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Coreum Launches WASM Smart Contract Support on the Devnet and Introduces A New Generation of Blockchains “EGB”

Coreum Launches WASM Smart Contract Support on the Devnet and Introduces A New Generation of Blockchains “EGB”

Following Coreum’s roadmap, the Sologenic Development Foundation has announced that the Devnet of the new layer-1 will be updated to support WASM Smart Contracts and gas price calculations. Along with the update, Coreum reveals the capability of its distributed ledger technology solutions for all enterprise needs.

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Introducing Enterprise Graded Blockchains (EGB), Coreum alludes to a new standard for blockchain networks specifically designed to provide essential tools and infrastructure for businesses of any size so that they are able to build, incorporate, and run decentralized applications.

In compliance with ISO 20022, some key elements EGB blockchains bring are security, scalability, efficiency and optional KYC to suit regulators’ requirements when it comes to the heavily regulated financial sectors. Furthermore, if an enterprise chooses to refrain from using the KYC feature during development, the Coreum blockchain provides entirely anonymous transactions by default.

WASM Smart Contracts – A Developer Friendly Framework

Web Assembly is a key element of Coreum’s scalability. Supporting multiple programming languages and providing a more extensive set of tools than the popular Ethereum Virtual Machine (EVM) allows developers to write smart contracts in whichever language they are most comfortable with, including Rust, C/C++, Typescript, and Kotlin.

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Moreover, by leveraging the advantages of compiled code, WASM is able to load and execute smart contracts faster, while also increasing the number of transactions processed per block.

Synergically, this update will allow projects to start building on the blockchain as the first wave of Coreum grantees has been selected. With this first wave of grants centred around DeFi protocols, wallet applications, and PR requests; we should expect these projects to launch along with the Coreum Mainnet in Q1-2023. Wave 2 applications will be opening soon and all documentation for developers is available on the Developers Hub section of the website.

On another note, it is important to consider Coreum has not performed any token sales and aims to be an entirely community-driven technology. A monthly airdrop of CORE tokens is being allocated to SOLO holders and 30% more of the total supply will be distributed to the CORE community in the future as well.

“At the present time, blockchain technology has not been adopted on a large scale by the traditional finance sectors. There is a lack of layer-1 blockchain protocols that directly address and solve financial sectors’ regulatory concerns while providing secure, fast, cost-efficient and scalable transactions. The first blockchain to solve these concerns will potentially change the game forever,” – Bob Ras (Coreum Co-Creator).

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