run in all popular browsers. , widely supported by Google, Microsoft, Apple and other top companies.
ETH founder Vitalik Buterin also said that Ethereum 2.0 will be upgraded to Wasm contracts (eWASM) to meet more development needs.first level title
Conclusion:
Conclusion:
Based on innovative compatibility with EVM + native support for Wasm, IOST officially launched a multi-chain ecological layout. Our goal is to build a multi-chain future, bridging the gap between blockchain technology, developers, and users. IOST "Entropy Increase Project" not only allows developers to reuse and save engineering investment in writing contracts and codes, but also helps the Ethereum ecosystem break through the bottlenecks and constraints in computing and storage that it is facing, and then solve user access The problem of capital threshold, improving transaction congestion and slow user experience. More performance-constrained applications can also be implemented on the IOST network.
At the user level, users of public chains such as Ethereum that support EVM can operate familiar applications on the IOST network while enjoying the benefits of IOST's performance advantages. After the ecology of IOST is further prosperous, IOST users will have more application choices on the chain.
