Audience
Blockchain developers requiring a Layer 2 scaling solution to write Ethereum-compatible smart contracts
About ParaState
Write Ethereum-compatible smart contracts in popular programming languages, & run them much faster, on Substrate. A decentralized open source business model funded by developer treasuries on participating blockchains. All existing Ethereum smart contracts work on ParaState’s Ewasm VM (Pallet SSVM) without any change. ParaState expands the developer ecosystem by supporting 20+ programming languages to create Ethereum-compatible smart contracts. Examples include generic programming languages such as Solidity, Fe, Rust, and JavaScript, and domain-specific languages (DSLs) such as MOVE, DeepSEA, and Marlowe. Substrate-based blockchains, such as Polkadot parachains, already enjoy much higher TPS (transactions per second) than Ethereum. For a smart contract platform, compute performance is more important than TPS throughput. Try deploying smart contracts on ParaState.
Other Popular Alternatives & Related Software
Polkadot
Polkadot is a blockchain network being built to enable Web 3.0, a decentralized and fair internet where users control their own data and markets prosper from network efficiency and security. Polkadot was founded in 2016 by Gavin Wood, former Co-Founder and CTO of Ethereum. Polkadot’s technology addresses the major issues that have stymied blockchain adoption in recent years. Polkadot’s software development toolkit, Substrate, created by Parity Technologies, makes it easy for blockchain developers to build their own custom, fit-for-use blockchains. Polkadot also enables multiple blockchains to communicate between each other, allows for easy upgradeability, and introduces “shared security”, a plug-and-play network security model that allows developers to focus on the technology and avoid spending time and resources recruiting a set of operators to run a new blockchain.
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Acala
Scale your DApp to Polkadot with Acala, an Ethereum-compatible smart contract platform optimized for DeFi. Acala is the decentralized finance network and liquidity hub of Polkadot. It’s a layer-1 smart contract platform that’s scalable, Ethereum-compatible, and optimized for DeFi with built-in liquidity and ready-made financial applications. With its trustless exchange, decentralized stablecoin (aUSD), DOT Liquid Staking (LDOT), and EVM+, Acala lets developers access the best of Ethereum and the full power of substrate. Access DOT-based assets and derivatives, Polkadot-native decentralized stablecoin, Polkadot ecosystem assets, and cross-chain assets from Bitcoin, Ethereum and beyond. Acala’s chain is customized for DeFi and can continue to upgrade without forks to integrate new features requested from developers. For example, on-chain ‘keepers’ automate protocol execution to better manage risks and improve user experience, or transaction fees payable with virtually any token.
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BNB Smart Chain (BSC)
BNB Smart Chain (BSC) is a blockchain platform developed by Binance, designed to enable decentralized applications (dApps) and smart contracts. It operates as a parallel chain to Binance Chain, combining high-speed transactions with the programmability of Ethereum-compatible smart contracts. BSC uses a Proof-of-Staked-Authority (PoSA) consensus mechanism, which enhances scalability and efficiency while reducing transaction costs. It is compatible with the Ethereum Virtual Machine (EVM), allowing developers to easily port dApps and projects from Ethereum. BSC has become a popular choice for decentralized finance (DeFi), gaming, and NFT ecosystems, offering users a fast, low-cost, and secure platform for blockchain-based innovations.
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Cartesi
Build smart contracts with mainstream software stacks. Take a productive leap from Solidity to the vast universe of software components supported by Linux. Enable million-fold computational scalability, data availability of large files and low transaction costs. All while preserving the strong security guarantees of Ethereum. From games where players conceal their data to Enterprise applications that run on sensitive data, preserve privacy on your DApps. Descartes executes massive computational tasks off-chain, on a Linux virtual machine fully specified by a smart contract. The results of the computations are fully verifiable and enforceable on-chain by honest Descartes node runners, preserving the strong security guarantees of the underlying blockchain. Defeat the scalability limits of Ethereum, with million-fold computational gains, while preserving the strong security guarantees of the blockchain.
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ParaState
Founded: 2020
www.parastate.io
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