A Conversation With Alex Shevchenko & Sandi Fatic
Blockchain technology has taken the world by storm in recent years, with more and more enterprises exploring its potential for various use cases like carbon credits, tokenization of assets, and more. However, the open and public nature of blockchain networks can pose a challenge for enterprises who are used to maintaining complete control over their servers and computational resources. That’s where permissioned EVM networks come into the picture, offering the benefits of decentralization and censorship resistance while allowing businesses to maintain control. In this article, we report an edited version of the conversation between the CEO of Aurora Labs Alex Shenchenko and the CEO of Calimero Network Sandi Fatic, where they explore the importance of permissioned EVM networks for enterprises and how Aurora Cloud and Calimero can power a new era of permissioned blockchain for enterprises.
Why are permissioned EVM becoming important for enterprises?
Alex Shevchenko: “Digital enterprises today primarily rely on cloud solutions and maintain complete control over their servers, making the concept of open and public blockchains seem risky. Permissioned EVM networks like Calimero allow businesses to leverage the benefits of blockchain technology while maintaining control and reducing the risk of fraud.”
Sandi Fatic: “Enterprises are increasingly exploring blockchain technology for various use cases such as carbon credits, tokenization for real estates, bonds, etc. This is the first time in history we are seeing such a trend. However, Calimero has identified two major issues with the current permissioned space.The first problem is the huge barrier to entry for running a permissioned network. The cost of setting up and managing such a network is significantly high. In addition, one needs to manage all the upgrades of the network, which requires an expert infrastructure team. These are complex tasks that could cost thousands of dollars. To address this issue, Calimero has introduced the Calimero Console to manage the network, making the barrier to entry significantly low. This allows everyone to start a private shard and start developing at a relatively low cost, starting at $270 per month. The second problem is the interaction with other permissioned networks and public networks. If a private blockchain network never leaves the data center, it may be useful for certain use cases, but the opportunities for its use are limited. Therefore, a permissioned network that can connect to other networks opens up new opportunities. Calimero addresses this issue by allowing interaction with other permissioned networks and public networks, thereby increasing the flexibility and versatility of the blockchain network.”
How does Aurora Cloud fit into the best permissioned EVM experience?
Alex Shevchenko: “NEAR Protocol is a highly scalable technology that has been proven to be robust. It provides a great base layer for developers, but it does have its drawbacks. One of the major drawbacks is that NEAR’s native VM is not EVM compatible, which means that all the tools and smart contracts developed for the Ethereum ecosystem are not reusable on NEAR. This is where Aurora comes in.Aurora is a smart contract on top of NEAR that provides EVM compatibility. By combining NEAR’s robust base layer with Aurora’s EVM compatibility and Private shards powered by Calimero, developers can launch scalable and secure applications that are compatible with the Ethereum ecosystem.For example, let’s say a company like Revolut wants to launch its own private network with additional financial instruments for its users. This would put a heavy load on a single EVM instance. The solution is to have multiple EVM instances that can abstract the fact that different users are using different EVMs. With Aurora, developers can create smart contracts on top of private shards, which are much more efficient than launching isolated Calimero instances. One of the major advantages of Aurora is its composability. Transactions inside of Aurora can call other shards, which means that there is a joint liquidity pool. Developers can create applications that perform swaps on the aggregated liquidity of the whole ecosystem, providing a seamless and efficient experience for users.”
Sandi Fatic: “The current hype in the blockchain space revolves around Arbitrum, Optimism, and other similar chains. However, the question remains: how will they scale? Deploying an L1 on Ethereum and implementing sharding is the answer, but this process can be complicated. Fortunately, the Aurora team has thoroughly considered this issue. With the ability for each NEAR shard to run on one or multiple Aurora EVMs, we can take advantage of the contract deployed on Calimero and plug it into the Aurora Cloud, thereby gaining access to infinite scalability for both NEAR and Aurora EVMs. While NEAR is Wasm-only, Solidity still dominates the ecosystem, and it is likely to remain so in the future. To cover both bases, we offer both Wasm and Solidity with Aurora Cloud, thereby providing EVM expertise while also covering the infrastructural part.”
What industries can benefit from it the most?
Alex Shevchenko: “DLT regulations are now globally applicable and dictate specific implementation requirements to sell products in certain jurisdictions. This means that businesses are required to comply with KYC procedures and other regulations. This is why permissioned environments are important as they provide a bridge between regulations and businesses. Web3 has faced challenges in gaining mass adoption, and compliance with regulations is a key factor to overcome this obstacle. In my view, those industries that require compliance with DLT regulations are those that can benefit the most from permissioned EVM networks like Calimero and Aurora Cloud.”
Sandi Fatic: “I completely agree with Alex here, and I would just have that integration of blockchain is happening as we speak, there are already a lot of businesses that are trying it out and we believe that Calimero is well positioned to serve and attract a portion of this market.”
Calimero is currently working on making Aurora Cloud available inside its marketplace so that everyone will be able to install Aurora contracts in a few clicks and be able to manage through the Aurora Cloud dashboard. This will open up the doors to Web2 developers transitioning to Web3. To stay tuned with the latest developments of this partnership keep following us on our socials!
About Aurora
Powered by its high-performance EVM, and fully trustless Rainbow Bridge, Aurora combines an Ethereum compatible experience with the modern blockchain performance of NEAR Protocol. Aurora provides an an optimal environment for the creation of scalable, carbon-neutral, future-safe, and low-cost Web3 services, as well as the perfect tools to bring to life your Web3 initiatives. Try Aurora Cloud, our all-in-one cloud solution for enterprises, and get your Web3 journey started!
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The Best Permissioned EVM experience for Enterprises was originally published in Aurora Platform on Medium, where people are continuing the conversation by highlighting and responding to this story.