According to PANews, Nibiru Chain, an innovative smart contract ecosystem, has unveiled Nibiru EVM, a high-performance Ethereum Virtual Machine (EVM) execution environment, in its latest v2 version. The Nibiru plan aims to surpass Ethereum's current limit of approximately 20 transactions per second (TPS), which leads to high costs during congestion periods. These limitations have hindered developers from building high-performance applications similar to Web2. Nibiru EVM overcomes these limitations by offering a throughput of over 10,000 TPS, even in single-thread execution scenarios.
By the end of 2024, Nibiru plans to upgrade the network to process transactions with parallel optimistic execution, enabling nodes to utilize additional hardware resources and further enhance the network's transaction processing capability. 'Compatibility with Ethereum is a key factor in attracting liquidity and promoting the growth of the Nibiru EVM ecosystem. Launching a blockchain protocol is a process of building trust and demonstrating practical use. Innovation and improvement of the EVM are key parts of our strategy,' explained Unique, the co-founder of Nibiru.
Ethereum developers account for over 90% of the total value locked (TVL) in the smart contract ecosystem. Nibiru EVM significantly lowers the entry threshold and accelerates development time. Nibiru EVM provides developers with a powerful, user-friendly environment, enabling seamless interaction between Ethereum tokens and multi-virtual machine applications. This multi-virtual machine approach ensures fast transaction processing and a simplified user experience.
Since the mainnet launch in March 2024, Nibiru has supported Wasm (Web Assembly) smart contracts written in Rust. Nibiru EVM provides developers with a high-performance and scalable EVM-compatible execution environment, playing a crucial role in the future of decentralized applications, driving innovation and mainstream adoption.