What is EVM ?
EVM (Ethereum Virtual Machine) is translated as Ethereum virtual machine, is the environment to execute the Bytecode code of smart contracts. And do not participate in the process of recording transactions on the Ethereum network. Ethereum Smart Contracts are written in Solidity programming language, so EVM will play the role of translating Code to Bytecode. Bytecode is like computer source code and in it will be stored Opcodes (Operation Code) so that the Ethereum network can directly understand and execute control commands.
For ease of visualization, the Ethereum network can be divided into two parts. One part works like Bitcoin, used specifically for transactions, asset conversion. The rest is used to code and store smart contracts, create and operate applications. Both are authenticated by Nodes.
Virtual machines work in a similar way to a physical machine with storage, memory, and CPU, but they operate entirely as code. So anyone can run a virtual machine, which makes it a highly portable platform for a decentralized network.
Ethereum Virtual Machine EVM
Ethereum is currently a leading ecosystem with thousands of large and small projects, with a total TVL of over 150 billion dollars (not counting other EVM Blockchain). At the same time, it accounts for more than 60% of the DeFi market. So the Ethereum ecosystem is an extremely fertile land and there are many other Blockchains that are currently wanting to be bridged there. Fahrenheit Chain is no exception, we see the potential that EVM brings, including:
The Ethereum ecosystem currently accounts for 65% of the DeFi ecosystem. A project with EVM compatibility will be more popular. Compatible with Ethereum, DApps can connect via bridges.
Reduce technical barriers
Dev now easily deploys the protocol by copying the smart contract to the new chain without any code. In addition, new projects have flexible, unlimited customization, so they can have a large number of users.
Increase user experience
Ethereum is the largest, most-used blockchain system. If the project is compatible with EVM, user experience will be enhanced because EVM's blockchain is similar to Ethereum.
Based on ERC20 wallets, subsequent blockchain EVMs always enhance transaction speed and scalability. This enhances the wallet's excellent user experience.
=> As a result of using EVM, consumers will not need to spend time acclimating to the new blockchain network, transactions will be assured rapidly, and products will be copied rather than being limited to a single Blockchain. Certain, the project's product will be extended to many additional EVM-compatible Blockchains. Assist in increasing influence and attracting more users.