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Astar Network CEO: Webassembly Smart contracts Are Going to ‘Pull A Lot of Talent from Web2 to Web3

Ethereum is almost universally credited for kickstarting the Web3 revolution after it brought to life the concept of smart contracts. Some in the Web3 community, such as Sota Watanabe from Astar Network, think the protocol can’t “build the innovative future blockchain alone.” Others, however, point out the language barrier that makes the Ethereum Virtual Machine, (EVM), less than ideal.

Webassembly Smart Contracts ‘Will Accelerate the Adoption of Web3’

These and other limitations of EVM led to Webassembly’s creation. This alternative is a virtual machine that developers, engineers, and academics can use to solve their frustrations with the EVM. According to Watanabe, for Web2 developers that want to migrate to Web3, WASM seems like a logical choice because it “supports a wide range of languages with native performance and high portability.”

To learn more about WASM, Bitcoin.com News reached Out to Sota Watanabe (CEO of Astar Network), a multichain smart contract platform.

In his written responses to questions sent, the Astar Network CEO offered his thoughts on Webassembly and the role it will play in accelerating the adoption of Web3. Watanabe explained the reasons Astar Network supports both the EVM (electronic mail message) and WASM.

Below are Watanabe’s answers to questions sent via Whatsapp.

Bitcoin.com News (BCN): In very simple terms, can you explain to our readers what the WASM is all about?

Sota Watanabe (SW): Webassembly, more commonly called WASM, is a portable compilation target for programming languages. WASM supports many languages, with high native performance and portability. Astar supports a WASM smart-contract environment just like the Ethereum Virtual Machine (EVM). The best thing about WASM is the fact that most Web2 languages can be integrated into Webassembly. This is different from Ethereum’s EVM, which requires a specialized programming language called Solidity.

We believe that the increasing use of WASM smart contract will significantly accelerate the adoption and growth of Web3. We believe that the growing use of WASM smart contracts will dramatically accelerate the adoption of Web3. This is a problem. Imagine if they could create Web3 dapps [decentralized applications], using the languages that they already know. Their dapps can be easily integrated with EVM. WASM smart contracts [going to] draw a lot talent from Web2 and Web3. It’s exciting because of that.

BCN: What are some of the challenges or limitations of the EVM and how does the WASM overcome these?

SW: Though Ethereum brought us the Web3 revolution with the introduction of smart contracts, it cannot build the innovative future of blockchain alone. It restricts the ability of developers to create and explore new interoperable dapps. EVM is specific to blockchain, and has less support than Solidity, a specialized programming languages.

Today, Web3 is prohibitive to many Web2 developers because Web2 languages can’t be integrated into Solidity, Ethereum’s programming language. Webassembly allows developers to quickly switch from a Web2 infrastructure to a Web3 one. This allows them to focus more on building core features for their dapps than learning advanced languages like Solidity.

WASM improves performance because it is closer to the machine language. It provides web browser apps with near-native performance and allows developers the freedom to create high-speed web applications in any language they choose. WASM is a great tool for the future internet, as it was designed for the web.

BCN: Already backed by four major browser engines (Chrome, Firefox, Edge, and Webkit), WASM is said to be safer, more efficient, faster, debuggable, and open. This is why it matters.

SW: You’re right. You’re right. All of the information you shared about WASM has helped to build trust among Web2 developer. They are more likely to adopt Web3 when they can create interoperable Web3 apps with WASM toolings.

Additionally, WASM development has been supported by major companies like Google, Microsoft, Mozilla and others. It can be used with popular programming language such as C/C++ and GO. This is common among Web2 developers.

BCN: Some reports have suggested that Web2 developers that are migrating to Web3 are attracted to WASM. This suggestion is correct? What do you think the cause(s) could be?

SW: The answer would be similar to Nos. 2. 2 and 3.

Over time, we have had to interact with thousands of Web2 developers. However, the lack of familiar tools was a barrier. Astar Network is hoping to support WASM and make it interoperable to EVM. It will also provide all the tools needed to build in Web3 to this new ecosystem.

BCN: Instead of encouraging or discouraging the use of either, your platform Astar Network is said to be helping developers build dapps with both EVM and WASM. Why do you support both virtual machines?

SW: Developers in the Web3 space come from diverse backgrounds — armed with different skill sets, capabilities and preferences. They shouldn’t all be forced to use a single smart-contract platform to realize their vision. They have the right to choose from a variety of smart contracts, and it is up to them to determine which one is best for their project.

