Building a Ethereum Compatible L2 EVM of the Future

zkEVM implementation and future development

The Ethereum Virtual Machine (EVM) has revolutionized the blockchain space by enabling decentralized applications (dApps) and smart contracts. However, traditional EVMs face significant limitations, including scalability challenges, privacy concerns, and high gas fees. Hyper Chain is a next-generation blockchain solution that addresses these limitations through the use of zero-knowledge proofs (ZKPs). This whitepaper explores the scalability and privacy challenges of traditional EVMs and outlines how Hyper Chain aims to overcome them using ZKPs.

1. Scalability Challenges Scalability is a significant challenge for traditional EVMs. As the number of transactions and dApps on the Ethereum network increases, the network can become congested, resulting in slow transaction times and high gas fees. This scalability challenge limits the potential for widespread adoption of blockchain technology and hampers its scalability for mass adoption. Furthermore, Hyper Chain enables transactions to achieve high scalability by reducing the amount of data that needs to be processed on-chain. With ZKPs, only the proof of the validity of a transaction or smart contract execution needs to be stored and verified on-chain, instead of the entire transaction data or computation details. This significantly reduces the data storage and processing requirements on-chain, leading to improved scalability and faster transaction times.

1. Decentralization Challenges Decentralization is a key principle of blockchain technology, but traditional EVMs face challenges in achieving true decentralization. As the Ethereum network grows, it becomes more challenging for individual participants to fully participate in the consensus process and have an equal say in the network's governance. This can result in centralization of power and decision-making, which goes against the core principles of blockchain technology. Hyper Chain also addresses decentralization challenges through the use of ZKPs. ZKPs allow for the elimination of trusted intermediaries in transactions and smart contracts, as the proof of validity can be verified without revealing the actual data or computation details. This ensures that all participants in the network have an equal opportunity to participate in the consensus process and have a say in the network's governance, promoting a more decentralized blockchain ecosystem.

1. High Gas Fees High gas fees are another limitation of traditional EVMs. Users need to pay gas fees to perform transactions and execute smart contracts on the Ethereum network. However, the rising demand for block space and limited block capacity can drive up gas fees, making transactions and smart contract interactions expensive, especially during peak times. This high cost of gas fees can deter users from utilizing blockchain technology, particularly for small transactions or applications with limited budgets. Hyper Chain aims to make transactions and smart contract interactions more affordable by leveraging Hyper Chain's Layer 2 solution. With reduced data storage and processing requirements on-chain, the gas fees associated with transactions become lower.