Ethereum on Steroids
Write Ethereum-compatible smart contracts in popular programming languages, & run them much faster, on Substrate. A decentralized open source business model funded by developer treasuries on participating blockchains.Check out our Github
What is Parastate?
Large developer community
Performance on steroids
Substrate-based blockchains, such as Polkadot parachains, already enjoy much higher TPS (transactions per second) than Ethereum. For a smart contract platform, compute performance is more important than TPS throughput. ParaChain utilizes the SSVM, recognized by IEEE Software as the fastest software execution sandbox, to execute smart contracts.
Substrate + Ethereum
ParaState provides a smart contract virtual machine (VM) for all Substrate-based blockchains. ParaState’s Pallet SSVM is a leading implementation of Ethereum flavored WebAssembly (Ewasm). By installing the Pallet, any Substrate blockchain can become Ethereum-compatible while taking full advantage of the modern WebAssembly ecosystem. The Pallet SSVM development is partially funded by a grant from the Web3 Foundation, and the team consists of Substrate Ambassadors.
A Scalable Framework
A scalable high performance framework for all Ethereum compatible networks.
A token backed by developer treasuries
ParaState pioneers an innovative model for sustainable and decentralized open source software development. All Substrate blockchains that utilize the Pallet SSVM agree to collect a percentage of gas on all Ewasm transactions, and contribute it to a developer treasury managed by the ParaState foundation. The STATE token from ParaState is “backed by” a basket of native parachain tokens contributed to the developer treasure as ParaState gains developer adoption and use.