Interview with TOP Network CTO: What can be brought to TOP after TOP completes EVM compatibility?
At present, a lot of public chains are trying to get into EVM. Can you please explain in plain language what the EVM of Ethereum is?
The narrow definition of “EVM” is Ethereum Virtual Machine, and in a broad sense, it refers to the EVM specification and Solidity language specification. “A chain that supports EVM” usually means that Solidity contracts can be deployed on the chain and executed according to the Ethereum virtual machine specification.
In fact, the external specification of Ethereum includes 3 parts:·
- Ethereum RPC API specification
- Ethereum EVM contract specification (including Solidity language specification)
- Ethereum data/Token specification
The EVM specification is only one of them, so only supporting the EVM specification does not mean that it is compatible with all Ethereum applications.
Why do so many public chains want to be compatible with the EVM Engine and EVM contracts, what can they bring to the public chains?
After several years of development, 99% of applications are based on Ethereum or Ethereum-compatible chains, especially the smart contracts are all developed in Solidity language, and a large number of wallets and DApps are also developed according to Ethereum RPC API or Web3 specifications. A consensus has been reached on the standard of blockchain application, which is to be compatible with the Ethereum specification.
For a public chain that is fully compatible with the Ethereum specification, the biggest advantage is that all applications in the Ethereum ecosystem, including the Ethereum L2 applications, can be directly and seamlessly migrated to their own public chains, which means that the developers in Ethereum and the existing applications become parts of their own ecology.
Most public chains are partially compatible, they are only compatible with the EVM Engine and Solidity contract specifications. For example, the token of BSC is BNB, while ETH is the token in the Ethereum contract code, so the contract code needs to be logically modified before being migrated to the BSC, which is not seamless migration. Some chains do not support the Ethereum RPC API specification, so the Ethereum client including the wallet cannot access them.
So many public chains are getting into the EVM and EVM contracts. What is the difference between TOP and them? What are the advantages of TOP?
Firstly, TOP is fully compatible with the Ethereum specification, which means that it is compatible with the Ethereum RPC API specification, the Ethereum EVM contract specification, the Ethereum data/Token specification; and the basic Token on our Shard#0 is ETH too so that the contracts originally running on the Ethereum chain can be directly deployed to TOP to run without modifying a single line of code. Therefore, Ethereum tools and clients (such as MetaMask), Ethereum contracts, and Ethereum developers can all seamlessly migrate to the TOP ecosystem.
Secondly, TOP connects Ethereum ERC20 Token with TOP’s native Token (TEP1 specification) and achieved the seamless integration of EVM contract and TOP base layer. On one hand, users can issue tokens in Ethereum ERC20 specification and TOP native token. On the other hand, the EVM contract can access TOP’s Native Token through the Solidity language, while TEP1 Tokens can circulate on TOP’s other shards and side chains.
Finally, TOP is an infrastructure that deeply integrates the Ethereum specification and TOP. The bottom layer of the EVM contract is supported by TOP-specific infrastructures including XBFT consensus mechanism, XP2P network, XStateStore, XBlockstore, and XSync. This brings very high TPS and real-time performance (transactions can be confirmed in seconds), and make it possible to interact with other multi-shards of TOP and get supported by the TOP sharding technology.
Note: Native Token refers to assets that are managed under the user’s own account like ETH; the corresponding ERC20 Tokens are the assets that are centrally managed by the contract for everyone. The biggest difference between the two is security. If there is a security loophole in the ERC20 contract code, all users will be affected, however, the Native Token is always independently controlled by the user’s own private key, which has a higher security level.
What new changes will be brought about after the TOP chain implements Ethereum sharding?
When TOP implements Ethereum sharding and is fully compatible with the Ethereum specification, it will bring great changes in the following aspects:
- First, a large number of applications in Ethereum will be seamlessly migrated to the TOP chain to enjoy the benefits of the TOP chain’s extremely low gas fee, high real-time performance, and high TPS. At the same time, all wallets that support Ethereum can also operate on the TOP chain, which greatly increased the number of ecological users.
- Some existing Solidity applications in the TOP system (such as Luck and Filet) will be migrated from Ethereum to the TOP chain in Q2 2022. TOP is developing other DeFi and NFT applications that can also run on the TOP chain.
- TOP will develop our own cross-chain bridge based on Ethereum sharding in Q2 2022 to open up the cross-chain channel between Ethereum and the TOP chain. In Q3 2022, we will open up the cross-chain channels between BSC, HECO, and TOP.
- TOP will build TOP’s own DEX on the Ethereum shard in Q3 2022 based on mature open-source code so that it can support the direct exchange on the TOP chain between TOP native Token (including TOP) and cross-chain Tokens.
- TOP stablecoins (USDT, USDC) can be circulated in all TOP shards, providing liquidity for Web3.0 and Metaverse businesses.