Metering in the context of Ethereum refers to the act of calculating gas used for executing a transaction or smart contract in a deterministic way. Ewasm aims to provide a metering injector in the form of an Ewasm contract to facilitate the metering process.
After switching to Ewasm, one of the most significant changes we will see is the hike in the throughput of the network.
The network will be more efficient, and the execution time will shrink to a lot less time than before.
The issue with EVM was it was the perfect machine for an ideal world but in the real world. As stated by Lane Rettig, EVM is like a swiss knife. It has a lot of functionality, but it doesn’t use them in their best possible way.
When Ewasm combines with sharding and beacon chain, Ethereum scalability will go up.
Ewasm also aims to eliminate the need for precompilation. Precompiles are special bits of EVM bytecode. If a call is issued on a precompiles, the EVM will execute a pre-defined native code and return the results.
According to Nick Johnson, Ewasm is efficient enough at computation that most current precompiles could be eliminated and replaced with Ewasm contracts.
This will benefit Ewasm with a wider array of tooling and compilers than the EVM does.
Ewasm is set to make Ethereum as “the world’s computer” with better performances and efficiency.
It will help scale Ethereum to a new level, which might not have been possible with EVM. Though it has seen his share of criticisms.
You can read more about Ewasm here.