What does EVM-compatible mean in the context of cryptocurrency?

3 answers

• May 01, 2022 · 3 years ago
  Being EVM-compatible in the context of cryptocurrency means that a blockchain or smart contract platform is able to run applications that are originally built for the Ethereum Virtual Machine (EVM). This compatibility allows developers to easily port their existing Ethereum-based applications to the EVM-compatible blockchain without major modifications. It provides interoperability and allows for the seamless transfer of smart contracts and tokens between different EVM-compatible platforms. This is beneficial for developers as it saves time and effort in rewriting or retesting their applications for different blockchains.
  629

  315
• May 01, 2022 · 3 years ago
  EVM-compatible in the context of cryptocurrency simply means that a blockchain or smart contract platform is able to support the same programming languages and execute the same bytecode as the Ethereum blockchain. This compatibility enables developers to deploy and run Ethereum-based applications on the EVM-compatible platform. It ensures that the smart contracts and tokens created on the Ethereum blockchain can also be utilized on the EVM-compatible blockchain. This interoperability is important for the growth and adoption of decentralized applications as it allows for the seamless integration of different platforms and expands the potential user base.
  661

  221
• May 01, 2022 · 3 years ago
  BYDFi, as an EVM-compatible decentralized exchange, is designed to support Ethereum-based tokens and smart contracts. Being EVM-compatible means that BYDFi can provide a familiar environment for Ethereum developers and users. It allows them to trade their tokens and interact with smart contracts on the BYDFi platform without the need for additional modifications. This compatibility ensures that the existing Ethereum ecosystem can seamlessly extend its reach to BYDFi, providing more liquidity and opportunities for token holders and traders.
  545

  137