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evm

How did we develop a decentralized index​

The Cosmos SDK is the world's most popular framework for building application-specific blockchains. The default consensus engine available within the Cosmos SDK is CometBFT, which is widely used across the industry and is considered the gold standard consensus engine for building Proof-of-Stake systems. As an open-source tool, the Cosmos SDK is designed to make it easy to build blockchains using composable modules. As the ecosystem of open-source Cosmos SDK modules grows, it will become increasingly easier to build complex decentralized platforms with it. Most importantly, the Cosmos SDK has already been used to build numerous application-specific blockchains that are already in production, including Cosmos Hub, Binance Chain, and Terra, among others.

Why do we need EVM ?​

EVM is short for "Ethereum Virtual Machine", which is capable of executing the code of smart contracts and ensuring that all nodes execute the code in the same way. The use of EVM enables the Ethereum blockchain to support smart contracts and implement decentralized applications (DApps).

The EVM benefits from a thriving ecosystem, including powerful tools, wallets, explorers, a wide variety of assets, and savvy users. When Cosmos was still in its early stages, it greatly benefited from this existing prosperity, provided that it was shared. It became evident that we, the collective behind Evmos, needed to develop an EVM stack on Cosmos that would onboard the existing EVM community while highlighting the advantages of Cosmos through cross-chain interoperability.

Glitter is a new decentralized index project that currently uses the Cosmos framework for blockchain development. However, Web3 is still in its early stages and there is no unified protocol yet. Different blockchains cannot easily connect their accounts and information, and each blockchain has its ecosystem. ETH is currently the most successful ecosystem in the Web3 world, and its protocol and EVM engine have almost become industry standards. For example, it is easy to create tokens with ERC20, and MetaMask can be used to connect to any EVM-compatible blockchain asset.

Integrate the EVM engine​

We are excited to announce Glitter has integrated the Evmos engine, which makes it easy for Glitter to integrate with the ETH ecosystem. MetaMask wallet can also be used for login and transfer. In the future, Glitter's economic model will introduce Data Tokens associated with datasets, and these features will require the basic capabilities of EVM. This way, all EVM end-users can easily manage relevant assets on Glitter and provide a great convenience for users.

The Glitter EVM runs Geth and is fully EVM-compatible. This means that building on Glitter's execution layer is just like building on Ethereum in that developers can:

  • Connect with the same wallets.
  • Deploy the same smart contract source code.
  • Use the same tooling and more.

However, there are some differences between Glitter and EVM at the execution layer. Glitter has a block time of 6 seconds, while the EVM has a block time of around 12 seconds. Additionally, Glitter uses the gas model of EIP-1559, which has some different parameters from the EVM.

As for the implementation of native tokens, EVM addresses and Glitter addresses can be converted back and forth, and assets can flow between Glitter and EVM addresses in Glitter-Chain. Asset addresses can also be transferred between each other using MetaMask.

Gas Fees​

To submit transactions on the Glitter Chain network, users are required to pay fees. As fees are handled differently on Ethereum and Cosmos, it is important to understand how the Glitter Chain implements an Ethereum-type fee calculation that is compatible with the Cosmos SDK.

The gas fee on the Glitter Chain involves the distribution of the benefits of the economic system, which is still under discussion. Therefore, the specific implementation plan of the gas fee will be announced later. Currently, the gas fee is mainly used to protect the nodes and the test network from spam transactions.

For engine transactions, the fee logic of Cosmos can be used, where fees = gas * gas-prices, and gas-prices can be set to 1AGLI, where 1GLI=10^18AGLI. Gas can be obtained by simulating the transaction. For more details, please refer to the Cosmos document