Evolving the Potential for DApp Developers within Ethereum: The ParaState SewUp Solution
Ethereum’s Resilience in the Crypto Space
Ethereum, the 2nd largest cryptocurrency across the world, has a well-known Achilles Heel associated with its infrastructure. Those who actively use the network know of its inordinately high gas fees due to its low throughput, and its inability to run smart contracts of high complexity which disallows innovative DApps to be injected into the Ethereum ecosystem. However, a multitude of application inventors, institutional investors, and others still choose to build on Ethereum, and because of that, Ethereum currently holds a concrete position in embodying the #1 highest Network Effect in all of cryptocurrency. The implications of this Network Effect are simple: With more users active in the ecosystem, more monetary value is available, and therefore DApp developers have the best chance at maximizing their profit margins from deploying their applications within the crypto space.
Can We Have the Best of Both Worlds?
However, what if there was a way to capitalize on the #1 Network Effect inherited by Ethereum, but run DeApps in a way that was as economical and intricate as you would otherwise see in more modern Web 3.0 blockchains? We at ParaState created the Secondstate EWasm Utility Program (SewUp) for this very inquisition; We have provided the first operational Rust SDK that’s fully compatible with the Ethereum network! While many DApp developers already realize the magnitude of evolution this SewUp creation provides for the crypto-industry as a whole, for those less acquainted with Rust, let’s take a closer look at the amenities provided for developers utilizing this programming language.
What Exactly is Rust?
First appearing nearly 11 years ago, the Rust language evolved both the input and output capabilities of all coders and developers who took the time to understand how to utilize the language. Thankfully, one central amenity associated with Rust is its intuitive application, thereby significantly reducing one’s time investment to learn the language. Alongside this, Rust has outperformed every modern programming language in regards to performance, where it is utilized for the most complex and time-sensitive applications around the globe. Rust is also considered to be one of the safest and most reliable languages to code DApps on and is actively utilized by institutional company applications like Firefox, Dropbox, and Cloudflare.
The Redemption of Ethereum’s Ecosystem
While developers have taken full advantage of the advancements derived from coding with Rust, only now with the implementation of our SewUp SDK can developers now build using Rust and seamlessly apply their creations directly into Ethereum’s network!
Learn, Create, then Apply
So, one may be asking, when can I start? Well, as we said, our SDK is fully operational, so anyone is free to start developing Web 3.0 DApps to be launched onto Ethereum. However, we would like to inform you of our upcoming event, the ParaState Hackathon. Being an amalgamation of a workshop and coding competitions, coding developers will learn from the best in our industry for acquiring the skills necessary to create Blockchain-based applications by utilizing our SDKs (one of which is SewUp).
Our mission behind the ParaState Hackathon series of events is to instill expert-level guidance into all developers who are motivated to evolve the DApp capabilities of the Ethereum ecosystem. Following this intricate training through our workshops, we will have a series of monetary rewards given out to developers who have proved their skill and motivation to enact change within Ethereum. Collectively, we expect this event to be absolutely critical to changing the landscape of Ethereum; From a space that was horrendously overpriced and simplistic in nature, to one that is economical and filled with inspiration through embodying a highly diverse suite of functional applications! These applications could include the following (but is by no means limited to):
- NFT marketplace
- Block explorer
- Decentralized exchange: an on-chain order book exchange, an exchange for automated market makers
- DEX aggregator
- Mortgage stablecoin
- Lending and derivatives market
See all the details regarding our ParaState Hackathon event in this article here; We are incredibly excited to see the ingenuity and creativity derived from those ready to learn, expertise, and build from our industry-leading SDKs that are specifically made to evolve the capabilities of Blockchain technology as a whole!
To learn more about ParaState’s underlying technology, check out ourwebsite.