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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.