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Webassembly Smart Contracts ‘Driving Tons of Talent from Web2 to Web3’ – Bitcoin News Interview

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Ethereum is globally credited with launching the Web3 revolution after it brought the concept of smart contracts to life. However, some in the Web3 community, such as Astar Network’s Sota Watanabe, believe that the protocol cannot “build an innovative future on blockchain alone.” Additionally, some critics point to a language hurdle that they say makes the Ethereum Virtual Machine (EVM) a less than ideal place to build.

Webassembly smart contracts ‘will accelerate Web3 adoption’

It is these and other limitations of the EVM that have led to the creation of an alternative known as Webassembly (WASM). This alternative is said to be a virtual machine of choice for developers, engineers, and academics who are frustrated with the EVM. According to Watanabe, for Web2 developers who want to move to Web3, WASM seems like a logical choice because it “supports a wide range of languages ​​with native performance and high portability.”

To find out more about WASM, Bitcoin.com News reached out to Sota Watanabe, CEO of Astar Network, a multi-chain smart contract platform.

In his written responses to questions sent, he said Astar network The CEO gave his thoughts on Webassembly and the role it will play in accelerating Web3 adoption. Watanabe also explained why Astar Network supports both EVM and WASM.

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Below are Watanabe’s responses to questions sent to him via Whatsapp.

Bitcoin.com News (BCN): In very simple terms, can you explain to our readers what WASM is?

Sota Watanabe (southwest): Webassembly, more commonly called WASM, is a portable assembly target for programming languages. WASM supports a wide range of languages ​​with native performance and high portability. At Astar, we support a WASM smart contract environment, just like the Ethereum Virtual Machine (EVM). What’s nice about WASM is that most Web2 languages ​​are compilable to Webassembly, which isn’t true of Ethereum’s EVM which is based on a specialized programming language called Solidity.

We believe that the increased use of WASM smart contracts will greatly accelerate Web3 adoption. Most of the tech talent is still working in the Web2 space, and if Web2 developers want to get into Web3, they have no choice but to learn a new programming language called Solidity which is used by today’s most popular smart contract platform (EVM). This is a snag. Imagine if they could build Web3 dapps [decentralized applications] using languages ​​they already know. Moreover, make their dapps compatible with EVM easily. This is why WASM smart contracts are considered [going to] Attracting a lot of talent from Web2 to Web3. This is why it is so exciting.

BCN: What are some of the challenges or limitations of EVM and how does WASM overcome them?

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SW: Although Ethereum brought us the Web3 revolution with the introduction of smart contracts, it cannot build an innovative future for the blockchain alone. With a specialized programming language, it limits the developer community’s ability to explore and create new, truly interoperable dapps. EVM is blockchain specific, with less support and a specialized programming language, Solidity.

Today, Web3 is off-limits to many Web2 developers because Web2 languages ​​are not compilable in Solidity, the programming language on Ethereum. With Webassembly (WASM), developers can quickly transition from Web2 to Web3 infrastructure, which enables them to spend more time building core features in dapps than learning specialized languages ​​like Solidity.

WASM increases performance because it is closer to the language of machines. It provides near-native performance for web browser applications and allows developers to build high-speed web applications in the language of their choice. Also, WASM has huge potential for the future of the Internet since it is designed for the web.

BCN: Already powered by four major browser engines (Chrome, Firefox, Edge, and Webkit), WASM is said to be more secure, efficient, fast, debuggable, and open. Can you explain in simple terms why this is important?

SW: you are right. All the things you said about WASM have helped build trust among Web2 developers. And when they can build interoperable Web3 applications using WASM tools, they are more likely to adopt Web3.

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Moreover, the development of WASM is already supported by first-class companies such as Google, Microsoft, and Mozilla, and can be used with popular programming languages ​​​​such as C/C++, GO, TypeScript, and RUST, which is popular among Web2 developers.

BCN: Some reports have suggested that Web2 developers who migrate to Web3 are drawn to WASM. Is this suggestion correct? If this is the case, what do you think could be the cause(s)?

SW: The answer will be similar to numbers 2 and 3. I would add:

Over the years we’ve interacted with thousands of Web2 developers who tend to build in Web3, but the lack of familiar tools has been a hindrance. By supporting WASM, making it interoperable with the EVM, and providing developers with all the tools they need to build Web3, Astar Network hopes to give this nascent ecosystem a major boost.

BCN: Rather than encouraging or discouraging the use of either, your Astar Network platform is said to help developers build dapps using both EVM and WASM. What are your reasons for supporting both virtual machines?

