- Within the quickly developing field of blockchain technology, the spread of networks—both Ethereum Virtual Machine (EVM) compliant and non-EVM platforms—has brought to light notable shortcomings in terms of user experience, namely with regard to the management and utilization of assets across several chains.
- The main cause of this is “application fragmentation,” which is a common problem in the Web3 ecosystem.
Traditionally, developers have used an expensive and time-consuming method of deploying apps individually on each network. For instance, on a new EVM chain, forking code that started on Ethereum accounts for more than 90% of the application development effort.
As a result, there is a fragmentation of liquidity and development efforts are exacerbated by isolated operating environments that impede smooth communication between blockchains.
Skate has revolutionized blockchain application interactions by introducing a revolutionary architectural framework.
The CEO of Skate, Siddharth Lalwani, highlights the platform’s capacity for transformation: Skate-integrated programs can run on all chains with a single deployment; this includes EVM applications that can deploy on non-EVM networks with ease, something that has not been possible in the past.
Future Web3 interoperability is being made possible by this unparalleled connectedness. Skate’s method, known as the “Universal Application Scope,” keeps the application state constant throughout all linked chains.
The “state” of an application is made up of user information, operational data, and current settings, all of which control how the application behaves at any given time. Through universal state management, Skate guarantees a consistent user experience throughout thousands of chains.
The utilization of “intents,” or user-requested transactions, is a key component of Skate’s architecture. Executors—participants in the network—acquire these intents fast and use the best possible trade paths to fulfill requests.
The method dramatically speeds up transactions by cutting down on the expenses and latency of cross-chain interactions. Renowned Web3 companies including EigenLayer, Polygon, Manta, Axelar, and Pendle have shown a great deal of support for this solution.
Their support demonstrates a high level of trust in Skate’s strategy for resolving a significant industry obstacle. Skate’s solution is inclusive, as Lalwani observes, noting that “EVM developers can now effortlessly deploy on any non-EVM network.”
This feature opens the door to a multichain ecosystem that is quite unified. The recent testnet launch by Skate Network, which has drawn over 500,000 unique wallets, has increased the excitement surrounding their new platform.
Every chain may concentrate on developing services with additional value and laying the foundation for a future that is flexible and interoperable. Apps that interact with Skate have what’s called the Universal Application Scope, which allows them to function on all chains with a single state.
The fact that EVM apps will be able to run on both EVM and non-EVM chains, such as Ethereum and Solana, is also interesting. Deploying on networks with disparate tech stacks has been a persistent difficulty for Web3 developers.
However, Skate’s ability to separate assets from an application’s logic allows for a global shared state, greatly simplifying the developer experience.
By doing this, they may communicate with users across thousands of chains while maintaining the unity of application logic and state and allowing assets to stay on their original chains. This kind of integration effectively satisfies the fundamental requirements of users and builders, allowing each chain to create value-added services and facilitate a modular future.
The rationale is that Skate leverages a global application state for efficiency by allowing users from supported chains to sign intents, while maintaining the state and logic of any application on Skate. By the end of Q2 2024, the mainnet is anticipated to be operational, offering improved functionality and efficiency due to the quicker finalization of real-time application executions.
Regarding plans for the future, Lalwani made a comment We intend to introduce this technology to practically every aspect of Web3, including gaming and NFTs, while beginning with DeFi.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
