Layer 1 blockchain and smart contract ecosystem Nibiru Chain has announced the debut of its native Ethereum Virtual Machine (EVM) implementation, which aims to advance the design space for developers to build high-performance consumer applications.
“Nibiru opens the door for Ethereum-based tokens and applications to benefit from fast transaction processing and further streamlines user experience without the compromises of other scaling solutions,” Nibiru co-founder Unique Divine told Decrypt.
Developed by Google, JP Morgan, and Tendermint ex-contributors, the Nibiru EVM “overcomes Ethereum’s limitations,” claiming to deliver speeds of over 10,000 TPS solely on single threaded execution. The Nibiru team aims to further its ability to scale with parallel optimistic execution, which is projected to go live as early as Q3 2024.
“Nibiru’s parallel optimistic execution leverages additional cores available to full nodes to process transactions simultaneously, overcoming vital scalability concerns experienced by many blockchain networks,” a spokesperson for the project told Decrypt.
Compatible with Ethereum‘s Solidity programming language, crypto wallet MetaMask and libraries like Ethers.js, Nibiru’s newly added parallel EVM is designed to enable Solidity developers to easily migrate their applications without modifications. The ability for developers to compose both EVM and Wasm smart contracts will overcome a “significant barrier to entry for builders,” said Harvey Liu, Research Engineer at Nibiru.
EVM-based applications account for over 90% of on-chain value locked across all smart contract ecosystems. Nibiru’s custom EVM execution “gives developers the ability to build and deploy applications in a familiar environment with a lower barrier to entry,” said a project spokesperson, extending Nibiru’s core Wasm (WebAssembly) functionality with the extensive user base and developer community of Ethereum.
By optimizing across multiple layers including “dApp development, scalable blockchain data indexing, consensus optimizations and more,” Nibiru hopes to attract EVM developers from sectors including decentralized finance (DeFi), gaming, NFTs, and real-world assets (RWAs).
Slated for mainnet launch in the second half of 2024, Nibiru EVM will come to life in Nibiru v2, publicly released for alpha testing on May 28.
For more information, head to Nibiru Chain’s official site, Twitter, GitHub and Community Hub.
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Source: https://decrypt.co/232851/nibiru-to-overcome-ethereums-limitations-with-high-speed-parallel-evm
