We are entering the final quarter with plans to close out the year with our most thrilling developments yet. But first, we present our stupendous achievements of the past 30 days.
ParaState is growing by leaps and bounds and we are excited to share what the company has achieved to expand our presence in the competitive world of blockchain technology with our broader community.
From new alliances to the presence of our founding team in AMA groups recognized throughout the crypto space, following we highlight some of our most remarkable achievements in this new edition of our newsletter!
Here are the highlights!
AMA With TOP 7 ICO
On August 31, Marco Chen, Co-Founder of ParaState was at an Ask-me-Anything (AMA) with TOP 7 ICO, a reputable analysis firm in the crypto and blockchain ecosystem with more than 105 thousand followers on Twitter.
In this session hosted by TOP 7 ICO, Chen discussed the benefits of ParaState technology based on the EVM-Pallet built from scratch by the company, in addition to the advantages that the project has over direct competitors such as Moonbeam, Plams and Clover, to name a few.
Marco highlighted the reasons that led him to build ParaState on Polkadot as well as why he was motivated to do so, generating positive reactions among the community of followers who were active during the AMA session with TOP 7 ICO.
If you missed the AMA and want to know more about this session, you can check out our AMA Recap with TOP 7 ICO:
Partnership With ICON Foundation
"A new EVM-compliant blockchain for the ICON ecosystem."
Thus begins the introduction of the ICON Foundation to the ParaState ecosystem. Through our most recent alliance, they will create a new Substrate-based blockchain called ICE, which will allow compatibility with EVM and eWASM through a custom sidechain. The sidechain will drive growth by bringing new capabilities to the ICON ecosystem.
(6) ParaState on Twitter: "Our new partnership with the @helloiconworld will help to achieve both EVM and eWASM compatibility through a customized and novel Substrate based side-chain⛓️ This boost in growth and potential capabilities is enormous, as we've seen with @0xPolygon etc. https://t.co/3Xpo5SfNHq" / Twitter
Through the ParaState partnership, ICON will be the first team to use the Substrate SDK to extend the feature set of an existing layer one blockchain protocol, allowing ICON to expand development opportunities within the ICON community through ParaState's natural compatibility with EVM, without the need for additional coding.
As added value to the development of ParaState, 20% of the transaction fees of the ICE network will go to ParaState for the use of its technology by ICON.
The initial proof-of-concept network is expected to be available in Q3 2021, enabling DApp developers from the ICON ecosystem to build EVM and eWASM applications before full completion.
The ParaState Twitter Community is Now 7400+ Strong
On August 19th, we reached our first 7,000 followers on Twitter! Thanks to our unique value proposition within the blockchain ecosystem and our ongoing development activity, more and more Twitter followers in the crypto space are joining our official channels.
Currently the ParaState Twitter Family has about 7,428 followers who support the ParaState team and are advocates of our philosophy of taking the compatibility of blockchain platforms with the Ethereum ecosystem to the next level!
If you have not yet joined our beautiful community on Twitter, do not forget to click here and follow us so as not to miss the latest news from the ParaState Family!
ParaState Sri Lankan Telegram Community is Now 1000+
At ParaState, we have seen constant support and endorsements from our communities, regardless of their geographic locations.
This month, we have seen a breakthrough in activity by our user community in Sri Lanka, an important market for the broader blockchain ecosystem that has gained significant momentum.
Our community in Sri Lanka has enjoyed strong organic growth in the last month increasing the number of members above a thousand followers!
At ParaState we are grateful for the commitment and enthusiasm we have received from our Sri Lankan community, which inspires us to continue working hard for its growth.
Competitive Environment of ParaState
Seven days ago we published an excellent piece on our Medium account to explain in depth how the improved functionality ParaState brings to the Ethereum network provides a temporary exclusivity within the competitive world of solutions currently developed by various companies; to improve the efficiency of DApps built on the Ethereum Virtual Machine (EVM).
“The transition for Eth going from EVM to WASM is where the distinction lies between ParaState and the other companies providing compatibility between Eth and Dot. While all other companies work towards EVM compatibility, we at ParaState have an exclusive grant from the Web3 Foundation, tasked to provide interoperability of Eth to all WASM-compatible blockchains”.
This excellent article explains how ParaState approaches the competition as an ally to "save" the current state of Ethereum, taking advantage of the technological benefits available in its pallet compatible with any blockchain that wants interoperability between chains.
Read more about this piece in the link inserted in this tweet from our official account about the post:
(6) ParaState on Twitter: "⬇️ Read this article to get an in-depth insight into ParaState's competitive environment and learn how ParaState's enhanced functionality to the #Ethereum Network provides a sort of temporal exclusiveness to it https://t.co/Qq9yyges09" / Twitter
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.