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The Stellar Development Foundation recently became a member of the Bytecode Alliance, the key group championing the progress of WebAssembly, more commonly known as Wasm. An announcement on August 21 by Tomer Weller, the foundation's product leader, brought this information to light.
Wasm is in the race against Ethereum Virtual Machine (EVM), the powerhouse backing the Ethereum system. However, Wasm isn't limited to the blockchain. It has applications in non-blockchain, specifically browser-based, functions.
The majority of blockchain networks, like Ethereum, BNB Smart Chain, Avalanche and a host of others, rely on EVM, a virtual mechanism tailored for running smart contracts. In contrast, there are networks that have chosen Wasm.
Launched in 2014 as a payment system, Stellar expanded its capabilities in 2022 with the integration of smart contracts. Stellar's choice of Wasm in April 2022 as its operational engine came after considering its merits over EVM. Despite EVM's widespread acceptance, Stellar developers highlighted its cost-intensive storage and execution facets, which they believed hindered scalability and elevated transaction costs.
Further cementing their choice of Wasm, Stellar's team felt it was apt for tough conditions akin to blockchains. Wasm's roots in browser application development solidified this belief.
Interestingly, most of Wasm's developmental strides can be credited to the Bytecode Alliance. This nonprofit consortium consists of online juggernauts like Amazon, Cisco, Intel, and Microsoft. At the time Stellar decided on Wasm, Dfinity of Internet Computer was the singular blockchain representative in the alliance.
Weller, in his announcement, said that collaborating with the Bytecode Alliance was an obvious move. He believes it provides Stellar an avenue to mold standards and resources in the Wasm developer community. He underscored Stellar's intention not only to be a representative but to champion the collective blockchain developer community. Weller is confident that Stellar's presence will steer the alliance in accommodating both blockchain and non-web applications, particularly in smart contract platforms.
