EVM, or Ethereum Virtual Machine, is the core computational engine of the Ethereum blockchain network. From executing smart contracts to deploying dApps, keeping track of the blockchain’s activities, and ensuring security, you can say EVM does a fantastic job until you look at the cons!
High gas fees, scalability issues in executing transactions across different blockchain networks, slower execution, limited flexibility, and a lack of features compel us to find better alternatives. That’s where AltVMs come in.
AltVMs are virtual machines on the blockchain network that are similar to EVMs but differ in their architecture, capabilities, and programming environment. AltVMs like MoveVM, NeoVM, and AVM execute smart contracts and help developers build and deploy dApps on the blockchain.
In this blog, we will dive deeper into the concept and features of AltVMs. Also, we will find out how AltVMs are better in comparison to their traditional counterparts, EVMs. Stay tuned till the end of the blog!
Read this guide to find out how you can become a pro blockchain developer.
What Are AltVMs?
AltVMs, or Alternate Virtual Machines, are blockchain virtual machines that help you execute smart contracts, verify transactions, support consensus mechanisms, and ensure a secure execution environment. While its functions sound similar to EVMs, AltVMs are considered a better alternative to the former because they’re:
- Cost-efficient
- Facilitate interoperability among different blockchain networks
- Gives developers access to a wide array of tools and advanced tools to build dApps
- Executes smart contracts and transactions faster
You can think of AltVMs as specialized virtual machines that work on blockchain networks to execute specific tasks with high accuracy.
Let’s assume you run a sushi restaurant. So, you will need special tools like sushi knives, which are super sharp for thinly sliced fish, which is critical for the taste and texture of sushi. Now these sushi knives are like AltVMs, which are efficient in a specific task and serve its purpose to execute that task perfectly. You would not have been able to slice fish to perfection with a general knife. Here the general knife is like the EVM.
Now when you are working on the blockchain to build a game, you will require a special tool, or we can say an AltVm like Wasm (WebAssembly), that supports multiple programming languages. This gives more creative flexibility and operational scalability to developers than EVM.
EVMs are great for general-purpose applications. It is a sedan that runs smoothly on all standard roads. But when you need faster processing on a blockchain network like Solana, would prefer a race car engine like Sealevel VM. And if you want a car with better security features, you will opt for an AltVM like Move VM.
Examples of AltVMs
- Move VM is a security and safety-focused VM developed by the Facebook Diem project. It enables developers to build scalable and privacy-preserving decentralized apps (dApps).
- Avalanche Virtual Machine is a part of the Avalanche blockchain network which supports the development of custom virtual machines.
- Filecoin Virtual Machine, or FVM, is a WASM that focuses on the scalability and performance of applications and can be easily integrated with Filecoin storage.
- Solana Virtual Machine, or SVM, is a popular choice among developers for dApps and NFT marketplaces due to its capability to process multiple transactions simultaneously. This decreases the costs and improves performance.
- zkEVM is an Ethereum-based virtual machine that works on the principle of zero-knowledge proofs, enhancing overall security. Developers can execute Ethereum smart contracts using zkEVM without any modifications at low cost.
Key Features Of AltVMs
AltVMs are designed to go beyond the limited capabilities of traditional EVMs and make blockchain networks more accessible, flexible, and scalable for developers.
Here are some notable features of AltVMs:
Scalability
AltVMs are reputed for their scalability features, as they often devise advanced mechanisms that produce better output. For example, SVM uses a parallel transaction process where multiple transactions are executed simultaneously to enhance the performance and scalability of the entire process.
Modularity
Similar to app development, developers prefer the benefits of modularity in dApp development. Many AltVMs give developers the flexibility to build or keep separate components of their applications in different compartments. This ensures the independent operation of different components without affecting the other components, resulting in smooth and uninterrupted functioning.
Security Enhancements
Blockchain networks are already secure, but AltVMs add more layers of security to avoid cyber threats. For instance, Move VM uses a block Software Transactional Memory (STM) technique that upholds the security of the network during parallel execution.
EVM Compatible
AltVMs are alternatives to conventional EVMs, but this doesn’t mean they don’t support their counterpart. Most of the AltVMs are compatible with EVM to give developers access to EVM’s libraries, giving them the flexibility to migrate their projects easily.
Multiple Programming Languages
Several AtVMs like SVM, zkEVM, Fuel VM, and Move VM support diverse programming languages, giving developers the flexibility to use the language they are confident in and build cutting-edge dApps.
Customizations
AltVMs support the development of highly customized dApps, which is crucial for several industries that can benefit from tailored blockchain solutions. For example, Move VM enables dynamic NFT traits without the need to burn or mint tokens constantly. Thai reduces the cost significantly while enhancing the user experience. Another example is FVM, which focuses on modularity and is suitable for the development of custom blockchain solutions.
What Are The Advantages Of Using AltVMs Over Traditional VMs Like EVM?
The limitations of EVM, like slower execution speed, limited parallelism, moderate security, and non-compatibility with popular programming languages, have led to the emergence of AltVMs. These alternate virtual machines are designed to resolve the shortcomings of EVM and the development of dApps cost-efficiently, faster, and efficiently.
Here is a detailed explanation of how AltVMs get rid of the drawbacks of EVM.
Scalability Issues
In EVMs, transactions are processed one after the other. This means each node processes every transaction, leading to more congestion, high gas fees, and lower scalability. This becomes a problem when you need to process millions of transactions faster in dApps.
With AltVMs, the scalability issue is gone forever. This is because alternate virtual machines use a parallel execution mechanism that processes multiple transactions simultaneously, resulting in faster transaction processing, lower fees, and high efficiency.
High Gas Fees
As we discussed above, when each node processes every transaction, the entire process becomes slow and costly. And we are not talking about 2 or 5 transactions. When it comes to executing complex smart contracts, the cost goes tremendously up. Even smaller transactions with EVM become economically unviable.
However, AltVMs make transactions more affordable even during peak times. This is because its parallel execution technique optimizes cost and reduces the operational burden.
Steep Learning Curve
EVM supports only two programming languages, Vyper and Solidity. So, the developers have to first learn to use these languages, and Solidity is no joke for even expert developers.
But AltVMs gives creative flexibility to the developers as it supports popular programming languages like Rust, Go, C++, Haskell, and Move. These languages are easier to understand, and most developers looking to pursue their career in blockchain already have the basic knowledge of these languages. The multilingual support also lowers the barrier to entry, making blockchain more accessible for all levels of developers and opening doors to the development of sophisticated dApps.
Limited Interoperability
EVM is not compatible with other blockchain networks. This makes it difficult for developers to work across different networks and integrate high-end features in their dApps.
AltVMs are made to break the boundaries of blockchain networks and enable developers to seamlessly interact with different networks.
Conclusion
AltVMs come with a bundle of benefits for developers but the biggest challenge they have to overcome is humans. The challenge is that we have gotten used to how things work around EVM and it will take time for them to shift to AltVMs. The AltVM adoption curve is not steep, but we have to change the perception of developers, users, and traders to shift to AltVMs. The need of the hour is developer awareness for AltVMs. It is important for people to understand the capabilities of AltVMs and how they can transform the way dApps function.
AltVMs illustrate the trend towards supporting diverse programming languages in blockchain development, making it easier for developers from various backgrounds to contribute to the ecosystem while enhancing the overall functionality and performance of decentralized applications. They play a crucial role in fostering innovation and expanding the capabilities of decentralized applications.
