In the world of blockchain, the Ethereum Virtual Machine (EVM) can be regarded as a 'big brother.' As the pioneer of smart contracts, it has ushered in a prosperous era for blockchain applications. However, from a technical perspective, EVM seems to have fallen behind the times.
Let's first take a look at its shortcomings. The execution efficiency of EVM is concerning. It adopts a line-by-line interpretation execution method, where each instruction must be processed one by one, which is far slower than next-generation parallel virtual machines like Solana's Sealevel or Aptos's Move VM. These new virtual machines can greatly improve transaction processing speed through parallel processing. Moreover, EVM's single-threaded architecture limits its throughput, making it unable to meet the growing transaction demands. At the same time, although EVM's data structure is simple, it is lacking in efficiency. The overhead of accessing state is high, and smart contracts can easily encounter performance bottlenecks during complex interactions. Worse still, EVM itself lacks resource management and complex permission control functions, forcing developers to write contract logic to compensate for these shortcomings, which not only increases development complexity but also makes errors likely.
Nevertheless, EVM still occupies an unshakable position in the blockchain field. There are a large number of blockchain developers around the world who are proficient in the Solidity language, and the EVM ecosystem has the richest decentralized finance (DeFi) and non-fungible token (NFT) projects. From the perspective of development tools, tools like Metamask, Hardhat, and Foundry are all available, providing great convenience for developers. It is worth mentioning that almost all emerging blockchains are striving to be compatible with EVM, such as BNB Chain, Polygon, Arbitrum, etc. These new chains can quickly access a large developer community and a rich application ecosystem by being compatible with EVM.
EVM is like the 'TCP/IP' protocol in the blockchain field. Although its technology is not optimal, the entire blockchain infrastructure has been deeply built around it. Today, completely replacing EVM is not only costly but also extremely difficult. With its large developer network, mature ecosystem, and strong compatibility advantages, EVM still firmly holds the core position in blockchain applications.
In summary, although EVM seems somewhat outdated in terms of technological evolution, it remains a cornerstone in the blockchain field. In the future, the real change may not be to discard EVM, but to find a new model that can achieve a balance between ecosystem and performance. This new model can retain the vast ecological advantages of EVM while compensating for its performance shortcomings, thus pushing blockchain technology to new heights.
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