DeFi Platform Acala Launches the ‘Acala EVM’ on Polkadot

Acala launches the Acala EVM on Polkadot. This innovation enables Acala to provide Solidity, Substrate, and Web3 developers a complete full-stack (Acala+EVM+Substrate+WASM) experience seamlessly with a single wallet. Acala EVM also brings protocol composability for EVM and Substrate runtime (aka pallets) and enables developers to build and deploy DApps on Acala with tooling support.

Just like Ethereum can do things Bitcoin will never be able to do, which subsequently inspired many new innovations, Substrate and Polkadot are categorically different from Ethereum in a way that will empower many new, chain-level innovations outside of the EVM sandbox. Acala firmly believes in the power of Substrate and built the Acala EVM to optimize for Substrate’s full potential and longevity, rather than simply redeploying Ethereum on Polkadot.

Acala is an Ethereum-compatible decentralized finance (DeFi) platform built for scale, leveraging Polkadot’s multi-chain network. Although Acala is a parachain providing layer 1 infrastructure, the Acala team has also built out an entire application layer on top of the parachain. Acala’s applications are built around a stable asset (aUSD) and offer end-user applications such as borrowing, lending, synthetic asset trading, and interest-earning, all executed extremely fast with inexpensive gas fees. Developers can also leverage Acala as a platform on which to build their own applications.

by Sara Zhang

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