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##  [TL；DR] 
Recently, L1 public chain Monad received a huge financing of $225 million led by Paradigm, leading the market's strong attention to the parallel EVM technology adopted by Monad.

Presently, parallel EVM can be classified into four categories, but what is truly committed to consolidating the EVM ecosystem and changing parallel capabilities from the bottom is the enhanced EVM layer1 chain. This may also be why Monad, which has recently adopted this solution, has received high investment in the venture capital market.

Parallel EVM will become the third performance optimization solution after universal Rollup L2+Dapp, modular stack+Dapp Rollup (RollAPP), and give birth to many technological innovations and large-scale applications.

## Introduction
Recently, L1 public chain Monad received a huge financing of $225 million led by Paradigm, leading the market's strong attention to the parallel EVM technology adopted in the project.

Parallel EVM aims to improve EVM performance through parallel processing to address the challenges of high-performance Layer1 chains and ensure the sustainable development of the <a href="/es/price/ethereum-eth" target="_blank" class="blog_inner_link">Ethereum</a> EVM ecosystem.

Exploring the expansion of chain performance has always been a focus of attention in the encryption market, and this article will make a preliminary exploration of this.

## Parallel EVM: The Ultimate Solution to Chain Scalability Performance?
As early as 2021, the concept of Parallel EVM had already emerged, with its core idea of supporting the simultaneous processing of multiple transactions, thereby optimizing and improving the performance and efficiency of traditional EVM.

At that time, there were already some representative practices in the industry, such as <a href="/es/price/polygon-matic" target="_blank" class="blog_inner_link">Polygon</a>'s parallel EVM based on Block STM technology, and the parallel EVM developed in collaboration with BSC and NodeReal.

By the end of 2023 and the following months, a wave of in_script_ions swept through the <a href="/es/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> ecosystem, with capital outflows and FOMO sentiment driving in_script_ions to spread across other chains rapidly. But this has also caused a series of problems. Due to the surge in the number and types of in_script_ions, many blockchain networks are facing serious performance challenges, let alone large-scale applications combined with the real world in the future.

It is in this context that a new narrative closely related to optimizing EVM performance is gradually emerging - parallel EVM.

Georgios Konstantopoulos, CTO of Paradigm, and Haseeb Qureshi, Dragonfly, mentioned parallel EVM as the key to solving performance bottlenecks when looking forward to the trend in 2024.
![](https://gimg2.gateimg.com/image/article/17140385121.jpeg)
Source: @jdkanani

There have been various optimization solutions for EVM, such as sidechains, L2, and modular <a href="/es/price/stacks-stx" target="_blank" class="blog_inner_link">Stacks</a>. However, parallel EVM allows for different independent transactions or smart contracts to be conducted simultaneously, which can significantly improve the processing speed and system throughput of EVM. Therefore, developers also favor it, and it has a high growth potential.

Taking the market value of each chain as an example for comparison, the total circulating market value of L1 and L2 has reached $752.123 billion, which is quite considerable. However, compared to this, the circulating market value of parallel blockchain is only $52.539 billion, accounting for only about 7% of the overall circulating market value, indicating its relatively small scale in the entire blockchain field.

It is worth mentioning that projects related to parallel EVM narratives have a circulating market value of $2.339 billion. Although this number is not small, it only accounts for 4% of the circulating market value of parallel blockchain, indicating that its market share is relatively small in this specific field.
![](https://gimg2.gateimg.com/image/article/17140385342.jpeg)
Source: Gryphsis Academy

Overall, although parallel blockchain and EVM narrative-related projects are developing, there is still some room for improvement in the overall market size.
 
## Four Technical Paths for Parallel EVM
Presently, there is no consensus in the industry on the implementation plan of parallel EVM, but it can be divided into four categories in terms of technology adaptation types. Of course, this classification only simplifies our understanding of the scheme, and new perspectives will emerge as technology updates and iterates.