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SW: Developers in the Web3 space come from a variety of backgrounds – armed with different skill sets, abilities, and preferences. They should not all be forced to bring their vision to life using a single smart contract platform. They deserve to choose, and then it’s up to them to decide which smart contract is right for the project they’re building.

Yes, we support both EVM and WASM smart contracts to give developers flexibility. EVM because it is the most popular smart contract environment with the largest user base. WASM because it overcomes the limitations of EVM while facilitating the entry of a new wave of developers into the space. We believe that having two virtual machines simultaneously and making them interactive is a key success factor for an emerging layer 1 blockchain.

BCN: How does this benefit the broader blockchain ecosystem?

SW: It will significantly expand the blockchain ecosystem by enabling Web2 developers to build innovative, decentralized and interoperable solutions in the Web3 space.

BCN: The Astar Network is said to offer true interoperability with consensus messaging. What does this mean?

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SW: We believe in a truly interoperable Web3 ecosystem, and provide developers with everything they need to build truly interoperable dapps. We achieve it through:

Cross-Consensus Messaging (XCM): Allows dapps built on-chains with different consensus mechanisms to securely transfer data and value between each other. Bi-directional exchange. It is made possible because Astar is a semi-chain on Polkadot and they can use this feature as part of our core features.

Cross Virtual Machines (XVM): Provides interoperability between two different smart contract environments such as EVM and WASM. A dapp can use an EVM for its smart contract but can implement WASM smart contract modules and at the same time use features from other notable chain to be integrated into the dapp.

These two innovations will be the beginning of the next wave of innovation in dapps.

tags in this story

Astar networkAnd the BlockchainAnd the dAppsAnd the EthereumAnd the Ethereum Virtual Machine (EVM)And the smart contractAnd the hardnessAnd the Sota WatanabeAnd the m wasAnd the Web 3And the WebAssembly

What do you think of this interview? Tell us what you think in the comments section below.

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Terrence Zemoara

Terence Zemwara is an award-winning Zimbabwean journalist, author and writer. He has written extensively about the economic problems of some African countries as well as how digital currencies can offer Africans an escape route.














Image credits: shutterstock, pixabay, wikicommons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services or companies. Bitcoin.com It does not provide investment, tax, legal or accounting advice. Neither the Company nor the author shall be liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.



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New research suggests that baby boomers make better crypto investors

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As a millennial, this is hard to say, but baby boomers do the coding better. They’re taking research methods used in traditional markets and applying them to crypto projects, according to a new report from Bybit and consumer research firm Toluna.

The report says that 34% of Boomers spend “a few days” doing due diligence on a project before investing – 50% more than other generations. Even more troubling, “64% of North American investors spend less than two hours or not at all on DYOR.”

Boomers are also likely to focus their research on technical factors such as tokens, revenue, and the competitive landscape. Contrast this with their younger compatriots, who are more likely to appreciate reputation items like a charismatic founder and “website aesthetics.”

This goes to show that being a digital and hands-on native is not as much of an advantage as people think. It actually pales in comparison to some of the Warren Buffet-style skills that older investors have honed over the years.

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Related: 5 tips for investing during a global recession

Baby boomers are probably more likely to retire and therefore have more free time than younger generations. It’s hard to say, but it seems the best way forward for young people is to be humble and learn from their elders.

Although crypto has many distinct characteristics that set it apart from other capital markets, it still has enough in common to allow for a decent crossover in analytical skills. After all, the price of digital assets is highly dependent on the balance of supply and demand in the market, just like the traditional markets.

Digging in Technologies This can prevent the kind of bad decision making that led to big losses in 2022. Several times I felt good about buying a token based on the project white paper and the solid narrative that drove it, but I found, upon further research, that there is a lot of capital involved. The investment unleashes imports so that selling pressure will influence prices for years to come.

Newborns who are used to analyzing company numbers and calculating price-to-earnings and price-earnings-to-growth ratios can apply these skills to data from CoinGecko or CoinMarketCap. Young generations need to know why “circulating supply” vs. “maximum supply” important and why size is critical.

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In fact, cryptocurrency projects that are similar to traditional value investments have held up relatively well in the bear market. Investors are becoming more aware of the difference between protocols that issue tokens as a glorious way to raise funds and those that generate revenue and share it with their holders. So-called “real-yield” crypto projects are not unlike dividend-paying companies — something boom investors may be familiar with and possibly drive some of their investment decisions.

