Figment Announces Support for Vara Network

Figment

Published

September 15, 2023

We are excited to announce support for Gear Protocol and Vara Network. Gear Protocol is a substrate-based smart-contract platform that enables anyone to develop and run a dApp in a matter of minutes. Gear Protocol is using WebAssembly as a virtual machine that allows to implement smart contracts without complexity.

Key Features: Gear Protocol

• Actor Model to enhance scalability and efficiency. In this model, each program operates as an independent “actor,” capable of processing and sending messages asynchronously according to its own logic. This design allows for parallel processing, meaning that multiple tasks can be handled concurrently.
• Persistent memory, ensuring that data remains accessible even in the face of network interruptions or failures. In a blockchain context, this means that crucial data, such as the state of smart contracts, can be preserved securely. This feature enhances reliability and resilience in the event of unexpected issues, ultimately contributing to a more robust and dependable blockchain network.

The first network launching on Gear Protocol is Vara, which champions simplified blockchain development. Vara network will become an environment for developers to craft problem-solving dApps and where anyone can deploy dApps onto Vara network with minimal blockchain knowledge.

Key Features: Vara Network

• Robust operation and scalability, thanks to Gear Protocol tech stack.
• Vara implements sharding, which divides the network into smaller “shards,” allowing for increased network scalability as it grows.
• Smart contracts on Vara are fueled by Substrate’s framework.
• Gas reservation is a mechanism in Vara network that allows users to allocate a certain amount of computational gas for their transactions in advance. This is particularly useful for ensuring that important transactions are processed promptly, as the reserved gas prioritizes their execution.
• The ability to delay messages enables users to schedule and execute actions at specified times in the future. This feature is valuable for various use cases, such as executing smart contracts or transactions at specific moments, which can be particularly advantageous for activities like decentralized finance (DeFi) or time-sensitive operations.

“Increasing developer adoption is paramount to the continued growth and usage of blockchain technology. By leveraging WASM smart contracts, Vara network removes typical blockchain barriers to entry for developers by offering a more familiar Web 2 building experience.” Clayton Menzel, Director of Protocol Strategy at Figment

About Vara Network

Vara Network is a Layer 1 Substrate-based network, leveraging WebAssembly for straightforward smart contract development. Vara, the first project built on the top of the Gear Protocol, which streamlines blockchain development with features like sharding, gas reservation, and delayed messages. It simplifies development with ingenious memory virtualization techniques like Lazy Pages for faster, cost-effective program execution by accessing only requested memory pages, reducing complexity and optimizing performance. Vara’s mission is to fasten the developer adoption in Web3 world. Discover more about Vara at vara-network.io.

About Figment

Figment is the leading provider of staking infrastructure. Figment provides the complete staking solution for over 1500 institutional clients, including asset managers, exchanges, wallets, foundations, custodians, and large token holders, to earn rewards on their digital assets.

The information herein is being provided to you for general informational purposes only. It is not intended to be, nor should it be relied upon as, legal, business, tax or investment advice. Figment undertakes no obligation to update the information herein.