Yes. We support both WASM and EVM smart contracts for developers to have flexibility. EVM is the most widely used smart contract environment and has the largest user base. WASM is able to overcome the limitations of EVM and make it easier for new developers to get into the space. Two VMs running simultaneously, and each one being interactive, is a key factor in the success of a Layer-1 blockchain.

BCN: How does that benefit the broader blockchain ecosystem?

SW: It will dramatically expand the blockchain ecosystem by enabling Web2 developers to build innovative, decentralized, and interoperable solutions in the Web3 space.

BCN: Astar Network is said to be offering true interoperability with cross-consensus messaging. What does this all mean?

SW: We believe in a truly interoperable Web3 ecosystem, and provide developers with everything they need to build truly interoperable dapps. It’s possible through

Cross-consensus messaging (XCM): It allows dapps built on chains with different consensus mechanisms to securely transfer data and value between one another. Bidirectional exchange is possible. This exchange is possible because Astar, a para-chain on Polkadot, can use it as one of our core features.

Cross virtual machines (XVM),: This allows interoperability among two smart contract environments, such as WASM and EVM. EVM can be used by a dapp to implement their smart contract, but WASM can also be used.

These two innovations will mark the beginning of the next wave in dapps innovation.

What are your thoughts about this interview? Please let us know your thoughts in the comments below.

Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, author and writer who has been awarded the Zimbabwe Booker Prize. He has written extensively on the economic problems of certain African countries and how digital currencies can offer an escape route.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or related to the use or reliance of any content, goods, or services in this article.

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Ethereum

Ethereum Foundation Sets Up Multisig Wallet for Defi Participation

The Ethereum Foundation has announced the creation of a new multi-signature wallet using the Safenet platform to enhance its treasury operations and facilitate participation in the decentralized finance (defi) ecosystem. Ethereum Foundation Begins Transition to Safe Multisig Wallet The wallet, which operates on a 3-of-5 multisig structure…
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Ethereum

Ethereum Price Analysis: This Support Is Crucial for Ethereum to Reach $4K

Ethereum is grappling with a decisive support range between the 100-day MA ($3.2K) and the 200-day MA ($3K), a critical region serving as the buyers’ last line of defense.

The outcome at this level is expected to shape Ethereum’s mid-term trajectory.

Technical Analysis

By Shayan

The Daily Chart

ETH recently encountered heightened volatility as it approached the significant $3.2K-$3K price range, reflecting an intense battle between buyers and sellers. The price action highlights sellers’ attempts to push the asset below these key moving averages, signaling a potential bearish breakdown.

Currently, Ethereum is finding temporary support within this range, with the price confined between the $3.2K level and the bullish flag’s upper boundary. A decisive breakout in either direction is likely to determine the next major trend for Ethereum.

The 4-Hour Chart

On the 4-hour chart, Ethereum consolidated near the 0.5 ($3.2K) and 0.618 ($3K) Fibonacci retracement levels before briefly breaking below this critical support zone. However, strong buying interest quickly drove the asset back above the $3.2K mark.

This region remains pivotal as it represents the final primary support zone for buyers. A sustained hold above the $3.2K level could reignite bullish momentum, targeting a recovery toward higher resistance lines.

Conversely, a breakdown below this range could trigger liquidations, potentially driving the price toward the $2.5K support zone. For now, Ethereum is consolidating near this critical region, with a battle between buyers and sellers dictating the market’s next move.

Onchain Analysis

By Shayan

The Binance liquidation heatmap provides insights into key levels where significant liquidation events are likely. Based on the clustering of liquidation levels for long and short positions, these levels often act as magnets, driving price action toward them as market participants aim to capture liquidity.

During the recent shake-off, Ethereum grabbed liquidity at the $3K mark, resulting in a sharp price recovery. A notable cluster of wrecked levels still exists just below the critical $3K support, representing long-position liquidations. This makes the $3K area highly attractive to bears and institutional sellers, increasing the probability of a bearish breakout toward these levels in the mid-term.

However, a significant liquidity pool also rests at the $4K threshold, marking a potential ultimate target for buyers. However, it is likely that the price may grab liquidity below $3K first, creating a shakeout phase before resuming a bullish trajectory toward $4K. While Ethereum’s current price action reflects consolidation, the $3K level remains pivotal. A bearish breakout to capture liquidity below $3K is plausible in the short-to-mid term.

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Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.

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