The Development and Challenges of Parallel EVM Technology

EVM and Solidity

Smart contract development is a fundamental skill for blockchain engineers. Although high-level languages like Solidity can be used to write contract logic, the EVM cannot directly interpret this code. It needs to be compiled into low-level opcode or bytecode that can be executed by the virtual machine. There are currently tools available that can automate this conversion process, reducing the burden on developers to understand the compilation details.

Although compilation introduces some overhead, engineers familiar with low-level coding can directly use opcodes in Solidity to write program logic for maximum efficiency and reduced gas consumption. For example, the Seaport protocol extensively uses inline assembly to minimize users' gas expenses.

Differences in EVM Performance

EVM, as the "execution layer", is the final place where the operation codes of smart contracts are executed. The bytecode it defines has become an industry standard, enabling developers to efficiently deploy contracts across multiple compatible networks.

Although adhering to the EVM bytecode standard makes the virtual machine known as EVM, the specific implementations can vary significantly. For example, Ethereum's Geth client implements the EVM standard in Go, while the Ethereum Foundation's Ipsilon team maintains a C++ implementation. This diversity allows for different engineering optimizations and customizations.

Demand for Parallel Processing

In traditional blockchain systems, transactions are executed in order, similar to a single-core CPU. This simple approach, while having low system complexity, struggles to support a large user base. Shifting to multi-core parallel processing allows multiple transactions to be handled simultaneously, significantly increasing throughput.

Parallel execution brings some engineering challenges, such as handling write conflicts for concurrent transactions on the same contract. New mechanisms need to be designed to address these issues. However, parallel execution of unrelated contracts can proportionally increase processing capacity based on the number of threads.

Innovation of Parallel EVM

Parallel EVM represents a series of innovative optimizations for the blockchain execution layer. Taking Monad as an example, its key innovations include:

• Parallel transaction execution: Uses an optimistic concurrency algorithm to allow multiple transactions to be processed simultaneously.
• Delayed Execution: Postpone the execution of the transaction to an independent channel to maximize the utilization of block time.
• Custom state database: Store Merkle trees directly on SSDs to optimize state access.
• High-performance consensus mechanism: Improved HotStuff consensus, supporting synchronization of hundreds of nodes.

Technical Challenges

Parallel execution introduces potential state conflicts, requiring conflict detection before or after execution. For example, when multiple parallel transactions interact with the same liquidity pool, a careful conflict resolution mechanism is needed.

In addition to parallel processing, teams often redesign the state database to enhance read and write performance, and develop accompanying consensus algorithms.

Challenges and Considerations

The parallel EVM faces two major challenges: the possibility of Ethereum absorbing these innovations over the long term and the issue of node centralization. It is currently in the early stages, and details have not yet been fully disclosed, but they will ultimately be revealed when the testnet and mainnet are launched. Rapidly developing the ecosystem is key to maintaining a competitive advantage.

Node centralization is a common challenge for all high-performance blockchains, requiring a trade-off between decentralization, security, and performance. Lower hardware requirements help support more decentralized nodes.

The Landscape of Parallel EVM

In addition to Monad, the parallel EVM paradigm also includes projects such as Sei, MegaETH, Polygon, and Neon EVM. They can be divided into three categories:

1. Upgrade to support parallel execution of existing EVM-compatible Layer 1 networks
2. A new EVM-compatible Layer 1 network that adopts parallel execution from the very beginning.
3. Layer 2 networks using non-EVM parallel technology

Typical Projects

• Monad: A leading parallel EVM project, aiming for 10,000 TPS, has completed $244 million in financing.

• Sei: A Layer 1 network focused on trading, launched Sei V2 with parallel EVM, increasing TPS to 12,500.

• Artela: Enhances the execution layer through the EVM++ dual virtual machine, with a core team from AntChain.

• Canto: An EVM-compatible network based on the Cosmos SDK, plans to introduce parallel EVM technology.

• Neon: A parallel EVM on Solana, supporting Solidity developers to deploy to Solana with one click.

• Eclipse: Introduces the Solana Virtual Machine into Ethereum's Layer 2 solution.

• Lumio: A modular VM Layer 2 network that supports multiple high-performance virtual machines.

The development of parallel EVM technology will enhance blockchain performance, laying the foundation to support a wider range of applications and user groups. Continuous innovation in this field will shape the future direction of the blockchain ecosystem.