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Stellar partners with Bytecode Alliance to collaborate on the development of Wasm as an alternative to EVM

Stellar partners with Bytecode Alliance to collaborate on the development of Wasm as an alternative to EVM

Stellar has joined the Bytecode Alliance, an industry group focused on the development of WebAssembly (Wasm), as announced by the foundation’s product lead, Tomer Weller. Wasm is an alternative computation engine used for running smart contracts and competes with the Ethereum Virtual Machine (EVM) used by the Ethereum ecosystem. Stellar made the decision to implement Wasm as its computation engine in April 2022, citing scalability and cost-efficiency advantages over EVM. By joining the Bytecode Alliance, Stellar aims to shape the future and development of Wasm for blockchain developers and advocate for the needs of the entire blockchain community. This move highlights the increasing adoption and importance of Wasm in the Web3 world, challenging the dominance of EVM.

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