I came across the term called "Ethermint" while writing one of the guide post for the Cosmos (ATOM) guide. I thought I should do more research and find out how it works.
Let's take a look at how it works.
Introduction
In this post, we will check out How does ethermint works and then we will take a look at some of the benefits of this chain. Ethermint blockchain due to it's features gets the best of both - Cosmos chain and the Ethereum. So let's start by learning about Ethermint first.
What is Ethermint?
Ethermint is an Ethereum Virtual Machine compatible, proof of stake based blockchain built on the Cosmos SDK. By making use of both Ethereum Virtual machine and Cosmos SDK through Inter Blockchain Community Protocol (IBC), it gets the benefit of the both worlds. In fact for those who want to develop for both these two chains, it's reasonable to take a look at the Etheremint blockchain.
Now that we have learned what is Ethermint, let's see how it works and what are it's benefits.
How does Ethermint Works?
Ethermint is composed of three important components. Each part contributing to it's modular structure.
- Ethereum Virtual Machine: Any token or the app developed on the top of the Ethereum virtual machine gets to make use of the Ethereum blockchain compatibility. Ethermint uses EVM to establish cross chain communication and can be used as a bridge on the blockchain.
- Cosmos SDK: Ethermint also makes use of the Cosmos SDK for building it's public proof of stake blockchain and can make use of the feature set of the cosmos core.
- Tendermint BFT: This tendermint core that makes use of the Byzantine Fault Tolerant component is also being used by the Ethermint. This in turn also forms a framework through which you can make the dApps on Ethermint.
As you can see Ethermint makes use of the Ethereum's writing and execution of smart contract like Ethereum while making use of the Tendermint Core's consensus engine.
What are the Benefits of Ethermint?
Ethermint gets the best of both Cosmos blockchain and Ethereum blockchain and so we are going to take a look at some of it's best feature sets.
- Web3 Compatibility: Ethereum has the best web3 compatibility and the same continues with the Ethermint.
- Speed: The transaction speed is pretty quick with block confirmed 1s on average.
- High throughput: Transactions don't pile up and executed lot quickly.
- Horizontal scalability: Compared to the Etherum, the TPS rate is lot better of around 200 TPS.
As you can see these are some of the benefits which make any Ethereum developer consider making use of the Ethermint for their dApps.
Conclusion
For developers who want to scale their transactions in the blockchain, they can make use of Ethermint and build their applications that can interact with both Cosmos and Ethereum blockchain. Considering Ethermint is still in continuous development you would find it worth keeping tab on for future dApps and token development.
Posted Using LeoFinance Beta