This should happen in 2023 not for Polkadot to become yet another EVM Chain but to set the stage for Polkadot 2.0 turning into a “map reduce” computer in 2024.
@rphmeier argues for this on technical grounds of synchronous composability here, arguing that EVERY chain, even app-chains, should have smart contracts:
@joe echoes this here for AssetHub:
When I read the above “asynchronous” + “synchronous”, I am thinking this:
- asynchronous = slow, multi-block cross-chain messages, done within mouse speeds in Polkadot’s XCM and slothy speeds outside Polkadot
- synchronous = fast, single block, done with elephant sized parachains in Polkadot and mouse-sized EVM Contracts everywhere else
but in Polkadot 2.0’s “Map Reduce”/Collect-Refine-Join-Accumulate architecture, we will have a very different way of working through synchronous + asynchronous composability. This will take center stage in 2024 and I want to see the prereqs addressed in 2023.
There will be TREMENDOUS resistance in the ecosystem to the idea of bringing in EVM + WASM Contracts to the Polkadot + Kusama + … chains:
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[cultural tribalism]: People in the Polkadot ecosystem have been trained to think of EVM Contracts as stodgy old technology like DOS’s C:> coming straight from @gavofyork. It IS stodgy old technology, but it is also VERY widely known that EVM smart contract development (and WASM=ink! smart contract development) is “mouse-sized” relative to “elephant-sized” parachains (analogy from @darkfriend77). Everyone knows Solidity/EVM as easier to learn, way cheaper to deploy and use, and has a 100x larger community. Coreplay promises to change this, but it will take most of 2024 for this to come to fruition.
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[engineering concerns]: Engineers who see Moonbeam suffering from storage bloat from XEN probably see EVM Contracts in Polkadot/Kusama/AssetHub/BridgeHub as like giving Polkadot long COVID! Whatever medicine Moonbeam is taking for this parametrically, all system chains should get vaccinated from storage bloat. 10% for EVM Contracts + 20% WASM Contracts = 30% (in weight), seems like a a good conservative start.
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[business channel conflict concern]: Moonbeam, Astar and others will cite channel conflict ala “hey, smart contracts were our job!” just as they did concerning an AssetHub Asset Conversion Pallet. Both @rphmeier and @joe have very good economic predictions about what will happen. Read their comments above.
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[new revenue]: Polkadot’s DA is very likely to be a diamond in the rough, just waiting to be used for OP Stack, StarkNet and other L2 tech that use EVM Contracts like this one to manage deposits/withdrawal to+from Ethereum. Again, there is systemic cultural tribalism against EVM everything in Polkadot (cf this =)) – this systemic tribalism has to be overcome by recognizing that if this underutilized DA can be made demonstrably economically and technically superior, this is a large robust source of KSM=>DOT demand that can easily dwarf Coreplay/CoreJam experimentation in 2024, and might even solve the lack of incoming revenue for Kusama Treasury and lack of revenue growth in Polkadot. By having 10% of Polkadot/Kusama blockspace allocated to EVM L2 chains just like Moonbeam we can have new KSM=>DOT demand and solidly beat EIP-4844. Tribal arrogance would then be replaced with market cap increases.
I believe if Kusama + AssetHub on Kusama + BridgeHub on Kusama start incorporating this and overcome the cultural and engineering concerns, parachains may follow in 2024. With some luck, the map reduce computer can use these parachains as a “Polkadot 2.0 shard” and earn fees rather than spin around minting empty blockspace serving less than 1000 DAUs. If any parachains app chain functionality actually takes off to exceed some threshold of blockspace usage, every parachain’s governance could just adjust parameters accordingly to deemphasize generic EVM+WASM Contract functionality. Similarly, if Bulk Coretime Credits sales and Instantaneous Coretime Credits do not stimulate sufficient demand, DA-based revenue on Polkadot from EVM L2 tech can supplant shortfall.
Concretely, I would like to suggest that both EVM + WASM Contract functionality be deployed in Winter 2024/Spring 2024 on { Kusama, AssetHub on Kusama, BridgeHub on Kusama } and that Polkadot Fellows review this idea closely here, and it be a topic on a Monthly Live Fellowship Call.