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What is EVM

EVM (Ethereum Virtual Machine) is the abbreviation of "Ethereum Virtual Machine". It is the heart of the Ethereum network and the core responsible for the deployment and execution of smart contracts. EVM is to Ethereum what CPU is to computers.

Currently, 80% of the TOP 10 public chains are compatible with EVM. Even heterogeneous public chains like Terra and Solana are doing EVM compatible solutions and Ethereum account systems (NEAR’s Aurora,Solanathe Neon,Polkadot secondary title

Why do you want to be EVM compatible?

For developers, the EVM-compatible chain creates an EVM-like code execution environment, allowing developers on Ethereum to easily and quickly deploy smart contracts to this chain without having to write from scratch for this chain The code of the smart contract. For users, the advantages of EVM-compatible chains include lower gas fees, fast settlement speed, and the same address format as Ethereum, making the operating environment more friendly.

from

fromThe market volume of each public chain in Footprint AnalyticsIn terms of distribution data, although Ethereum is still the leader in the public chain track, in the past six months, the Market Share of the Ethereum chain has dropped from 72.87% to 61%, and the absolute value exceeds 10%. It can be seen that the emerging public chain is developing rapidly and is constantly dividing up the market of the Ethereum chain.

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What is the difference between EVM and non-EVM?

The current Top 10 public chains are compatible with EVM. fromPublic chain TVLimage description

Footprint Analytics: TVL of each public chain

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from

fromFootprint Analytics public chain projectimage description

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Ecological project type: non-EVM compatible is more innovative

EVM compatible chainAvalanche on TVLHighest AAVE, Arbitrum chain highest TVL projectCurveimage description

Footprint Analytics: TVL distribution on Avalanche

Projects on non-EVM compatible chains are more innovative, such asSolana Chain Top 10 Projectsimage description

Footprint Analytics: TVL Distribution on Solana

EVM compatible

EVM compatible

• Advantages: Strong scalability, easy to migrate Ethereum ecological projects; it is easier for projects to acquire users.

• Disadvantages: Limited by the rules of Ethereum and EVM, the innovation is poor.

Not EVM compatible

• Advantages: More differentiated innovative applications can be produced; user migration costs are high, and there are more opportunities to establish ecological barriers.

• Disadvantages: There are barriers to entry for developers, and the cost and difficulty of migrating projects and users on other chains is high.

EVM or non-EVM?

Whether EVM is compatible is the first condition for evaluating the public chain platform, which determines the next step in the evaluation of the development direction of the public chain.

Although the EVM-compatible public chain can quickly acquire customers and grow in the early stage by virtue of the advantages of Ethereum, it needs to compete with many public chains in the Ethereum ecosystem. In terms of user experience, developer friendliness, and ecological incentives, you must have a certain strength to break out of the encirclement.

Non-EVM-compatible public chains are easier to capture new hotspots in DeFi where new ideas are constantly emerging.NFT，GameFi, Payment is an area where heterogeneous public chains are deployed. With its application scenarios, innovation can also succeed in the DeFi market.

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About Footprint Analytics:

Footprint Analytics is a one-stop visual blockchain data analysis platform. Footprint assisted in solving the problem of data cleaning and integration on the chain, allowing users to enjoy the zero-threshold blockchain data analysis experience for free. Provide more than a thousand tabulation templates and a drag-and-drop drawing experience, anyone can create their own personalized data chart within 10 seconds, easily gain insight into the data on the chain, and understand the story behind the data.

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The above content is only a personal opinion, for reference and communication only, and does not constitute investment advice. If there are obvious understanding or data errors, feedback is welcome.

Copyright Notice:

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