What is Grevm 1.0? The ‘Ultra-Fast’ Engine Powering Galxe’s Gravity Blockchain
Blockchain networks face challenges as they scale, particularly with transaction speed and costs. Galxe, a platform with over 31 million users, launched its Layer 1 Blockchain, Gravity, in August 2024 to address these issues. Gravity utilizes Grevm 1.0, an open-source parallel Ethereum Virtual Machine (EVM) runtime, enabling nearly 800,000 daily transactions. Grevm allows simultaneous execution of transactions, reducing bottlenecks during high demand. The technology is based on BlockSTM and incorporates Asynchronous I/O for improved performance. Grevm can be up to 4.13 times faster than sequential execution and 50.84 times faster in high latency scenarios. The native utility token, G, facilitates transactions and governance within the network. Grevm 2.0 is expected in early Q1 2025, enhancing transaction processing efficiency and introducing finer-grained concurrency.
