What is Grevm?
Grevm is an open-source, parallel Ethereum Virtual Machine (EVM) runtime that is the technological core of Gravity, a blockchain platform designed by Galxe to cater to the needs of its 31 million-strong user base. Grevm is capable of processing almost 800,000 daily transactions, making it one of the fastest current open-source parallel EVM implementations.
How Does Grevm Work?
Grevm uses an algorithm inspired by BlockSTM, a type of parallel execution engine, to run its smart contracts. BlockSTM was developed by a team of researchers from Aptos, Mystem Labs, UCL, Chainlink Labs, and MIT in 2022. The algorithm is based on Software Transactional Memory (STM), an academic approach in computer science.
Galxe’s team enhanced BlockSTM using data derived from its simulation results. Grevm also uses Asynchronous I/O in its algorithm, a design feature that enables programs to do other tasks while waiting for input or output tasks to finish, rather than pausing and waiting.
What Makes Grevm Special?
Galxe’s benchmark testing indicates that Grevm is the fastest current open-source parallel EVM implementation to date. For transactions that are fully parallelizable, Galxe claims that Grevm can be 4.13× faster than sequential execution, running at up to 26.50 gigagas/s. When Galxe simulated a high latency environment of 100 μs, it was found to run 50.84x faster than sequential execution, with 6.80 gigagas/s throughput.
Who’s Building on Grevm and Gravity?
Several projects are already building on Grevm and Gravity, including:
- Galxe Quest: A platform for building and engaging Web3 communities, with over 6,500 other Web3 projects using it to provide users with freebies like loyalty points and complementary NFTs.
- Galxe Passport: A digital identity product that allows users to securely store their identity information and use it across hundreds of supported applications.
- Galxe Score: Evaluates users based on their on-chain activities, project participation, and overall engagement in the Web3 community, providing a comprehensive view of their presence and reputation.
- Symbiosis: A cross-chain automated market maker (AMM) and decentralized exchange that has integrated Gravity into its platform, allowing users to bridge assets between Gravity and over 35 blockchain networks.
What is Gravity’s G Token?
The Gravity blockchain uses G as its native utility token, following a token migration from GAL in July. G is used to pay for gas fees on the network and to make payments on apps like Galxe Quest, Galxe Passport, and Galxe Score. G also grants users a variety of opportunities to participate in deciding the future of the Gravity network.
Where Can You Buy Gravity’s G Token?
G can be purchased via major exchanges such as Binance, OKX, Upbit, and KuCoin. It’s also traded on decentralized exchanges (DEXs) such as Uniswap. On Binance, you can buy G directly using USD; other exchanges offer trading pairs with Tether (USDT), USD Coin (USDC), Wrapped BNB (WBNB), or Wrapped Ethereum (WETH).
What Does the Future Hold for Grevm?
Grevm’s successor, Grevm 2.0, is pegged for release in early Q1 2025. The second iteration of Grevm will focus on refining parallel transaction processing to increase efficiency and precision. With continued testing and enhancements, Galxe expects that Grevm 2.0 will enable faster, more scalable solutions within Gravity’s ecosystem.
Conclusion
Grevm is a groundbreaking innovation in the blockchain space, providing a faster and more scalable solution for processing transactions. With its parallel execution engine and Asynchronous I/O, Grevm is poised to revolutionize the way we think about blockchain scalability. As Grevm 2.0 approaches, it will be exciting to see how this technology continues to evolve and shape the future of Web3.
FAQs
Q: What is Grevm?
A: Grevm is an open-source, parallel Ethereum Virtual Machine (EVM) runtime that is the technological core of Gravity.
Q: How does Grevm work?
A: Grevm uses an algorithm inspired by BlockSTM to run its smart contracts, and also uses Asynchronous I/O in its algorithm.
Q: What makes Grevm special?
A: Galxe’s benchmark testing indicates that Grevm is the fastest current open-source parallel EVM implementation to date, with speeds up to 26.50 gigagas/s.
Q: Who’s building on Grevm and Gravity?
A: Several projects are already building on Grevm and Gravity, including Galxe Quest, Galxe Passport, Galxe Score, and Symbiosis.
Q: What is Gravity’s G token?
A: G is the native utility token of the Gravity blockchain, used for gas fees, payments, and governance.
Q: Where can you buy Gravity’s G token?
A: G can be purchased via major exchanges such as Binance, OKX, Upbit, and KuCoin, and traded on decentralized exchanges like Uniswap.
