Understanding Artela: Introducing EVM++, a highly scalable parallel EVM Layer1
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Understanding Artela: Introducing EVM++, a highly scalable parallel EVM Layer1
Artela recently announced the launch of EVM++ development, marking a comprehensive upgrade to its execution layer.
Navigating Web3 tides with focused insightsAuthor: Rain Sleeping in the Rain
The recent surge in $SEI has given the market a compelling reason to pay attention to and favor the parallel EVM narrative. Actions from the capital markets further reflect their strong focus on this narrative—Monad, which has already reached a $300 million valuation and raised $19 million, recently initiated talks for another funding round exceeding $200 million led by Paradigm.
Beyond $SEI and Monad, under the opportunity presented by the parallel EVM narrative, I’m keeping an eye on two other parallel EVM projects:
1. Canto: An old favorite, a low-valuation Layer 1; I’ve already taken a position;
2. Artela;
I won’t spend much time introducing Canto, as most readers are likely already familiar. Instead, I’ll focus on Artela, this new public blockchain.
On March 13, Artela announced the development of EVM++, marking a comprehensive upgrade to its execution layer.
What is EVM++?
Over the past year, Artela built a highly extensible EVM+ chain by integrating the WASM virtual machine. Now, Artela aims to maintain high extensibility while introducing parallel EVM capabilities to achieve scalability—this upgraded architecture is what we now refer to as EVM++.
EVM+ represents high extensibility, while EVM++ stands for both high extensibility and high performance. The official terminology uses "extensibility" and "scalability"—though both relate to scalability, they carry distinct meanings: extensibility resembles territorial expansion, enabling the seamless integration of diverse infrastructure and applications such as AI, DePIN, omnichain gaming, and smart inscriptions; scalability ensures that applications built on it can achieve mass adoption.
Artela’s parallel EVM features three core characteristics: Parallel Execution, Elastic Computing (high performance), and Elastic Block Space (low fees).
Team Background
A Chinese team, Artela’s founder and CEO Jerry Li previously worked at AntChain, Mobike, and Apple China. Other co-founders also come from top tech firms such as Ant Group and Tencent.
Funding
In July 2023, Artela completed a $6.15 million seed round led by Shima Capital, with participation from A&T Capital, Big Brain Holdings, SevenX Ventures, Dispersion Capital, Amino Capital, and others.
Lastly, here are brief updates on Sei and Monad:
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On March 13, Sei announced the development of a parallel stack, aiming to promote parallel EVM as a universal framework for modular blockchains—similar to what Op Stack did earlier.
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On March 14, Monad launched its Devnet internal testnet, achieving 10,000 real TPS on EVM.
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