as a blockchain As networks grow and serve more users, their scale—as measured by the number of transactions and participants—can both solve and create challenges.
Blocking programs that automate deals, such as Smart contractsThey often face significant challenges, especially those with a large, active user base. Too many users are trying to do things at once, and the Ethereum Virtual Machine (EVM) at the center can't process all the transactions the ecosystem needs in quick succession. Limited space on the blockchain can increase competition for inclusion in blocks, increasing transaction fees during heavy usage.
If there's one thing stopping the growing platform from delighting its users, it's the slow and expensive transactions in the apps. One of the crypto world's busiest platforms with over 31 million users, Web3 distribution platform Galax sought to address these common issues when it designed its own custom-built blockchain, Gravity.
In the year In August 2024, Gravity introduced the Layer 1 Blockchain with the launch of the Alpha Mainnet: a Stock confirmation (PoS) blockchain and smart contract platform, built to meet the needs of the Galax community's 31 million strong user base.
What is Grevm 1.0?
Grevm 1.0 is an open-source, parallel Ethereum Virtual Machine (EVM) that is the “technology core” of Gravity, facilitating nearly 800,000 daily transactions on Galxe's ecosystem. It is based on revm, an EVM written in the Rust programming language.
Parallel EVMs differ from traditional EVMs in that they have a way to process multiple transactions or smart contracts concurrently, not sequentially, which helps avoid performance bottlenecks during peak demand.
How does Grevm work?
Greve uses a blockchain-inspired, parallel execution engine to run its smart contracts. BlockSTM was put together in 2022 by researchers from Aptos, MyStem Labs, UCL, ChainLink Labs, and MT. BlockSTM is inspired by an academic approach in computer science known as Software Transient Memory (STM).
The Galxe team improved BlockSTM using information from the simulation results. Gravel also uses asynchronous I/O in its algorithms, a design feature that allows programs to perform other tasks until input or output operations are completed, rather than pausing and waiting.
According to Galxe, it includes Asynchronous I/O, a feature not available in the vanilla version of BlockSTM, which allows it to perform better in many situations, such as when experiencing high latency.
What is special about Grevm?
Galxe benchmark testing indicates that Grevm is the fastest open source parallel EVM implementation to date.
For fully parallel transactions, Galxe Grevm can be 4.13× faster than serial execution, up to 26.50 Gigabytes/s. When Galxe simulates a high latency environment of 100 μs, it achieves a speed of 6.80 gigabytes/s, running 50.84x faster than serial performance.
This performance jump is achieved by combining both parallel execution and asynchronous I/O operations – enabled in parallel – which increases speed by effectively overlapping I/O operations.
In practice, Galxe notes that its ability to parallelize Greve's computations “scales up.” DeFi protocols and Daps Working on the Gravity Network, allowing multiple transactions to run in parallel, reducing latency and increasing throughput.
Who builds on Grevm and gravity?
Galxe Quest is a platform for building and engaging Web3 communities. Using a codeless solution allows many projects to create rewards-based loyalty programs. Optimism, Arbitrum, Base and over 6,500 other Web3 projects use it to provide users with freebies like loyalty points and additional NFTs. Galxe Passport is a digital identity product that allows users to securely store their identity information and use it across hundreds of supported applications. The Galxe Score evaluates users based on their chain activity, project involvement, and overall involvement in the Web3 community, providing an overview of their presence and reputation. Symbiosis is a cross-chain Automated Market Maker (AMM) and decentralized exchange that integrates Gravity into a platform, allowing users to link assets between Gravity and over 35 blockchain networks.
What is the G symbol of gravity?
Following the token migration from GAL in July, the Gravity blockchain will use G as its native utility token. G is used to pay gas bills on the network and make payments on apps like Galxe Quest, Galxe Passport and Galxe Score. G also offers users various opportunities to define the future of the gravity network.
Users can stake their tokens to protect the network and participate in future management decisions, to determine the future of the blockchain.
Where can you buy a Gravity G token?
G can be bought on major exchanges like Binance, OKX, Upbit and KuCoin. It is also sold on decentralized exchanges (DEXs) as Uniswap.
You can buy G on Binance directly using dollars; Other exchanges offer trading pairs with Tether (USDT), USD Coin (USDC), Bundled BNB (WBNB) or Bundled Ethereum (WETH).
What does the future hold for Grevm?
Gravem's successor, Gravem 2.0, is slated for release in early Q1 2025. Gravem's second iteration focuses on refining the parallel transaction process to increase efficiency and accuracy. With continued testing and improvements, Galxe Grevm 2.0 expects to enable faster and more scalable solutions in the gravity ecosystem.
Grevm 2.0 introduces fully asynchronous I/O as well as a “fine-grained” transaction phase, allowing related transactions to run in parallel after their dependencies are resolved.
Discover Grevm 1.0 here or explore how Gravity can power projects to build decentralized solutions through its $50 million initiative here .
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