Multichain: Today and tomorrow

Ethereum is only of many networks that operate Ethereum Virtual Machines (EVM).

Without going into technical details, EVM simply means that the execution layer of the smart contract platform is compatible with Ethereum dApps. In other words, while another network’s consensus algorithm might be different, the actual Solidity code can be easily ported from the mainnet to that other network.

These other networks aim to excel where Ethereum falls short:

• Faster transactions

• Greater scalability and more transactions per second

• Lower gas fees

As a result, any active Web3 user today likely operates on more than just one network. Adding new networks, bridging assets, and switching between networks is now a key part of the Web3 experience.

While today these networks typically have a general purpose, eventually some of them might grow to specialize in specific use cases. For example, Layer-2 networks based on zero-knowledge proofs can introduce new privacy-focused use cases.