Crypto Market Turns Spotlight on Parallelized EVM Trend for Enhanced Blockchain Scalability

cryptonews.com:

The cryptocurrency market has recently seen growing interest in an emerging trend—the development of parallelized Ethereum Virtual Machines (EVMs). Parallelized EVM technology is promising major improvements in blockchain scalability through parallel transaction processing. But is the hype justified or is this just another crypto fad?

An EVM is the software that handles computation and data storage on the Ethereum blockchain network. The EVM processes smart contract code and executes transactions on the network. Ethereum’s EVM utilizes sequential transaction ordering, however, which limits its ability to scale.

Parallelized EVMs seek to break this bottleneck by enabling parallel transaction execution across multiple processors. This allows for higher throughput and lower latency compared to sequential processing.

2024 will be the year of the parallel evm – rooting for everyone working on this problem incl. monad/sei/polygon and other teams that I forget.

also excited for our own internal efforts there and pushing the boundaries on database design

— Georgios Konstantopoulos (@gakonst) December 11, 2023

As New York-based crypto investment firm DBA co-founder Jon Charbonneau explains, there are two main approaches for building parallelized EVMs—deterministic and speculative parallel execution. The deterministic method uses predefined transaction ordering to avoid conflicts, while speculative scheduling speculatively runs transactions in parallel, managing conflicts as they arise.

Proponents argue that parallelized EVMs can optimize blockchain performance and efficiency. By splitting workloads across multiple processors, these parallelized systems can handle far greater transaction volumes, enabling greater application