Nibiru EVM to Transform Ethereum Capabilities for Tomorrow’s Web3

Nibiru Chain, a pioneering smart contract ecosystem, introduces Nibiru EVM, a high-performance Ethereum Virtual Machine (EVM) execution environment

Tortola, British Virgin Islands, June 5th, 2024, Chainwire

Nibiru Chain introduces Nibiru EVM, a high-performance Ethereum Virtual Machine (EVM) execution environment, showcased in its latest v2 release.

The move positions Nibiru to drive mainstream adoption and innovation in Web3.

Overcoming Ethereum’s Scalability Hurdles

Nibiru Chain, a pioneering smart contract ecosystem, has announced the introduction of Nibiru EVM, a high-performance Ethereum Virtual Machine (EVM) execution environment, showcased in its latest v2 release.

The move positions Nibiru to drive mainstream adoption and innovation in Web3.

Currently, Ethereum’s infrastructure can only process around 20 transactions per second (TPS), leading to high fees during periods of congestion. These constraints make it difficult for developers to build performance-intensive applications similar to the ones seen in Web2. Nibiru EVM easily surpasses these limitations by offering throughput exceeding 10,000 TPS even with just single-threaded execution.

To take the scaling and performance a step further, Nibiru plans to upgrade the network to process transactions with parallel optimistic execution, which is “targeted for release before the end of 2024,” according to Co-Founder of Nibiru, Unique Divine. This approach allows nodes to utilize extra hardware resources, pushing the boundaries on the network’s transaction handling capabilities.

Fueling Ecosystem Expansion and Enhanced Developer Experience

“Compatibility with Ethereum is a key driver for attracting liquidity and promoting ecosystem growth on Nibiru EVM. Launching a blockchain protocol is about building trust and showcasing real-world utility. Innovating and improving the EVM is a key part of our strategy,” Unique explained.

With Ethereum developers accounting for applications that make up over 90% of the total value locked (TVL) across smart contract ecosystems, Nibiru EVM significantly lowers barriers to entry and accelerates development timelines.

The EVM serves as a foundational technology for a vast majority of blockchain protocols, playing a pivotal role in the development of decentralized applications (dApps), ranging from decentralized finance (DeFi) to non-fungible tokens (NFTs).

Nibiru EVM is set to empower developers with a robust, user-friendly environment that enables seamless interaction between Ethereum-based tokens and applications across multiple virtual machines. This multi-VM approach ensures fast transaction processing and a streamlined user experience.

Ethereum developers are able to deploy applications in a familiar EVM environment, reducing barriers to entry and accelerating development timelines, whilst also reaping the benefits of parallel optimistic execution and instant finality. Nibiru is positioned to play a crucial role in the future of decentralized applications, driving innovation and setting the stage for mainstream adoption.

About Nibiru

For the latest news and updates, visit Nibiru’s Community Hub, where you can also find the official web application and information on user guides, block explorers, and upcoming governance and improvement proposals.

Nibiru aims to be the most developer-friendly and user-friendly smart contract ecosystem, leading the charge toward mainstream Web3 adoption by innovating at each layer of the stack: dApp development, infra, consensus, a comprehensive dev toolkit, and value accrual.