Zeus

Ethereum

Harmony

Solana

Zeus Network

<a href="https://bitcoinworld.co.in/the-solana-virtual-machine-svm-is-reshaping-multi-chain-harmony-as-we-know-it-heres-how/" title="The Solana Virtual Machine (SVM) is Reshaping Multi-Chain Harmony as We Know It. Here’s How" rel="nofollow"></a>
Over the last couple of months, the Solana Virtual Machine (SVM) has been hailed as a game-changer by many within the crypto world, thanks, in large part, to its unparalleled advantages in speed and cost-efficiency. As the backbone of the Solana ecosystem, the SVM has <a href="https://www.coingecko.com/learn/what-is-the-solana-virtual-machine-svm">demonstrated</a> an ability to process over 2,400 transactions per second (TPS) at a fraction of the cost of its competitors (sometimes as low as $0.001).&nbsp; 
In fact, these metrics far outpace Ethereum Virtual Machine (EVM) based networks like the Base Network, which operates at about 40 TPS with transaction fees of around $0.03. Even more impressively, the Solana network has the potential to scale up to 65,000 TPS under optimal conditions. These prospects have helped reshape the way in which developers view the creation and deployment of decentralized applications (dApps) within the broader cryptocurrency ecosystem. 
Technically speaking, SVM’s architecture leverages the power of ‘parallelized transaction processing,’ making it ideal for high throughput, near-instantaneous transaction finality, and minimal fees. As a result, it has quickly transformed into an attractive option for a wide range of decentralized finance (DeFi) applications, NFT projects, and other blockchain-based services.&nbsp; 
The rapid adoption and growing interest in the SVM are evident in the numbers. For example, Solana’s Total Value Locked (TVL) has seen an astronomical increase, growing tenfold (10x) in just six months. Moreover, reports suggest that the SolanaVM is poised to <a href="https://markets.businessinsider.com/news/currencies/solanavm-is-bringing-68-billion-value-evm-dapps-to-solana-with-their-evm-compatible-l2-chain-1033349782">bring over $68 billion</a> worth of Ethereum-based protocols to the Solana ecosystem.&nbsp; 
This has the potential to significantly boost Solana’s ecosystem and drive increased developer activity in the Web3 space. By enabling Ethereum developers to easily port their applications to Solana with minimal code changes, SolanaVM can potentially accelerate its adoption across a broader range of projects and use cases. 
&nbsp; 
<h3 id="span-style-font-weight-400-expanding-svm-s-horizons-beyond-solana-span">Expanding SVM’s horizons beyond Solana</h3> 
The advantages offered by the SVM have not gone unnoticed by projects outside of the Solana universe, as a number of prominent initiatives are now exploring ways to harness SVMs power across different blockchain networks — thus opening up new possibilities for interoperability and scalability. 
For example, Eclipse Labs <a href="https://www.businesswire.com/news/home/20240311254845/en/Eclipse-Labs-Announces-50M-Series-A-Funding-co-led-by-Placeholder-and-Hack-VC">recently raised $50 million</a> to develop its Layer-2 (L2) offering designed to scale Ethereum using components from Solana’s digital framework. This hybrid approach aims to combine Solana’s speed with Ethereum’s security, creating a unique scaling solution that could appeal to developers from both ecosystems. Eclipse’s mainnet, set to launch in the coming weeks, will allow Solana-based applications to run with minimal modifications while using SOL as the native token. 
Another project pushing the boundaries of SVM adoption is the Zeus Network. It stands out for its ability to leverage the SVM’s advantages across multiple use cases and blockchain ecosystems. One of the project’s key USP’s is its ability to support complex DeFi applications that span different networks. For example, a decentralized exchange (DEX) built on Zeus could potentially offer trading pairs that include assets from Bitcoin, Solana, Ethereum, and other compatible networks, opening up new possibilities for liquidity aggregation and arbitrage opportunities. 
Moreover, <a href="https://zeusnetwork.xyz/">Zeus Network’s</a> implementation of the SVM enables it to support advanced smart contract functionality across different environments. Use cases stand to range from cross-chain lending platforms to multi-chain yield farming strategies, all executed with the efficiency and speed that the SVM provides.&nbsp; 
To this point, the platform <a href="https://medium.com/@zeus-network/unlocking-connectivity-between-bitcoin-and-solana-with-zpl-zeus-program-library-126d0f9b4d9d">recently announced</a> the upcoming launch of a new Solana-to-Bitcoin cross-chain bridge (slated for release sometime during Q3 2024), enabling BTC holders to engage with the Solana DeFi landscape. Through ZPL and the bridging protocol Apollo, users can deposit Bitcoin and receive ZPL-wrapped zBTC tokens, which can be used across various Solana-based applications.&nbsp; 
The potential impact is substantial, given Bitcoin’s massive market cap of approximately $1.2 trillion. Furthermore, Zeus Network <a href="https://tokenpost.com/Zeus-Network-Set-to-Launch-Solana-to-Bitcoin-Bridge-in-Q3-2024-11688">plans to expand</a> ZPL-supported assets on Solana to include Bitcoin Runes and Ordinals, dubbed “zRuneX” and “zOrdX,” respectively, further enhancing interoperability between these blockchain ecosystems. 
&nbsp; 
<h3 id="span-style-font-weight-400-the-future-looks-bright-for-svm-span">The Future Looks Bright for SVM</h3> 
Looking ahead, the Solana ecosystem is poised to become a major force within the crypto ecosystem. As more developers and projects recognize the benefits of the SVM’s high-performance architecture, it is reasonable to expect an explosion of innovative applications and use cases.&nbsp; 
Furthermore, the integration of SVM-centric tech with other blockchain networks has the potential to address some of the crypto industry’s most pressing challenges. By enabling seamless communication and transaction processing between different blockchain ecosystems, these solutions could play a crucial role in realizing the vision of a truly interconnected and efficient Web3 landscape.

The Solana Virtual Machine (SVM) is Reshaping Multi-Chain Harmony as We Know It. Here’s How

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ItsBitcoinWorld

Інші статті, опубліковані 20 черв. 2024 р.

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