Logll Tech News — Stellar Development Foundation, previously known for its payment network origins back in 2014, has revealed its newest partnership with the Bytecode Alliance on August 21.
- This union aims to advocate the progression of WebAssembly (Wasm). 🌐 For those not in the loop, Wasm is giving the popular Ethereum Virtual Machine (EVM) a run for its money, despite EVM being the go-to for major blockchains like Ethereum, BNB Smart Chain, and Avalanche.
We are officially members of @bytecodeallies! Our goal? To shape the future and development of WebAssembly for blockchain developers.
— Stellar (@StellarOrg) August 21, 2023
Time to get to work 🧠https://t.co/MBLkWoNlDl
Why Wasm Over EVM?💡
In 2022, Stellar ventured beyond its comfort zone and introduced smart contracts to its arsenal. The Stellar dev team, always eyeing top-tier efficiency, went all-in with Wasm for their computational requirements by April 2022. Their justification? They felt the EVM, despite its vast popularity, had certain shortcomings in storage and execution that hindered scalability.
📈 Stellar firmly believed in Wasm’s robustness, especially given its origin story in browser applications, making it a sturdy pick for blockchain environments.
Stellar’s New Alliance and Their Motive 🌟
Many might be curious about Stellar’s tilt towards a Bytecode Alliance partnership. Here’s the kicker: this alliance, a noble non-profit group, is backed by industry titans such as Amazon, Cisco, Microsoft, and Intel.
🏢 Upon Stellar’s Wasm nod, Dfinity, an Internet Computer developer, was the lone blockchain torchbearer in the alliance. Stellar’s recent induction seemed like a “natural progression”. Why? It paves the way for them not only to shape Wasm’s developmental landscape but to be a beacon for the blockchain community at large. Stellar’s mission, in their words, is to make sure the Alliance serves both the blockchain and non-web spheres, rendering Wasm adaptable for diverse applications, notably smart contract platforms.
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Wasm Paving Its Way in Web3 🛤️
While EVM might wear the Web3 crown, Wasm is making significant strides. Come April 3, the Astar Network divulged its plan to champion both EVM and Wasm contracts on its turf, coining the day as “Wasm launch day”. 🎉 Further sweetening the deal, Binance, on August 22, committed a cool $2.2 million to support zkWASMHub, a zero-knowledge proof application platform anchored on Wasm.
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Sergio Richi
Editor, Logll Tech News