🧲Why Application-specific blockchain?

One development paradigm in the blockchain world today is that of virtual-machine blockchains like Ethereum, where development generally revolves around building decentralized applications on top of an existing blockchain as a set of smart contracts. While smart contracts can be very good for some use cases like single-use applications (e.g. ICOs), they often fall short for building complex decentralized platforms. More generally, smart contracts can be limiting in terms of flexibility, sovereignty and performance.

Application-specific blockchains offer a radically different development paradigm than virtual-machine blockchains. An application-specific blockchain is a blockchain customized to operate a single application: developers have all the freedom to make the design decisions required for the application to run optimally. They can also provide better sovereignty, security and performance.

Ulas is committed to building a social reciprocal network in the Web3 world, which cannot be separated from the support of blockchain technology. However, social is a high-frequency transaction scene, and the existing EVM system general public chains are difficult to meet the high-frequency demand of transactions, and there is competition for block resources with other Dapp on the chain, so we did not choose Polygon, BSC and other public chains.

After considering the cost overhead of transactions, the confirmation speed of blocks, the convenience of cross-chain, the maturity and openness of technology, and the future development trend, we finally chose Cosmos ecology and became a member of its universe to build the ULAS social application chain.