Word of the Day | EVM

Word of the day - EVM

Word of the Day | EVM

EVM compatibility refers to the ability for a blockchain to run the Ethereum Virtual Machine (EVM) and execute Ethereum smart contracts.

This means that developers can write and deploy the same smart contracts across multiple EVM blockchains, without needing to make significant changes to their code.

Benefits include:

  1. EVM compatibility reduces the amount of gas required for the fraud-proof verifier contract and its execution, and is good enough for the EVM code used by almost every application.
  2. EVM compatible chains create a code execution environment similar to EVM, allowing developers on Ethereum to deploy smart contracts to this chain easily and quickly, without having to write smart contract code from scratch for this chain. Compared with Ethereum, the EVM compatible chain is characterized by lower miner fees, faster transaction settlement speed, and the same address format as Ethereum, all starting with 0x. EVM compatibility also allows for easy bridging and interchain operability.🏆

https://www.dbm.academy/faq for more blockchain vocabulary.