Crypto market stirs again: Parallel SVM challenges Parallel EVM?
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Crypto market stirs again: Parallel SVM challenges Parallel EVM?
Parallel execution was initially primarily focused on addressing Ethereum's transaction performance and efficiency issues.
Navigating Web3 tides with focused insightsAuthor: Bitpush Asher Zhang
In March this year, news that "Eclipse, a Solana EVM solution, raised $30 million" sparked dissatisfaction from Sei founder Jay, who questioned excessive hype and doubted the feasibility of actual ecosystem development. This comment triggered further discussion among Eclipse founder Neel Somani, Fantom founder AC, and others, bringing the "parallel EVM" narrative into the community spotlight. With recent hot project ZEUS launching, the parallel narrative has undergone new shifts. So, what exactly is parallel EVM? What are the latest developments in the parallel narrative? And how will blockchain's parallel narrative evolve in the future?
What is Parallel EVM?
Although the concept of "parallel EVM" has previously gained some traction in the community, it hasn't truly become a widely recognized or clearly understood technology. So, what exactly is parallel EVM, and why does it matter?
"Parallel EVM" can be seen as a technological fusion of "parallel processing + EVM compatibility," representing an optimization of the execution layer in existing EVM networks. It essentially involves targeted performance improvements across various components of the EVM to increase the number of transactions (TPS) or computational tasks processed per unit of time, addressing the inefficiency caused by sequential transaction execution in traditional EVMs. Parallel EVM aims to partition or group pending transactions and use scheduling algorithms to effectively manage their concurrent processing, ultimately allowing multiple independent transactions to execute simultaneously, thereby improving overall Layer 1 network execution efficiency.
Parallel execution in blockchain refers to processing unrelated transactions at the same time—such as separating on-chain transactions into categories like DEX, NFT, and GameFi—so they can be executed independently and concurrently. This means different transactions can run simultaneously across separate processing units instead of being queued sequentially, greatly enhancing efficiency. High-performance blockchains like Solana’s SVM and Aptos’ STM adopt similar parallel execution logic.
The necessity of parallel EVM (Ethereum Virtual Machine) stems from its ability to significantly boost blockchain network performance and efficiency. Traditional EVM processes transactions sequentially, which consumes substantial energy and places heavy burdens on network validators. This approach often results in high transaction costs and low efficiency, considered a major barrier to widespread blockchain adoption. Parallel EVM revolutionizes the consensus process by enabling multiple operations to execute simultaneously. The capability for parallel execution dramatically increases network throughput, thus enhancing the overall performance and scalability of the blockchain.
What Technical Innovations Does ZEUS, the Leader in Parallel SVM, Bring?
At its core, parallel EVM primarily leverages parallelization to significantly improve blockchain network performance and efficiency. From this perspective, ZEUS’s technology is fundamentally similar. However, ZEUS specifically aims to connect Solana and Bitcoin via an open communication layer. Strictly speaking, ZEUS differs from parallel EVM, but in essence falls under the broader parallel narrative—using SVM to enhance Bitcoin network performance and efficiency. So, how does ZEUS technically enable parallel communication between Bitcoin and Solana?
Zeus Network consists of Zeus nodes and the Solana Virtual Machine (SVM). Zeus nodes include functionalities for peer-to-peer communication, signing, broadcasting, validator registration, and a dual-purpose registry service operable both on-chain and off-chain. The Zeus communication mechanism enables nodes to exchange information, synchronize states, and execute transactions without relying on centralized intermediaries, supporting decentralization and efficient operation. When an individual user wishes to become a Zeus validator, they must run a node and hold a private key for signing. In Zeus Network, the validation process follows a decentralized, permissionless group model, meaning anyone can become a validator without restrictions from specific institutions. However, becoming a validator requires staking SOL or LSD-SOL. Zeus encourages users to use LSD-SOL, enabling them to earn staking rewards through PoS. SVM plays a critical role in Zeus Network by providing peer-to-peer communication services and state-related program elements.
Zeus Consensus is the core of Zeus Network. Within Zeus Consensus, Bitcoin and Solana transactions are first serialized and systematically stored in a hypervisor, giving validators a centralized starting point to access and verify transactions. Validators in Zeus Consensus focus solely on verification, not participating in on-chain transaction processing. To further enhance efficiency, Zeus Consensus implements a threshold signature scheme. For Bitcoin, this involves Taproot and Schnorr signatures; for Solana, it uses the Ed25519 signature algorithm. Signatures are aggregated off-chain and then broadcasted to Solana. Off-chain signature aggregation improves broadcast efficiency without compromising security.
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How Will Parallel SVM Impact the Ethereum Ecosystem?
Parallel EVM has long been regarded by many as a crucial technology to save Ethereum, and the market holds great expectations for the parallel narrative. 0x Taker, co-founder of Aori, stated: "Parallelization offers a method to minimize state contention through native fee market experimentation." JD, former founder of Polygon, predicted that in 2024, every L2 will rebrand itself with the label "parallel EVM."
Reforge Research even published a bold article stating: Only parallel EVM can save Ethereum. The emergence of parallel EVM marks a pivotal turning point in blockchain evolution. By enabling simultaneous transaction execution and optimized state access, parallel EVM opens a new era of possibilities for decentralized applications. From the revival of programmable CLOBs to the emergence of more complex and higher-performance apps, parallel EVM lays the foundation for a unified and user-friendly blockchain ecosystem. It has the potential to reshape the landscape of dApps and user experience. By addressing long-standing scalability and performance bottlenecks that have hindered growth in key verticals like DeFi, parallel EVM paves the way for a future where sophisticated, high-throughput applications can thrive without sacrificing the "trilemma."
MT Capital released a research report stating that developing parallel EVM is seen as a critical step toward overcoming fundamental blockchain scalability limitations. These innovations are expected to prepare blockchain networks for future demands, positioning them as cornerstones of the next-generation Web3 infrastructure. While parallel EVM offers immense potential, successful implementation requires overcoming complex technical challenges and ensuring broad ecosystem adoption.
However, with the emergence of ZEUS, the parallel narrative is undergoing real transformation. From a capital flow perspective, crypto markets continue shifting funds toward the Bitcoin ecosystem. After the surge in Ethereum Layer 2 activity, Bitcoin Layer 2 projects are now gaining momentum and attracting market attention. According to Defillama data, Merlin saw a 6,254% increase in fund inflows over the past month. Additionally, other well-known Bitcoin Layer 2 projects have also drawn significant market interest. By connecting Solana and Bitcoin through an open communication layer, ZEUS is effectively extending the parallel EVM narrative into the Bitcoin ecosystem.
Conclusion
Originally focused on solving Ethereum’s transaction performance and efficiency issues, the parallel narrative is now expanding into the Bitcoin ecosystem alongside its growth. Angel investors behind Zeus Network include Solana co-founder Anatoly Yakovenko and Stacks co-founder Muneeb Ali. In the future, ZEUS may unlock a new parallel narrative for the Bitcoin ecosystem. Nevertheless, in comparison, Ethereum’s parallel EVM narrative still holds strong potential to achieve breakthroughs first.
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