What is EVM?
If you’re even a little familiar with Ethereum you’ve most likely heard about EVM (Ethereum Virtual Machine). You’re probably aware it’s a software environment that runs on the Ethereum blockchain and is mainly responsible for executing smart contracts on the Ethereum network.
The EVM operates as an isolated sandbox environment that protects smart contracts from interference by other contracts and external factors, allowing builders to write and deploy smart contracts on Ethereum. Let’s take a deep dive into EVM, how it works, and how EVM chains differ from one another.
EVM Components
If you’re not familiar with the different components of the EVM, the following is a list of the main terms you need to know, boiled down a simple explanation:
- Memory: the memory area is where data can be temporarily stored while the contract is being executed.
- Stack: used to store values and intermediate results during contract execution.
- Storage: a permanent key-value store where contract data can be stored between transactions.
- Code: the bytecode of the smart contract executed by the EVM.
- Instructions: a predefined set of operations that can be performed by the EVM.
- Accounts: EVM accounts are used to represent contracts or external actors (e.g., users or other contracts) on the Ethereum network.
EVM is an essential component of the Ethereum ecosystem and plays a crucial role in the creation and execution of smart contracts and decentralized applications. It operates on Turing-complete programming languages, enabling developers to write complex programs and algorithms. Not all blockchains utilize this software environment however, we tend to call those non-EVM blockchains.
What are Non-EVM Blockchains?
As you’d expect, a non-EVM blockchain is a blockchain that does not utilize the Ethereum Virtual Machine. Examples of platforms that have their own virtual machines include Solana, Aptos, and numerous others, each carrying its own unique features, functionalities, and limitations.
Both EVM and non-EVM blockchains have advantages and disadvantages, so choosing which one to use depends on the requirements and use cases. Generally, EVM blockchains are suitable for applications that require the execution of complex smart contracts, while non-EVM blockchains may be more suitable for simpler transaction models.
Characteristics of EVM Chains
Polygon (Matic)
Polygon was developed to combat Ethereum’s slow transaction processing speeds and limited scalability. To achieve this, it was built as a layer 2 solution on Ethereum, with transaction processing, verification, and recording happening on Polygon’s side chains. Only the final result is recorded on Ethereum to improve scalability.
The main benefit is that Polygon provides scalability and speed improvements to dApps built on the Ethereum network, thanks to its Proof-of-Stake (PoS) consensus mechanism. This allows developers to easily build and deploy dApps as they would on Ethereum, but with faster transactions and lower fees. Polygon also supports Ethereum-compatible token standards such as ERC-20 and ERC-721, making it easy for developers to port dApps from Ethereum to Polygon.
Optimism
Optimism is a layer 2 scaling solution that aims to provide a way to scale Ethereum while maintaining the security and decentralized nature of the EVM. It operates as a layer 2 on top of Ethereum, where transactions can be processed faster and with lower fees than on the Ethereum blockchain. They create an “optimistic” version of transactions that are processed on layer 2 and then sent to the Ethereum mainchain for verification.
One key advantage of Optimism is that it doesn’t sacrifice security. Since transactions are ultimately verified on the Ethereum mainchain, the security of layer 2 is backed by the same strong node network that secures Ethereum.
Optimism provides a seamless user experience, allowing developers to write and deploy smart contracts on layer 2 as if they were on the Ethereum mainchain. So it’s easy for developers to build and deploy applications that require a high transaction throughput without worrying about the limitations of Ethereum.
BSC (Binance Smart Chain)
Binance Smart Chain (BSC) is a high-performance blockchain platform based on the EVM, developed by Binance, one of the largest cryptocurrency exchanges. They aim to provide a fast and efficient platform for decentralized applications and token trading.
BSC is designed to be fully compatible with Ethereum, meaning developers can easily port Ethereum-based applications and contracts to BSC. Another key feature of BSC is its fast and efficient consensus mechanism, which enables fast and secure transaction verification. BSC uses a Delegated Proof-of-Stake (DPoS) consensus mechanism to provide high transaction throughput and low latency.
BSC is also highly scalable and can process a large number of transactions in a short period of time. This makes it suitable for decentralized applications that require high levels of transaction throughput, such as decentralized exchanges, gaming platforms, and financial applications.
Avalanche
Avalanche is a platform for decentralized finance (DeFi) and other decentralized applications based on the EVM. It is designed to address scalability, interoperability, and governance issues prevalent in existing blockchain networks. Avalanche consists of subnet networks that can each support a unique set of assets, applications, and governance rules. This means it has a high level of flexibility and customization, enabling the creation of custom blockchain networks for specific use cases.
One of Avalanche’s advantages is its high transaction throughput achieved through a consensus mechanism called Avalanche-X, which allows fast and efficient transaction validation while maintaining security. Another important feature is interoperability, which allows for smooth integration between different subnets within the Avalanche network. Applications can leverage the strengths of different subnets and enjoy easy asset exchange between subnets.
Avalanche provides a robust governance mechanism that facilitates decentralized decision-making and community-centric ecosystems. Users and developers have greater control over the platform’s development and direction, helping to maintain a decentralized and open state.
What About Luniverse?
Luniverse is Compatible with EVM
Luniverse aims to make things as easy and seamless as possible for Web3 builders, which is helped by the fact that Luniverse is compatible with EVM. Luniverse supports the same programming languages and tools builders use to develop smart contracts on Ethereum (such as Solidity) and is designed to execute EVM bytecode in a safe and distributed manner.
What’s more, Luniverse Sidechains provide high throughput and stable transaction processing to rival other Layer2 solutions. There are also options for cloud, on-premise environments, and various consensus algorithm options. Users can utilize Luniverse Sidechains to perform off-chain transactions without high transaction fees or long waiting times.
Luniverse Also Offers Various APIs
Using tools specific to each environment to understand what is happening on numerous different blockchain protocols and networks can affect the scalability and reusability of applications. Luniverse’s Multichain API is an abstracted interface that minimizes blockchain network dependencies, allowing for connectivity with various chain environments with just one integration.
Multichain Web3 API Specification
Why You Should Be Using Luniverse
Generally, in order to create a web application, a developer needs to configure a service client, server, and database. The end user communicates with the service client that can connect to the server. The server then connects to the database where application data is stored. Distributed applications (Dapps) are different from traditional web applications in terms of the backend. For dApps, the service client can connect directly to the blockchain using libraries such as ether.js or web3.js.
A blockchain consists of many nodes, which are where program code is stored, also known as smart contracts. These nodes communicate to synchronize data, so they can work as a single computer. Due to the difference in the backend, building Dapp services can be challenging. However, by using Luniverse, developers can get started right away with guides that builders can easily follow.
Luniverse provides API and GUI services for building Dapps, making the complex process much simpler for those who aren’t sure where to start. With just a few API calls and clicking a few buttons, anyone can build their own Dapp!
Try out the Testnet!
The Luniverse Testnet is a free trial service for Web3 builders, available in the Luniverse Console. You can take advantage of a 60-day free trial to upload or test your Dapp for free!
