EVM
The Ethereum Network operates using automated Smart Contracts that are coded in the Ethereum Virtual Machine (EVM). The EVM is a global processor which allows for the deployment and execution of code on the network, operating by performing specific functions when certain conditions are met. Smart Contracts have their advantages including the speed of execution, lack of human error or bias, and lower fees without the need for intermediaries.
The EVM allows for developers to create Smart Contracts and Decentralized Applications (Dapps) in a programming language called Solidity. What makes the EVM remarkable is that it can be used by other Blockchains. So instead of developing an entirely new way of implementing Smart Contracts, competitors can copy and paste the work done by the Ethereum developers. This allows for the EVM to be used and compatible with different Cryptocurrency projects. Thus, increasing collaboration between Layer 1 blockchains in the crypto space, and making the environment more interoperable.
Here are a list of Blockchains that use the EVM:
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