Explore how WebAssembly enables hot-upgradable, fully configurable blockchain runtimes in this 53-minute conference talk from Rust Cologne. Delve into the capabilities of WASM beyond web applications, focusing on its implementation in Substrate, the Rust blockchain framework powering Polkadot. Learn about abstract block structures, runtime versioning, consensus mechanisms, and future developments in blockchain technology. Discover practical applications, monetization strategies, and licensing considerations for blockchain projects. Gain insights into the innovative use of Rust and WebAssembly in creating efficient, adaptable blockchain solutions that run at near-native speeds.