EVM stands for Ethereum Virtual Machine. It is a Turing-complete virtual machine that runs on the Ethereum blockchain. The EVM is responsible for executing smart contracts, which are self-executing contracts that are stored on the blockchain.

What does EVM do in crypto?

The EVM is the core of the Ethereum blockchain. It is responsible for:

Executing smart contracts: The EVM is the only way to execute smart contracts on the Ethereum blockchain. This means that all smart contracts on Ethereum are written in a language that can be understood by the EVM.

Maintaining the state of the blockchain: The EVM is responsible for maintaining the state of the blockchain. This includes keeping track of all the balances of all the accounts on the blockchain, as well as all the transactions that have been executed.

Governing the rules of the blockchain: The EVM also governs the rules of the blockchain. This means that the EVM determines what transactions are valid and what transactions are not.

Why is EVM important in crypto?

The EVM is important in crypto because it is the foundation of the Ethereum blockchain. Without the EVM, there would be no way to execute smart contracts on Ethereum, and the blockchain would not be able to function.

Examples of EVM-compatible blockchains

There are many EVM-compatible blockchains that developers can deploy smart contracts on today, each with its own unique features. Some of the most popular EVM-compatible blockchains include:

Ethereum: The original EVM-compatible blockchain.

Binance Smart Chain (BSC): A fast and scalable EVM-compatible blockchain.

Polygon: A scalable and secure EVM-compatible blockchain.

Avalanche: A fast and secure EVM-compatible blockchain.

Optimism: A Layer 2 scaling solution for Ethereum.

Fantom: A fast and scalable EVM-compatible blockchain.

Cronos: A Layer 1 blockchain that is compatible with the Ethereum Virtual Machine.

Benefits of EVM crypto

There are a number of benefits to using EVM crypto, including:

Efficiency: EVM crypto is more efficient than traditional blockchains because it can execute smart contracts more quickly.

Scalability: EVM crypto is more scalable than traditional blockchains because it can support more transactions per second.

Security: EVM crypto is more secure than traditional blockchains because it is based on a well-tested and battle-tested platform.

Conclusion

The #EVM is a powerful tool that has the potential to revolutionize the way we interact with the blockchain. By enabling the development of smart contracts, the EVM has opened up a world of possibilities for decentralized applications. As the EVM continues to evolve, we can expect to see even more innovative and groundbreaking applications being built on top of it.

#ETH #Ethereum

Cardano blockchain is making significant strides towards becoming the largest EVM chain in the crypto industry, as announced by Milkomeda co-founder Sebastien Guillemot.

The Milkomeda protocol is set to launch a new feature next month that will enable Cardano users to access EVM contracts directly from their Cardano Wallet, a move that could instantly make Cardano one of the largest EVM chains by user count.

Furthermore, the Milkomeda protocol plans to roll out staking rewards to all EVM users, including smart contract developers, making Cardano the largest EVM chain with full staking rewards. This move is expected to attract more developers to the Cardano network, and the ADA coin could potentially become a popular choice for DApps development.

While the development is exciting news for Cardano and its users, some expressed their dissatisfaction as they view Cardano as a standalone blockchain network. Nevertheless, the Milkomeda protocol’s ability to enable Cardano users to access the Ethereum Virtual Machine (EVM) directly through the Cardano Wallet will undoubtedly provide more opportunities for developers to build DApps similar to how they are built on the Ethereum network.

Overall, Cardano’s ambition to become the top EVM chain in the crypto industry is a promising development that could propel the network’s growth and adoption in the coming months.

#Cardano #ADA #EVM #Milkomeda #azcoinnews

This article was republished from azcoinnews.com

The rise of blockchain technology has attracted significant interest from investors worldwide. Blockchain's potential to disrupt traditional and new industries makes it an attractive investment opportunity. However, with hundreds of blockchain projects and tokens on the market, it can take time to identify which ones are worth investing in.

One project that investors should keep an eye on is Beonechain. Beonechain is a revolutionary solution that addresses traditional blockchain networks' challenges, such as scalability, speed, and security. Its unique features and potential use cases make it an ideal investment opportunity.

Beonechain's key feature is its unbeatable speed in the finality process. Traditional blockchain networks can take several minutes or even hours to process transactions, resulting in user delays and frustration. Beonechain, on the other hand, provides near-instant transaction processing times, making it an ideal solution for businesses that require fast and efficient transaction processing.

