Fragmentation in web3 is a major obstacle in its development and mass adoption. Multiple blockchain networks, each with its protocols, standards, and ecosystems have truly hurt the potential of web3.
It has led to siloed development environments and developers have to choose between pursuing interoperability — making blockchains talk to each other — or building the same protocol or dApps on various blockchains.
Both approaches require immense time and resources, which means developers are fighting a losing battle regardless of whichever path they choose.
Enter Ethereum virtual machine (EVM) — a solution to web3’s fragmentation. EVM offers a standardized development environment across different EVM-compatible blockchains.
Now, what exactly is EVM and how does it work?
In this blog, we will help you understand EVM and its working. Most importantly, what is EVM-compatibility, and which blockchains are EVM-compatible?
What is EVM — Ethereum virtual machine?
EVM, as the name suggests, is a simulated computing environment that provides the functionality of Ethereum’s blockchain. It allows developers to write smart contracts in high-level programming languages like Solidity. The high-level code is compiled into bytecode, a lower-level, machine-readable format, making Ethereum smart contracts highly portable.
This setup ensures that the same piece of code behaves identically on any Ethereum node, maintaining consistency across the network. Further, this consistency simplifies the development process, adds security, and bootstraps cross-chain compatibility.
Features of Ethereum virtual machine (EVM)
Here are three key features that make EVM a crucial component of web3 development:
- Turing-completeness: The EVM is Turing-complete, meaning any node on the network can execute smart contracts or compute transactions.
- Consensus-agnosticism: The EVM’s computation is independent of the consensus mechanism of the network.
For instance, EVM didn’t change when Ethereum transitioned from proof of work (PoW) to proof of stake (PoS).
- Opcode: Opcodes are fundamental to the operation of the EVM. They make up the bytecode and dictate the operations that the EVM must perform.
How does the Ethereum virtual machine (EVM) work?
Here’s an outline of how the EVM works:
Solidity > Bytecode > Opcode
The translation of code from Solidity to bytecode to opcode is the focal point of EVM functioning. It bridges the code that developers write and the code that EVM understands and acts upon.
Developers use Solidity to write the logic of smart contracts in a syntax that is somewhat similar to JavaScript — making onboarding easier for web2 developers. The Solidity code is then compiled into bytecode — a low-level, machine-readable format that the EVM can understand and execute transactions — and is deployed on Ethereum.
Then, the EVM reads the bytecode and breaks it down into a series of opcodes, short for operation code. Each opcode is a specific instruction that tells the EVM what operation to perform, be it transferring Ether or calling a smart contract function.
Deterministic execution
The EVM’s opcode execution is deterministic, meaning it produces the same result on any EVM-compatible network. This consistency helps maintain consensus and integrity across these platforms and ensures that smart contracts behave predictably and reliably.
As a result, users and developers alike can trust that the dApp will function exactly as expected. Reliability of this level is a must for financial transactions, especially those that are high-value and automated.
To sum up, deterministic execution helps in maintaining consensus, ensuring security, and building user trust in the EVM.
Gas
Each operation in the EVM consumes a certain amount of gas which acts as a remuneration to the nodes and the network for facilitating the transaction. They also act as a security mechanism and prevent bad actors from spamming the network.
For developers, the aim is always to write efficient and optimized code to reduce transaction fees which attracts users. Conveniently EVM chains do have a sufficiently predictable execution cost, meaning developers can estimate the gas required for their transactions and smart contract executions.
In short, the gas system is key to the health and security of the EVM.
Benefits of EVM-compatible blockchains
EVM (Ethereum virtual machine) compatible blockchains help developers in the following ways:
- Simplified development: Developers can write smart contracts using familiar tools and languages like Solidity, reducing the learning curve.
- Portability: EVM compatibility enables the portability of smart contracts and dapps to other compatible blockchains. Code once and deploy it multiple times is the mantra.
- User base: EVM-compatible blockchains have access to a huge user base. Since these chains can run Ethereum-based dapps, they can also attract native Ethereum users.
- Interoperability: EVM-compatible blockchains can interact and exchange information and value with other compatible blockchains.
- Tooling and resources: Developers and users can use Ethereum’s existing ecosystem, including wallets, oracles, developer tools, and smart contract libraries.
About Byteprojects
Byteprojects is building infrastructure to support the future of Web3. Since 2017, we’ve worked with hundreds of developers and companies, helping scale dApps and providing high-performance access to 30+ blockchains. Subscribe to our newsletter for more content like this and stay in the loop on what’s happening in web3.
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