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However, whether and how well current WASM outperforms EVM on blockchain clients is still unknown. This article conducts the first measurement study to understand the performance on WASM VMs and EVM for executing smart contracts for blockchain-based applications. To our surprise, the current WASM VM does not provide expected satisfactory performance. The overhead introduced by WASM is really non-trivial. Our results shed the light on challenges when deploying WASM in practice, and provide insightful implications for improvement space.<\/jats:p>","DOI":"10.1145\/3641103","type":"journal-article","created":{"date-parts":[[2024,1,27]],"date-time":"2024-01-27T12:49:56Z","timestamp":1706359796000},"page":"1-24","update-policy":"https:\/\/doi.org\/10.1145\/crossmark-policy","source":"Crossref","is-referenced-by-count":3,"title":["VM Matters: A Comparison of WASM VMs and EVMs in the Performance of Blockchain Smart Contracts"],"prefix":"10.1145","volume":"9","author":[{"ORCID":"https:\/\/orcid.org\/0000-0003-3466-0165","authenticated-orcid":false,"given":"Yixuan","family":"Zhang","sequence":"first","affiliation":[{"name":"Key Laboratory of High Confidence Software Technologies (Peking University), Ministry of Education and School of Computer Science, Peking University, Beijing, China"}]},{"ORCID":"https:\/\/orcid.org\/0009-0006-6432-4209","authenticated-orcid":false,"given":"Shuyu","family":"Zheng","sequence":"additional","affiliation":[{"name":"Peking University, Beijing, China"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-1100-8633","authenticated-orcid":false,"given":"Haoyu","family":"Wang","sequence":"additional","affiliation":[{"name":"Huazhong University of Science and Technology, Wuhan, China"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-1675-5283","authenticated-orcid":false,"given":"Lei","family":"Wu","sequence":"additional","affiliation":[{"name":"Zhejiang University, Hangzhou, China"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-4686-3181","authenticated-orcid":false,"given":"Gang","family":"Huang","sequence":"additional","affiliation":[{"name":"School of Computer Science, Peking University and National Key Laboratory of Data Space Technology and System, Beijing, China"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-7908-8484","authenticated-orcid":false,"given":"Xuanzhe","family":"Liu","sequence":"additional","affiliation":[{"name":"Key Laboratory of High Confidence Software Technologies (Peking University), Ministry of Education and School of Computer Science, Peking University, Beijing, China"}]}],"member":"320","published-online":{"date-parts":[[2024,3,18]]},"reference":[{"key":"e_1_3_2_2_2","unstructured":"2016. 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