The network achieves its fast transaction processing speed through a unique consensus mechanism that combines Proof of Stake (PoS) and Proof of Authority (PoA) algorithms. This consensus mechanism allows the network to process transactions quickly while maintaining high levels of security and decentralization.

Another critical feature of Beonechain is its use of sharding, a technique that enables the network to be partitioned into smaller sub-networks or shards. This technique facilitates the parallel processing of transactions, enhancing the network's speed and scalability.

Beonechain is also fully compatible with the Ethereum Virtual Machine (EVM). This compatibility enables developers to build decentralized applications (dApps) on the network using popular programming languages such as Solidity and Vyper. Beonechain's interoperability makes it a versatile and robust solution for various use cases.

In conclusion, Beonechain's unique features and potential use cases make it an ideal investment opportunity. Investors should keep an eye on its fast transaction processing speed, unique consensus mechanism, and compatibility with the EVM network. As blockchain technology continues to evolve, Beonechain is well-positioned to disrupt traditional industries and create new ones. Investing in Beonechain could be a lucrative opportunity for investors looking to capitalize on the potential of blockchain technology.

#Investing #Blockchain #Beonechain #EVM #Sharding #ConsensusMechanism #dApps #salmonation

The way #Cardano users access #Ethereum Virtual Machine (EVM) contracts is about to change thanks to a forthcoming feature on Milkomeda.

This functionality will increase the value of the network for both users and developers by enabling #ADA users to access #EVM contracts directly from any ADA wallet. Milkomeda is a network that links EVM contracts to blockchains like Cardano and Algorand, improving the interoperability of various #blockchain networks.

Sebastien Guillemot, CEO of Milkomeda, recently tweeted that staking rewards for all EVM users—including those who create smart contracts—would soon be made available. Developers and users who will be able to get incentives for their contributions to the Cardano network will benefit greatly from this development.

Additionally, this feature will enable Solidity-based dapp and decentralized finance (DeFi) applications to be created on the ADA network by Ethereum application developers. Developers won't have to download new toolkits or pick up a new language thanks to this functionality because Ethereum is coded in the Solidity programming language. This boosts the utility of Cardano tokens for holders by enabling them to be utilized with applications instead of ether.

This new Milkomeda function will revolutionize the blockchain sector. It improves blockchain network compatibility and increases the usability of the ADA network for programmers and consumers. Developers and users have a lot to look forward to with the ability to access EVM contracts directly from any Cardano wallet and receive staking incentives.

This news is republished from https://coinaquarium.io/

Blockchain technology, the backbone of cryptocurrencies like #Ethereum and #Bitcoin , operates on distinct architectural models: the Ethereum Virtual Machine (#EVM ) and the Unspent Transaction Output (#UTXO ). Understanding these models is crucial for grasping how different blockchain networks function and their implications.💡Understanding EVM:EVM is the runtime environment for Ethereum's smart contracts. It's a virtual state machine that executes smart contracts, allowing for a wide range of decentralized applications (DApps). EVM's flexibility enables developers to write in various high-level programming languages, which are then converted into bytecode understood by the machine.👍 Advantages of EVM:EVM's ability to execute complex smart contracts makes Ethereum a powerful platform for DApps. This flexibility has spurred innovation in areas like finance (DeFi) and digital art (NFTs).👎 Limitations of EVM:However, EVM faces challenges, particularly in scalability and gas fees. The computation-intensive process can lead to network congestion, increasing transaction costs and impacting performance.💡Exploring UTXO:The UTXO model, used by Bitcoin, treats transactions more like cash exchanges. Each transaction starts with unspent outputs from previous transactions and ends with new unspent outputs. These outputs are then available for future transactions, ensuring a chain of ownership.🙏 Strengths of UTXO:UTXO's primary advantage is its simplicity and enhanced security. It allows for parallel processing of transactions, contributing to network scalability and robustness against double-spending attacks.👎 Drawbacks of UTXO:However, UTXO's design is not natively conducive to complex smart contracts, limiting its use cases compared to EVM-based platforms.🧐 Comparing EVM and UTXO:While EVM emphasizes programmability and complex contract execution, UTXO focuses on transactional efficiency and security. The choice between EVM and UTXO often depends on the application's requirements: EVM for complex decentralized applications and UTXO for straightforward, secure transactions.Conclusion:Both EVM and UTXO offer unique advantages and cater to different needs in the blockchain ecosystem. As the technology evolves, understanding these architectures becomes essential for developers, investors, and enthusiasts looking to navigate the diverse world of blockchain.