Proposal to Package ZK-EVM

Recently, Ethereum founder Vitalik Buterin proposed to package ZK-EVM into Ethereum's L1. The goal of this proposal is to create a native system within the Ethereum protocol that utilizes zero-knowledge proofs to verify Ethereum blocks.

The main purpose of integrating ZK-EVM into the core of Ethereum is to reduce the blockchain's reliance on external code libraries, thereby lowering the risks associated with vulnerabilities in these systems. This proposal indicates that encapsulating ZK-EVM at the protocol level and making it a core component of Ethereum represents an enhancement to the blockchain framework's structure, which can improve the security, efficiency, and processing speed of the Ethereum network.

This integration also aligns with Ethereum's multi-client philosophy, supporting various clients to use different proof systems. Packaging ZK-EVM as a strategic update to Ethereum's infrastructure aims to address scalability, privacy, and efficiency challenges, thereby supporting Ethereum's growth and adaptation to future demands.

Use Cases of ZK-EVM

One use case of ZK-VM (ZK Virtual Machine) is Polygon zkEVM, which acts as a "turbocharged engine" for blockchain applications, working with Ethereum but offering faster and cheaper transactions. This virtual machine uses zero-knowledge proofs to process transactions, speeding up the process and reducing costs while leveraging Ethereum's robust security. Polygon zkEVM combines two technologies, SNARKs and STARKs, to efficiently process transactions. SNARKs help reduce data size, saving space and costs, while STARKs accelerate the process of proving transaction validity. By running several of these proof generators simultaneously, Polygon zkEVM can process more transactions at once, making the entire system faster and more seamless.

Another example is Linea, a ZK-EVM with full EVM equivalence, compatible with most decentralized applications on Ethereum. Therefore, developers can port their DApps from Ethereum to Linea without extensive modifications. This compatibility can extend to migrating code back to Ethereum or other EVM-compatible blockchains, enhancing Linea's adaptability and interoperability within a broader blockchain ecosystem. As it is EVM-equivalent, similar to Ethereum's mainnet, Linea provides a platform for developers to create and use smart contracts in a familiar environment. This similarity is very friendly to developers accustomed to Ethereum, allowing them to utilize Linea without significant adjustments to their workflow.

Developer Migration to EVM Chains

Electric Capital's latest report outlines a shift occurring in the blockchain space: a large number of developers are flocking to EVM-compatible chains. The report indicates that 87% of multi-chain developers are already working on at least one EVM-compatible network. This demonstrates the strong appeal of EVM chains to developers, who are willing to invest time and effort in them. Developers are not only working on one chain but spreading their ideas and code across different EVM-compatible chains. The EVM ecosystem is the most active area for developers. The reasons why EVM chains attract developers are simple: for beginners, these EVM blockchains integrate Ethereum standards and protocols, allowing developers to easily adapt. They can use their existing knowledge and technology, reducing the time and effort required to enter the field.

For example, EOS EVM acts as a bridge between EOS and Ethereum ecosystems, enabling developers to bring projects, digital assets, and DApps based on Solidity from Ethereum into the EOS ecosystem. This approach leverages Ethereum's rich ecosystem and mature tools, combining them with the feature-rich EOS. EVM also supports Websocket, a tool for developing applications that require real-time communication with servers (using regular HTTP requests often involves delays). This means developers can build faster and more interactive applications directly on EOS EVM, such as chat applications, real-time trading platforms, DeFi notifications, and NFT minting tracking.

The accessibility of Ethereum and its toolbox, as well as community support, allows developers to access documentation, ready-made smart contract templates, and enthusiast forums for coding. These rich resources make building, experimenting, and innovating easier. In addition to usability, cost and scalability are also important. As Ethereum's gas fees can sometimes skyrocket, developers are looking for places to build programs while avoiding high costs. EVM-compatible blockchains typically offer lower costs and higher performance, making them highly attractive to participants looking to deploy DApps or smart contracts. Furthermore, the rise of L2 solutions and sidechains means stronger scalability and lower costs while remaining friendly to Ethereum's ecosystem.

Many projects are migrating to EVM chains, such as Polygon and Binance Smart Chain, which are active venues for DeFi projects and NFT markets, while also facilitating development, cost savings, and attracting a wider audience. In fact, developers themselves are strategically considering platforms that best combine technological acumen, economic sense, and audience reach. The shift to EVM-compatible blockchains is not only a trend but also a move by developers to maximize the potential of blockchain, focusing on efficiency, scalability, and the opportunity to connect with more users.

EVM as a Cost-Effective Alternative

Blockchain data research platform Flipside believes that EVM has become a wallet-friendly choice in the blockchain space, pointing out a major trend: given the obstacles such as high gas fees and network congestion on Ethereum, the market is seeking smoother alternatives. Users and developers are more inclined to choose L2 networks compatible with EVM, driven by the demand for lower transaction costs and faster processing times. Flipside believes that this is not just a temporary trend. The market is undergoing a transformation, driving the adoption of Ethereum alternatives compatible with EVM, as cost reduction and efficiency improvement are key to the blockchain industry.

New players and ecosystems may emerge in this process, as developers and users flock to platforms that strike the right balance between cost efficiency and performance. This may lead to a more diverse blockchain ecosystem, where various blockchains and L2 solutions develop together, providing more choices for developers and users.

The future of EVM chains and Ethereum will continue to evolve, aiming to address scalability and reduce costs. EVM chains will continue to adapt to Ethereum's improvements. As the Ethereum ecosystem grows, aspects such as environmental impact, governance, and how different systems work together will play a more important role. Additionally, the ability of Ethereum and EVM-compatible chains to seamlessly work together is crucial for the blockchain ecosystem to achieve efficiency and user experience without sacrificing security or decentralization.

Flipside believes that the rise of EVM is a budget-friendly alternative, energizing the competitive environment and accelerating innovation, potentially leading to the birth of new platforms and ecosystems. As the blockchain space continues to evolve, sustainability, governance, and interoperability will become increasingly important in shaping the future success of EVM chains and Ethereum. In this trend, adaptability, efficiency, and inclusivity will be the most critical aspects.

Conclusion

Ethereum and its foundational technology, EVM, are undergoing significant changes. This is a phase full of opportunities for developers, investors, and blockchain enthusiasts. With more blockchains becoming EVM-compatible and the continuous emergence of innovations on Ethereum, the expanding EVM ecosystem is opening new doors for exploration, development, and investment. Innovations like ZK-EVM make Ethereum more scalable and private, making it a better place for developing decentralized applications. Whether it's creating DeFi platforms, creating unique NFT experiences, or using new blockchain applications, EVM tools can offer endless possibilities.

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