Hyperweb Releases White Paper for JavaScript Virtual Machine in Web3
Hyperweb, a Cosmos-based project, aims to enhance blockchain adoption by focusing on JavaScript. It introduced its white paper at Cosmoverse Dubai and is backed by notable figures like Ethan Buchman.
Key points include:
- Creation of a universal JavaScript Virtual Machine (HVM) for cross-chain smart contract execution.
- Unlike Agoric, Hyperweb targets a pure TypeScript ecosystem.
- The developer experience in Web3 is described as complex and fragmented.
- HVM allows developers to write smart contracts in TypeScript, simplifying the learning process compared to Solidity or Rust.
- The project will function as its own sovereign chain, facilitating easier application deployment across various blockchains.
- Hyperweb is exploring a proof-of-authority model to address issues with traditional staking inflation.
- Fees will be in Noble USDC, with the native token serving as a revenue-sharing mechanism.
- A public testnet will launch soon, rewarding builders for contributions.
Hyperweb seeks to unify Web2 and Web3, potentially attracting significant contributions from major tech firms.