Firstly, enhanced EVM layer1 chains such as Monad, Artela, and SEI are committed to significantly improving TPS while being highly compatible with EVM, and endowing transactions with parallel processing capabilities in simulated EVM environments.
![](https://gimg2.gateimg.com/image/article/17140385563.jpeg)
Source: MONAD

These independent parallel EVM layer1 chains have unique consensus mechanisms and technical features, but their main goal remains to be compatible and expand the EVM ecosystem. This approach can be seen as restructuring the EVM chain completely new while serving the EVM ecosystem.

Secondly, scalable layer2 EVM compatible chains, such as Eclipse and MegaETH, utilize the independent consensus and transaction preprocessing capabilities of layer2 chains to filter and process transaction status before being batch processed and sent to the main network.

This type of solution also allows for the simultaneous selection of execution layers from any other chain to ultimately determine the transaction status, achieving the abstraction and pluggable execution modularity of EVM. This flexibility allows them to select the optimal "execution layer" according to their needs, thereby achieving parallel processing capabilities.

However, although this type of solution serves EVM, it goes beyond the scope of traditional EVM frameworks.

The third type is the equivalent Alt-layer1 chain, represented by Polygon and BSC. These chains have, to some extent, achieved the parallel processing capability of EVM, but mainly through optimization at the algorithm layer, without delving into optimization at the consensus layer and storage layer.

Finally, differential non-EVM parallel chains include <a href="/es/price/aptos-apt" target="_blank" class="blog_inner_link">Aptos</a>, Sui, and Fuel, which, although not directly implementing EVM chains, are compatible with EVM environments through middleware or code parsing due to their high concurrency execution capabilities. As an Ethereum layer 2, Starknet has parallel capabilities, but compatibility with EVM still requires special mechanisms. This type of chain generally faces compatibility challenges when integrating with EVM.

These four major solutions each have their emphasis, some emphasize the flexibility of layer2, some highlight feature customization, and some aim to attract liquidity. But those who are truly committed to consolidating the EVM ecosystem and changing parallel capabilities from the bottom are the enhanced EVM layer1 chains. This may also be why Monad, which has recently adopted this solution, has received high investments in the venture capital market.
 
## Can Parallel EVM Become a New Narrative Leading the Bull Market?
Of course, we must see the competition and challenges the parallel EVM field faces. From the perspective of communication, parallel EVM is a frequently mentioned topic. Still, most project teams mainly modify and imitate the OP execution model represented by Aptos' Block STM mechanism without substantial breakthroughs for a long time, which makes it difficult to sustain popularity.

In addition, Layer 2 and second-generation blockchains such as Aptos and Sui are strong competitors. They have established mature communities and ecosystems, posing significant pressure on emerging projects. However, this also provides an opportunity for parallel EVM projects to learn and learn from, and to enhance their competitiveness through continuous innovation and optimization.

In the field of parallel EVM, although there are some technical commonalities, such as the OP parallelization model being the consensus of the L1 public chain, different projects have also demonstrated unique technical achievements. They adopt different architectural design patterns, data models, or preprocessing mechanisms to drive the continuous advancement of parallel technology.

Looking ahead, the wave of blockchain technology will drive more L1 and L2 projects to compete in parallel EVM. On this track, parallel EVM will become the third performance optimization solution after universal Rollup L2+Dapp and modular stack+Dapp Rollup (RollAPP), and will give birth to many technological innovations and popular applications.
![](https://gimg2.gateimg.com/image/article/17140385864.jpeg)
Source: Eclipse

In this context, we can foresee that Monad will stand out based on its advantages in specialized databases, developer friendliness, delayed execution consensus, and superscalar pipeline technology. In the future, similar and more eye-catching projects will emerge, and they will stand out in the competition of parallel EVM with their unique technological advantages and market strategies. These projects will bring us more innovative application cases and promote the implementation of blockchain technology in various fields.

The exploration of technology is endless, and parallel EVM, as an important part of current technological innovation, will play an increasingly important role. We look forward to seeing more outstanding projects emerge in this field and jointly create a better future for blockchain technology.



<div class="blog-details-info">
<div>Author:**Carl Y.**, Gate.io Researcher
<div>Translator:Joy Z.
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

</div>

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Will Parallel EVM Become a Catalyst for a Bull Market as Its Popularity is Gradually Increasing?