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The innovative track behind the meme craze worth billions?
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2024-11-28 22:03:01 5,564

The innovative track behind the meme craze worth billions?

Ethereum is not performing as expected, and more and more chains are introducing different virtual machines (VMs) - these are called "altVMs".

In contrast, public chains such as Solana and Sui stand out, and the rise of Meme coins is beyond expectations, demonstrating the competition and collaboration of different virtual machines (altVM) potential. In this context, what does it mean for @CatalystSystem to announce that it will be the only bridge between altVMs? ? ?

1. What is altVM? Why are they important?

We all know that the virtual machine (VM) is the core component for executing smart contracts. Ethereum’s EVM is one of the oldest and most popular virtual machines, but it’s not the only option. altVM refers to those virtual machines that run outside of the Ethereum EVM. They are usually designed as solutions optimized for specific needs.

For example, Solana, Sui and Aptos are all well-known altVMs, which provide higher speed and more capabilities than Ethereum EVM through different architectures and technologies. Scalability and even better security. The emergence of these altVMs gives developers more choices and makes on-chain application scenarios more diverse.

Although these altVMs have their own merits, how to achieve smooth asset transfer and interoperability between them is still a huge challenge. Because of this, cross-chain protocols have become a hot topic.

2. Catalyst: Create a cross-chain bridge for altVM

In order to allow users to easily span different altVM ecosystems, Catalyst came into being.

Unlike other cross-chains, the current EVM-to-EVM cross-chain problem has been solved. Catalyst is the first bridge built specifically for altVM ecosystems such as Bitcoin, SVM, TON, Move, Cosmos, etc., connecting users outside of EVM.

Catalyst's advantage lies in its rapid deployment and adaptability. It can support the emerging altVM in just a few months and quickly bring users CompleteNew cross-chain experience. Most importantly, Catalyst's design enables users to easily access other altVM ecosystems just like operating on Ethereum, greatly lowering the technical threshold for cross-chain operations.

3. CrossCats: One of the core components of Catalyst

So, how does Catalyst interact with altVM What about combined ones? That brings us to CrossCats. CrossCats is an intent-based cross-chain exchange protocol.

With CrossCats, users can transfer assets from one altVM to another, or even from traditional blockchains like Bitcoin to more modern virtual ones. on board. This cross-chain interoperability greatly improves users’ asset liquidity.

For example, suppose a user wishes to exchange his Bitcoin for a token on an altVM, CrossCats will secure this transaction through its unique protocol Can be completed smoothly, which is a more efficient and convenient cross-chain operation experience than Ethereum EVM.

4. What does it mean to users?

So, what does CrossCats mean to the average user?

On the one hand, users can transfer assets more simply, especially for the exchange between virtual machines and Bitcoin. Other cross-chain operations usually require the use of multiple tools, wallets, and cross-chain bridges, but with CrossCats, you can exchange Bitcoin for tokens on an altVM in a single environment for cross-chain trading, lending, or DeFi.

On the other hand, as CrossCats connects different altVMs, developers can deploy dapps on multiple chains. This means that users can experience more applications and services from other ecosystems, no longer limited to the Ethereum ecosystem.

CrossCats mainnet was launched on November 27, official website details:

https: //crosscats.xyz/

5. SummaryFinally, to summarize, the relationship between altVM, Catalyst and CrossCats:

altVM is to solve the limitations of EVM As they emerge, they provide more efficient solutions for specific applications.

Catalyst provides a bridge to altVM, making cross-chain operations easier.

CrossCats is a core component in the Catalyst architecture.

At present, the cross-chain between altVMs and BTC and altVMs is still relatively new. As the only connecting bridge, @CatalystSystem is relatively popular in foreign communities. Worth paying attention to.

Keywords: Bitcoin
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