As blockchain network grow and offer more customers, their scale—measured by the volume of transactions and participants—can both fix and build challenges.
Bitcoin running programs that implement agreements, like bright contracts, usually face significant challenges, especially those with big, active user bases. Too many users are trying to do things simultaneously, and the Ethereum Virtual Machine ( EVM ) at its center simply can’t do all the transactions the ecosystem wants in quick succession, one after another. The blockchain’s limited space can also increase competition for stones, increasing transaction costs during times of high use.
If there’s one factor that stops a growing system from keeping its customers content, it’s slow and expensive purchases on its uses. Web3 submission software Galxe, one of the blockchain nation’s busiest programs with over 31 million customers, sought to address these common issues when designing its own tailor-made bitcoin, Gravity.
In August 2024, Gravity introduced its Layer 1 Blockchain with the launch of its alpha mainnet: a proof-of-stake ( PoS ) blockchain and smart contract platform, built specifically to cater to the needs of the Galxe community’s 31 million-strong user base.
What is Grevm 1.0?
Grevm 1.0 is an open-source, parallel Ethereum Virtual Machine ( EVM ) runtime that is” the technological core” of Gravity, facilitating almost 800, 000 daily transactions running on Galxe’s ecosystem. It’s based on revm, an EVM written in the coding speech Rust.
Parallel EVMs are unique from regular EVMs because they allow you to run multiple transactions or smart contract operations at once rather than simultaneously, which can help prevent performance bottlenecks when there is a high demand.
How does Grevm job?
Grevm uses an algorithm inspired by BlockSTM, a type of horizontal murder website, to run its bright deals. BlockSTM was put up by a team of researchers from Aptos, Mystem Labs, UCL, Chainlink Labs and MIT in 2022. The term” Software Transactional Memory” (STM) is used academically in computer technology to inspire the creation of BlockSTM.
Utilizing data derived from BlockSTM’s model results, Galxe’s group enhanced it. Grevm’s engine also incorporates Sequential I/O, a layout feature that prevents plans from pausing and waiting while performing other things while waiting for input or output tasks to complete.
According to Galxe, incorporating Sequential I/O, a function not present in the chocolate type of BlockSTM, allows it to do better in some circumstances, such as when high overhead is current.
What’s so special about Grevm?
According to Galxe’s standard testing, Grevm is the most rapid open-source reverse Agile implementation available today.
For purchases that are completely parallelizable, Galxe claims that Grevm may be 4.13× faster than chronological murder, running at up to 26.50 gigagas/s. When Galxe simulated a high overhead setting of 100 μs, it was found to work 50.84x faster than chronological murder, with 6.80 gigagas/s capacity.
This performance increase is attributable to both the use of parallelized execution and the use of asynchronous I/O operations, which further speed up the process by effectively overlapping I/O operations.
In practice, Galxe explained that Grevm’s ability to handle computations in parallel will “elevate” DeFi protocols and dapps running on Gravity’s network, by allowing them to execute multiple transactions in parallel, minimize latency, and boost throughput.
Who’s building on Grevm and Gravity?
Galxe Quest is a platform for building and engaging Web3 communities. Using a no-code solution, it allows numerous projects to create reward-based loyalty programs. Optimism, Arbitrum, Base and over 6, 500 other Web3 projects use it to provide users with freebies like loyalty points and complementary NFTs.
- Users can securely store their identity information in Galxe Passport and use it across hundreds of supported applications thanks to the digital identity product Galxe Passport.
- Galxe Score evaluates users based on their on-chain activities, project participation, and overall engagement in the Web3 community, providing a comprehensive view of their presence and reputation.
- A cross-chain automated market maker ( AMM) and decentralized exchange has integrated Gravity into its platform, which enables users to bridge assets between Gravity and over 35 blockchain networks. Symbiosis is a decentralized exchange.
What is Gravity’s G token?
Following a token migration from GAL in July, the Gravity blockchain now uses G as its primary utility. G is used to make purchases on apps like Galxe Quest, Galxe Passport, and Galxe Score as well as for gas fees on the network. G also offers users a variety of opportunities to take part in shaping the future of the Gravity network.
Users can vote on the blockchain’s future, use their tokens, and secure the network by playing a role in future governance decisions.
Where can you buy Gravity’s G token?
G can be purchased via major exchanges such as Binance, OKX, Upbit, and KuCoin. It’s also traded on decentralized exchanges ( DEXs ) such as Uniswap.
On Binance, you can buy G directly using USD, other exchanges offer trading pairs with Tether ( USDT), USD Coin ( USDC ), Wrapped BNB ( WBNB), or Wrapped Ethereum ( WETH).
What does Grevm’s future hold?
Grevm’s successor, Grevm 2.0, is pegged for release in early Q1 2025. In order to improve parallel transaction processing, the second iteration of Grevm will concentrate on improving accuracy and efficiency. With continued testing and enhancements, Galxe expects that Grevm 2.0 will enable faster, more scalable solutions within Gravity’s ecosystem.
Grevm 2.0 will introduce fully Asynchronous I/O as well as “finer-grained” transaction-level concurrency, allowing related transactions to run in parallel once their dependencies are resolved.
, or learn how Gravity’s$ 50 million initiative empowers projects to create scalable decentralized solutions
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