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Ethereum as MS-DOS of Smart Contracts

Research shows that throughput on Solana was higher than the top EVM chain by a long way.

Ethereum as MS-DOS of Smart Contracts iBase Trading.
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Research shows that throughput on Solana was higher than the top EVM chain by a long way. This led researchers to predict that layer-1 chains will outperform EVM chains in the future.

People at Dragonfly Research did a study that looked at how well six different blockchains worked. They looked at how many automated market makers (AMMs) could work on each one. Solana’s Orca decentralized exchange (DEX) was the clear winner in trades per second. Every second, it did 273.34 trades, and every 590 milliseconds, it made a new block. BNB Smart Chain wasn’t far behind, with 194.6 trades per second on PancakeSwap. Polygon, Avalanche, Celo (CELO), and Ethereum were next, with the last one coming in last.


EVM Supported a Broad Ecology

A blog post by researcher GM argued that while there was a rich ecosystem built on Ethereum Virtual Machine (EVM) compatible chains, the results showed that if you want really high performance now you have to look outside the EVM space. A now-deleted line in an earlier version of the post suggested users will eventually need to abandon the EVM.

Dragonfly Research is the report’s research arm. It displays investments in Celo, Avalanche, Cosmos, and Near. It has not invested in Solana.

GM concluded that with time, other layer-1 blockchains will surpass EVM-compatible chains. He wrote that Ethereum is the MS-DOS of smart contract operating systems. But the current era of blockchains takes us into the Windows 95 era.

EVM chains are blockchains that are compatible with Ethereum tooling. They often aid in the scalability of the Ethereum network.

Experiment’s Outcomes Blockchains Comparison

It was March 2 when the results of the experiment were made public. To compare the speed of the blockchain, it looked at how many swaps could be made on native automated market makers in each block. AMMs are decentralized exchanges like Uniswap and PancakeSwap that help people swap tokens without having to keep any of them.

In this case, Uniswap v2 was used as a benchmark because it is the most popular DEX with $1.6 billion in 7-day transactions. It took 13.2 seconds to make a new block, the report said. GM said that, even though it isn’t the best way to measure performance, it is useful for getting a complete picture.

Even though the report showed that Solana was faster, proponents of decentralization point out other problems with Solana. Solana is not a decentralized network like Ethereum, the team from the Spookyswap DEX on Fantom Opera said to Cointelegraph.

There have also been problems with service outages at Solana. People worry that their networks and apps aren’t safe, and they don’t know how well they work together. Solana can turn off, the Spookyswap team said. You don’t see that when you use proper EVM layer-1 chains, though.

GM also stated that because blockchains change rapidly, the outcomes of a new optimization may vary amongst chains. He also stated that the speed difference between Ethereum and Solana was just 25x, indicating that no one is benefiting from linear token transactions on the chain.

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Jane De Leon is a news writer covering all things related to DeFi and NFTs. In the past, she has worked for a well-known Business Newspaper. She originally began investing in Bitcoin after hearing about it from her brother and hasn’t looked back since.