Ethereum and EVM have become the de facto standard for building decentralized applications. Developers dapps use the Ethereum virtual machine so as not to reinvent the wheel. But EVM chains often inherit the Ethereum consensus algorithm, as well as its low throughput and high transaction fees.
Creators Velas solved the problem of speed and cost of transactions: this blockchain works on Solana technologies and is compatible with the EVM. By changing just one line of code, developers can port their project to Velas. We explain how to do it.
Why transfer the project to Velas
One of the problems with Ethereum and most EVM chains is the low throughput and high transaction fees that limit users with small deposits. According to BitinfoChartsthe average transaction fee in the network of the second cryptocurrency is $11.
Developers are migrating to cheaper blockchains. For example, Tether issued USDT stablecoin on Tron and other blockchainsto expand the audience and make it more accessible to users.
How Velas works with two virtual machines at the same time
The Velas blockchain uses a hybrid Proof-of-History/Proof-of-Stake consensus algorithm. It is based on Solana technologies, thanks to which the network throughput exceeds 50,000 transactions per second (Transactions Per Second, TPS). With this TPS, transaction fees are around $0.0001.
Network nodes wrap EVM transactions in the native eBPF format and add an instruction to them to call the transpiler program. Then they collect transactions into virtual blocks, and them into separate EVM blockchain.
Also Velas nodes support standard methods Ethereum JSON-RPC API like eth_getBalance or eth_getBlockByNumber. These methods access the EVM blockchain.
For the execution of transactions, users pay fees in native VLX tokens. Such transactions reach finality after three confirmations in the native blockchain – on average after 1.2 seconds.
As a result, applications on Velas run much faster and cheaper than on other EVM blockchains.
In addition, when migrating to Velas, developers can do without a re-audit of smart contracts, because their code does not change.
How to transfer a dapp or smart contract to the Velas blockchain
To deploy a smart contract on Solidity in Velas, you only need to replace the RPC provider link with evmexplorer.velas.com/rpc.
For example, when using the Web3 library:
const web3 = new Web3(
new Web3.providers.HttpProvider(‘https://blockchain-rpc’));on the:
const web3 = new Web3(
new Web3.providers.HttpProvider(’https://evmexplorer.velas.com/rpc’));If you use hardhat or Truffle for deployment, replace in config.js:
url: "https://blockchain-rpc",
chainId: “*”,
on the:
url: "https://evmexplorer.velas.com/rpc",
chainId: 106,
To test the work of contracts in Velas, you need to insert testnet RPC.
To deploy contracts, you will need to pay transaction fees in VLX tokens. They are traded on Uniswap and centralized exchanges: Bittrex, KuCoin, Gate.io and others. The full list of spot pairs with VLX is presented on CoinMarketCap.
The Velas network can be added to the MetaMask wallet. To do this, go to network settings, click Add a network and fill in the fields:
- network name – Velas;
- RPC URL – https://evmexplorer.velas.com/rpc;
- Chain ID – 106;
- Symbol – VLX;
- Browser – https://evmexplorer.velas.com.
findings
Developers Velas found a way to speed up EVM applications by wrapping and running them in the Solana format. This solution allows you to finalize transactions within 1.2 seconds with commissions of one hundredth of a cent.
Velas’ EVM compatibility simplifies application migration. The developer only needs to replace the reference to the RPC provider in the deployment script. There is no need for costly adaptation of the code to the instructions of another virtual machine, re-testing and auditing.
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Ethereum and EVM have become the de facto standard for building decentralized applications. Developers dapps use the Ethereum virtual machine so as not to reinvent the wheel. But EVM chains often inherit the Ethereum consensus algorithm, as well as its low throughput and high transaction fees.
Creators Velas solved the problem of speed and cost of transactions: this blockchain works on Solana technologies and is compatible with the EVM. By changing just one line of code, developers can port their project to Velas. We explain how to do it.
Why transfer the project to Velas
One of the problems with Ethereum and most EVM chains is the low throughput and high transaction fees that limit users with small deposits. According to BitinfoChartsthe average transaction fee in the network of the second cryptocurrency is $11.
Developers are migrating to cheaper blockchains. For example, Tether issued USDT stablecoin on Tron and other blockchainsto expand the audience and make it more accessible to users.
How Velas works with two virtual machines at the same time
The Velas blockchain uses a hybrid Proof-of-History/Proof-of-Stake consensus algorithm. It is based on Solana technologies, thanks to which the network throughput exceeds 50,000 transactions per second (Transactions Per Second, TPS). With this TPS, transaction fees are around $0.0001.
Network nodes wrap EVM transactions in the native eBPF format and add an instruction to them to call the transpiler program. Then they collect transactions into virtual blocks, and them into separate EVM blockchain.
Also Velas nodes support standard methods Ethereum JSON-RPC API like eth_getBalance or eth_getBlockByNumber. These methods access the EVM blockchain.
For the execution of transactions, users pay fees in native VLX tokens. Such transactions reach finality after three confirmations in the native blockchain – on average after 1.2 seconds.
As a result, applications on Velas run much faster and cheaper than on other EVM blockchains.
In addition, when migrating to Velas, developers can do without a re-audit of smart contracts, because their code does not change.
How to transfer a dapp or smart contract to the Velas blockchain
To deploy a smart contract on Solidity in Velas, you only need to replace the RPC provider link with evmexplorer.velas.com/rpc.
For example, when using the Web3 library:
const web3 = new Web3(
new Web3.providers.HttpProvider(‘https://blockchain-rpc’));on the:
const web3 = new Web3(
new Web3.providers.HttpProvider(’https://evmexplorer.velas.com/rpc’));If you use hardhat or Truffle for deployment, replace in config.js:
url: "https://blockchain-rpc",
chainId: “*”,
on the:
url: "https://evmexplorer.velas.com/rpc",
chainId: 106,
To test the work of contracts in Velas, you need to insert testnet RPC.
To deploy contracts, you will need to pay transaction fees in VLX tokens. They are traded on Uniswap and centralized exchanges: Bittrex, KuCoin, Gate.io and others. The full list of spot pairs with VLX is presented on CoinMarketCap.
The Velas network can be added to the MetaMask wallet. To do this, go to network settings, click Add a network and fill in the fields:
- network name – Velas;
- RPC URL – https://evmexplorer.velas.com/rpc;
- Chain ID – 106;
- Symbol – VLX;
- Browser – https://evmexplorer.velas.com.
findings
Developers Velas found a way to speed up EVM applications by wrapping and running them in the Solana format. This solution allows you to finalize transactions within 1.2 seconds with commissions of one hundredth of a cent.
Velas’ EVM compatibility simplifies application migration. The developer only needs to replace the reference to the RPC provider in the deployment script. There is no need for costly adaptation of the code to the instructions of another virtual machine, re-testing and auditing.
Subscribe to Cryplogger news in Telegram: Cryplogger Feed – the entire news feed, Cryplogger — the most important news, infographics and opinions.
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