Multichain Decentralized Application Astar Unveils Second Iteration of Smart Contracts Apr 4, 2023 Apr 4, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsApril 4, 2023 by Kelly Cromley

Multichain Decentralized Application Astar Unveils Second Iteration of Smart Contracts

The Astar Network has introduced a new iteration of its smart contracts that is compatible with both the Ethereum Virtual Machine and the WebAssembly Virtual Machine. Astar Network, a protocol for decentralized applications (DApps) that operates on multiple networks, announced the release of version 2.0 of its smart contracts on its principal network on April 6. The impending release will support both Ethereum Virtual Machine (EVM) and WebAssembly Virtual Machine. (WASM VM). According to the Astar team, it is essential for the success of a developing layer-1 blockchain to be able to use both virtual machines and facilitate communication between them.

The Astar team believes that while smart contracts on the Ethereum network have contributed to the Web3 revolution, they are insufficient to develop the future of blockchain by themselves. Therefore, Astar Network offers a choice to software developers who wish to take benefit of both EVM and WASM VM features.

To commemorate the inauguration, the Astar team has organized a panel discussion for community members. The panel will be conducted by Astar and Polkadot executives and developers. The discussion will centre on the possible applications of WASM. In addition, the organisation will hold discussions with its infrastructure partners, who will lay the foundation for the WASM ecosystem.

Regarding the Ethereum layer-2 scaling solution, the announcement has been made. With the launch of the zkEVM beta on Polygon’s mainnet, developers can now deploy smart contracts at reduced costs. The founder of Polygon, Sandeep Nailwal, referred to ZK proofs as the ultimate scaling solution for Ethereum. Polygon has released the beta version of zkEVM, and Astar Network has released the second version of its smart contracts, providing developers with alternative options to leverage Ethereum’s scalability benefits.

The Web3 Foundation, which is responsible for Polkadot, has reiterated their position that the DOT token is not classified as a security. The company announced on January 26 that the Department of Transportation (DOT) has shifted its focus away from security and that the Securities and Exchange Commission (SEC) is willing to discuss matters with it.

In conclusion, Astar Network has introduced a new version of smart contracts that is compatible with EVM and WASM VM, allowing developers to take advantage of the benefits of both virtual machines. As the blockchain industry advances and evolves, it is likely that additional alternative solutions and protocols will arise to meet the requirements of developers and consumers.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.