Stellar has joined the Bytecode Alliance, a group focused on developing WebAssembly (Wasm) as an alternative computation engine for smart contracts. Wasm is a competitor to the Ethereum Virtual Machine (EVM) and is used in both blockchain and non-blockchain applications. Stellar chose Wasm over EVM due to its scalability and cost-effectiveness. By joining the Bytecode Alliance, Stellar aims to influence standards and tooling within the Wasm development community, advocating for the needs of blockchain developers. This move further demonstrates the growing adoption of Wasm in the Web3 world, with other networks like Polkadot and Internet Computer also utilizing it.
