[PRESS RELEASE – Tortola, British Virgin Islands, June 5th, 2024]
Nibiru EVM execution boasts blazing-fast transaction speeds, scalability, and seamless integration for Ethereum developers, positioning Nibiru to drive mainstream adoption and innovation in Web3.
Overcoming Ethereum’s Scalability Hurdles
Nibiru Chain, a pioneering smart contract ecosystem, introduces Nibiru EVM, a high-performance Ethereum Virtual Machine (EVM) execution environment, showcased in its latest v2 release.
Nibiru plans to scale beyond Ethereum’s current infrastructure, which is limited to approximately 20 transactions per second (TPS) and results in high fees during periods of congestion. These constraints hinder developers from building performance-intensive applications similar to the ones seen in Web2. Nibiru EVM surpasses these limitations by offering throughput exceeding 10,000 TPS even with just single-threaded execution.
To take the scaling and performance a step further, Nibiru plans to upgrade the network to process transactions with parallel optimistic execution, which is “targeted for release before the end of 2024,” according to Co-Founder of Nibiru, Unique Divine. This approach allows nodes to utilize extra hardware resources, pushing the boundaries on the network’s transaction handling capabilities.
Fueling Ecosystem Expansion and Enhanced Developer Experience
“Compatibility with Ethereum is a key driver for attracting liquidity and promoting ecosystem growth on Nibiru EVM. Launching a blockchain protocol is about building trust and showcasing real-world utility. Innovating and improving the EVM is a key part of our strategy,” explains Unique.
With Ethereum developers accounting for applications that make up over 90% of the total value locked (TVL) across smart contract ecosystems, Nibiru EVM significantly lowers barriers to entry and accelerates development timelines.
Nibiru EVM empowers developers with a robust, user-friendly environment that enables seamless interaction between Ethereum-based tokens and applications across multiple virtual machines. This multi-VM approach ensures fast transaction processing and a streamlined user experience.
Ethereum developers are able to deploy applications in a familiar EVM environment, reducing barriers to entry and accelerating development timelines, whilst also reaping the benefits of parallel optimistic execution and instant finality.
Nibiru in Early Innings
Since its mainnet launch in March 2024, Nibiru has supported Wasm (Web Assembly) smart contracts written in the Rust programming language. The introduction of Nibiru EVM promises developers an EVM-compatible execution environment that is both highly performant and scalable. Positioned to play a crucial role in the future of decentralized applications, Nibiru is driving innovation and setting the stage for mainstream adoption.
About Nibiru
Users can stay up-to-date on the latest news or engage with Nibiru by visiting the Community Hub. Users can find the official web application and information on user guides, block explorers, and upcoming governance and improvement proposals.
Nibiru aims to be the most developer-friendly and user-friendly smart contract ecosystem, leading the charge toward mainstream Web3 adoption by innovating at each layer of the stack: dApp development, infra, consensus, a comprehensive dev toolkit, and value accrual.
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