EVM is Deterministic
An EVM-compatible smart contract always shows the same outputs for the same type of inputs, irrespective of how many times it gets executed. This is important as these chains handle large transactions from time to time.
Use EVM Chains to Establish Your Web3 Venture!
EVM-compatible blockchains are the future of the Web3 world which will be home to various futuristic applications designed to empower the end-user through decentralized networks.
What is EVM?
The Ethereum Virtual Machine (EVM) is a Turing-complete decentralized virtual machine based on the Ethereum network that processes thoughts through data processing conditions. It is part of the Ethereum mainnet that runs functions related to transaction execution and smart contract deployment. Blockchains that can work with EVM are called EVM-compatible chains. There are more than a hundred EVM-based blockchains currently working successfully in the Web3 world.
Prominent Blockchains Comprising the EVM Network
Ethereum
The blockchain that redefined the Web3 world as it is today, Ethereum has been the backbone for all EVM-based chains.
BSC Chain
Famous for its high transaction speeds at low costs, BNB Chain was one of the early adopters of the EVM chain.
Polygon
A Layer-2 solution running on Ethereum that solves the problem of scalability on the mainnet, Polygon has lower gas costs.
Tezos
Tezos is a Proof-of-Stake network that thrives on economic staking-based governance, and it avoids hard forks, unlike most blockchains.
TRON
A network that focuses on decentralized entertainment-based applications, TRON has high transaction throughput, high scalability, and uses main EVM features.
Harmony
With a finality of two seconds and solutions to the blockchain trilemma, Harmony is one of the popular EVM-based chains.
Avalanche
Using three networks to function, Avalanche is another EVM-compatible chain allowing developers to deploy permissioned (private) and permissionless (public) applications.
Shardeum
Shardeum is an EVM-based blockchain that utilizes smart contracts to ensure low gas costs without compromising the core Web3 principles.
Applications of EVM
Crucial Characteristics of EVM Chains
EVM is Isolated
All EVM smart contracts run in exclusive environments that restrict malicious code or bugs to the smart contract where they had originated without affecting the total blockchain protocol, which could result in catastrophic circumstances for all.
EVM is Terminable
EVM-based smart contracts could solve any problem given (hypothetically). But to limit the time taken for execution, the concept of gas is used as a terminating mechanism that stops smart contract operations when limits are exhausted.
EVM Economy
Through gas-based incentives, EVM-based chains run economies that can enable the functioning of all Web3 applications based on EVM-compatible chains. The system collects gas before transactions to ensure that incentives and priority executions are preserved without exceptions.