This is not to ignore the importance of narrative and community in modern investing and cryptocurrency in particular. For example, perennial decentralized trading platforms such as GMX, Gains, and ApeX Pro benefited from the pro-decentralization sentiment after the FTX bankruptcy.

Researching this aspect requires a good knowledge of social media, especially Twitter, which is one of the main ways to reach crypto analysts, founders, and downstreamers. Investors use these tools to find the narrative, assess where the narrative is in its life cycle, and gauge overall market sentiment.

Related: Five reasons why 2023 will be a tough year for global markets

But Millennials and Generation Z don’t really have an edge when it comes to using social media to assess trends because it’s not that new anymore. it’s a Web 2Everyone already knows how to use social media. In fact, young adults are turning their familiarity with social media into a disadvantage by overestimating it as a research tool, while baby boomers are more likely to stick to the facts.

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Traditional investing due diligence continues to distinguish men from boys, just as it has throughout history. As long as that happens, baby boomers will outpace the younger generations because they do more research and tend to be more patient when it comes to investing, resulting in higher returns than the younger generations, who may jump into investing without fully understanding what they are getting into. If you are looking for someone who is reliable and knowledgeable about due diligence, look no further than your parents or grandparents.

Nathan Thompson He is the lead technical writer at Bybit. He spent 10 years as a freelance journalist, covering mostly Southeast Asia, before turning to cryptocurrency during the COVID-19 lockdowns. He holds a Joint Honors degree in Communication and Philosophy from Cardiff University.

This article is for general information purposes and is not intended and should not be considered legal or investment advice. The views, ideas and opinions expressed herein are those of the author alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

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Bitcoin investor sentiment remains steady with BTC stalling at $16,000

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Bitcoin investor sentiment is deadlocked amid price faltering in the market. While the digital asset continues to hold the $16,000 level, investors retreat from the market, ensuring that there is no big move either up or down, and as a result, investor sentiment has not moved.

Bitcoin investors are still in fear

the Encryption of fear and greed It shows that Bitcoin investor sentiment has not moved much in the past month. He finished November with a score of 29 which put him right in the fright zone but since then he has been unable to break out of that trend.

The score in this indicator over the course of December ranged between 26-30 mostly, maintaining an almost straight line trend over the period. So far, the Fear and Greed Index is at a score of 28 which is up one point from last week’s close of 27.

Bitcoin Fear & Greed indicator

Fear & Greed Index trends in an almost straight line | Source: alternative.me

What this trend in the Fear and Greed Index shows is that bitcoin investors are not willing to take any risk. This is why the indicator could not move into the greed zone. On the flip side, selling sentiment has not been as strong as one would expect during a time like this. If investors were to sell more of their bitcoins, it would be obvious given that the index would slide further. Instead, it continues to maintain a roughly consistent point level, which means that the hold sentiment is now dominating the market.

Will BTC See A Recovery Soon?

Bitcoin is still finding it difficult to regain the momentum it lost over the past month. This reluctance on the part of investors to do anything with the tokens has led to the price of the digital asset following the same path as sentiment. BTC has now refused to break out from the $16,000 price level.

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Bitcoin price chart from TradingView.com

BTC price maintains $16,000 level | Source: BTCUSD on TradingView.com

As a result, Bitcoin’s volatility dropped to all-time lows. So it is likely that the last two days of 2022 will follow the same trend. A recovery should not be expected in any way as the momentum will continue to decline as people take a break from the markets to celebrate with family.

Instead, it is important that BTC holds above $16,000 to close the year. Anything below this level would be very bearish and could lead to more declines in the market as the bears take control. But finishing above $16,000 strengthens investors’ resolve to hold on to their coins.

BTC is trading at $16,519 at the time of writing. Its price has decreased by 0.43% in the last 24 hours and 2.01% in the last 7 days.

Featured image by Finbold, chart from TradingView.com


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Valkyrie proposes to run GBTC – Bitcoin’s grayscale magazine

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Valkyrie Investments has submitted a proposal to take over the troubled GBTC Bitcoin trust.

“We understand that Grayscale has played an important role in the development and growth of the Bitcoin ecosystem with the launch of GBTC, and we respect the team and the work they put in,” said Stephen McClurg, Valkyrie co-founder and CIO. In a statement posted on the company’s website. “However, in light of recent events involving Grayscale and its family of companies, it is time for a change. Valkyrie is the best GBTC management firm to ensure that its investors are treated fairly.”

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