ParaState Newsletter August
We have had a very busy month of August for the ParaState community.
Both the company and the members that support the ParaState ecosystem have seen our influence grow in vibrant communities such as Turkey, at the same time that we have reached new alliances to strengthen our presence within the blockchain ecosystem.
Here are the highlights!
Partnership with PARSIQ
At the end of July, PARSIQ announced the endorsement in ParaState's latest private fundraising round. In addition to your endorsement, as part of the agreement, ParaState will integrate Smart Triggers and Monitoring Technology into our ecosystem.
With PARSIQ’s technology onboard, developers from the ParaState ecosystem will be able to use ParsiQL to create complete and custom queries and workflows!
The advantages of using PARSIQ's unique technology will help grow our user base within the blockchain ecosystem.
What makes ParaState unique?
One of the big questions in the blockchain ecosystem and within our broader community is what makes ParaState unique?
Now we have finally managed to compile the answer to this question in a single article available on our official site on Medium.
ParaState presents to the blockchaIn ecosystem the SSVM-Ewasm Substrate module, the first solution that allows developers to create independent blockchain networks that can implement and execute Ethereum smart contracts in the Polkadot ecosystem, to take advantage of the lowest transaction fees and high speeds inherent to this ecosystem
Click on this link to learn more about the benefits of ParaState and what allows us to differentiate as the first multi-chain platform with an integrated Ewasm and EVM solution.
Activity in the Turkish community
If something has characterized ParaState since its inception, it has been the endorsement and support of our communities, regardless of their geographical locations.
This month, we see a great advance in the activity carried out by our user community in Turkey, an important market for the blockchain ecosystem in general.
It was nice to see how our friends in Turkey have been actively involved with the ParaState
ecosystem through all of our official channels, both global and local.
Thanks to this commitment and enthusiasm, one of our most recent articles by our CEO Michael Yuan was translated into the native language of this important Middle Eastern country.
Parastate Solution for Smart Contract problems
Did you know that with ParaState, developers of decentralized applications (dApps) on Ethereum no longer have to worry about the inherent problems of scalability?
The lack of scalability due to a rigid virtual environment such as Ethereum Virtual Machine (EVM), avoids improving the execution times of smart contracts of the dapps deployed in Ethereum, consequently, many of these applications end up generating a slow, expensive and very poor performance level.
Thanks to ParaState's SSVM-Ewasm Substrate pallet, the developers of these dApps will be able to deploy their applications on our multi-chain platform fully compatible with Ethereum EVM without additional coding, which allows them to gain inefficient responses to the execution times of the smart contracts responsible for generating the necessary logic for the correct execution of these applications.
If you want to know more in depth how ParaState addresses the problem with the execution of smart contracts, visit our latest post titled “Smart Contracts Stuck? The ParaState Solution ”in our official Substack
About ParaState
Known as Ethereum on steroids, ParaState is a multi-chain smart contract platform bridging the application and developer ecosystem between Polkadot, Substrate and Ethereum, as well as other chains wanting to provide Ethereum compatibility. While supporting the EVM pallet to provide seamless compatibility with all existing Ethereum applications, ParaState also provides developers with a next-gen smart contract implementation environment, Ethereum-flavored WebAssembly. These two infrastructures are ensured to talk to each other and share the same account system on ParaState.
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