With the ability to develop decentralized applications, blockchain has found applications in multiple industries. But the technology has several disadvantages as it is still in the early stages of development.
With the ability to develop decentralized applications, blockchain has found applications in multiple industries. But the technology has several disadvantages as it is still in the early stages of development.
Most of the blockchain networks that existed in the initial years of the crypto space are isolated from each other. As a result, users find it difficult to move assets from one network to another. The lack of interoperability also limits the scalability and utility of decentralized applications (dApps) developers have to accept the pros and cons of a blockchain network when they build dApps.
Ethereum blockchain is one of the most popular smart-contract platforms that features Ethereum Virtual Machine, a robust virtual machine environment used to build dApps. It is the leading blockchain network, powering around 3,000 decentralized applications. However, the Ethereum blockchain also has network congestion and high gas fees for dApp builders.
So what is EVM, and what are the other blockchain networks that support dApps? In this article, we review these networks and discuss how interoperability ensures the scalability of decentralized applications.
Ethereum virtual machine (EVM) is like an operating system for developers to build and test their dApp. It is a runtime environment that helps developers test their decentralized applications before deploying them to the public network. The EVM is powered by the participants, or nodes, who are connected to the Ethereum blockchain. The EVM helps developers build dApps without requiring any powerful hardware equipment. Developers first need to write their dApps in the Solidity programming language and then send it to the EVM to execute via smart contracts.
EVM is an essential virtual environment for developers to build decentralized applications by utilizing the full power of smart contracts. At the same time, it is a robust virtual environment without any security vulnerabilities. EVM is isolated from the rest of the Ethereum network and ensures that the main network is not congested with these applications. Since it is a decentralized network, anyone from any part of the world can access the EVM and develop dApps. However, there is no way for developers to utilize EVM and deploy the dApps on other blockchain networks.
Apart from Ethereum, multiple blockchain networks support the development of dApps today. Polkadot, for example, is the next-generation blockchain that primarily focuses on interoperability while having all the features introduced by Ethereum. Polkadot attempts to unite various blockchain networks into one compatible environment.
Polkadot consists of two chain types: the main chain, also known as relay chain, and parachains. The main chain provides transaction consensus and security, which is no different from other blockchain networks, while the parachains are user-built chains that utilize the power of the main chain. They communicate all information to the main chain and ensure that Polkadot has a consistent transaction history.
The Polkadot network and their main chain/parachain system provides all kinds of use cases without sacrificing scalability. In addition to scalability, Polkadot also achieves interoperability by allowing developers to build bridges between blockchains. Similar to Ethereum, the Polkadot network also offers its own kind of virtual environment, called Substrate, to build dApps.
The Substrate works similarly to EVM and allows developers to build decentralized applications in an isolated virtual environment. It is an open-source development platform where developers can build their own parachains by utilizing its framework. The parachains developed using Substrate are connected to the main chain of Polkadot and are also interoperable with other blockchain networks. This Substrate also provides an isolated virtual environment (WASM) for developing and testing dApps.
Several platforms use Substrate for developing scalable dApps. One such project is the CLV Chain. It is a parachain working to offer interoperability with the EVM, among other blockchains. CLV Chain is a Substrate-based layer-1 chain, which is compatible with EVM. This allows developers to easily migrate their projects and smart contracts from Ethereum to the CLV Chain network. Despite writing the dApps in Solidity programming in EVM, developers can still bridge them with the CLV network.
Developers can deploy dApps to Ethereum and other parachains with the help of Polkadot’s compatibility with Ethereum and interoperable nature. Polkadot streamlines the development process with its versatile features. Developers can directly integrate with popular applications like MetaMask and Remix. At the same time, CLV users can utilize more useful dApps. This is a win-win situation for developers and users.
Polkadot blockchain is bringing the concept of interoperability into reality with its two-chain system. Besides allowing developers to build their own parachains through Substrate, it also enables them to migrate projects from Ethereum to other chains. Through this mechanism, Polkadot is helping developers create more scalable decentralized applications.
