What is EVM and Why Does Blockchain Need It?

EVM is the heart of the modern blockchain ecosystem that enables the execution of smart contracts in a decentralized manner. Short for Ethereum Virtual Machine, EVM serves as a Turing-complete computing machine that is the technical foundation behind the operations of the second largest blockchain network in the world.

How EVM Works in Running Smart Contracts

Fundamentally, the EVM is a machine designed to execute smart contracts, which are programs that can run automatically when certain conditions are met. The process begins when a developer writes code in Solidity. After that, the code is compiled into bytecode, a format that can be understood by the EVM. This virtual machine then translates the bytecode to execute the instructions defined in the smart contract.

One of the advantages of EVM design is the presence of a protected sandbox. This segmented environment ensures that the computation process runs isolated from external influences, such as file system access or network disruptions. This ensures that code execution runs stably and securely without interference from factors outside the system.

Gas Fee Challenges and Their Impact on Developers

Despite being innovative, the EVM faces significant hurdles in its implementation. The most pressing issue is the volatile and unpredictably accurate gas fees. These operational costs fluctuate depending on the complexity of the smart contracts and the transaction volume load on the network. As a result, developers and business organizations must conduct careful and strategic pricing calculations for every operation they perform.

EVM Expansion Beyond Ethereum

The influence of EVM has grown far beyond its original Ethereum ecosystem. Alternative blockchain infrastructures such as BNB Chain, Avalanche, Fantom, and Polygon are now adopting EVM compatibility standards. This integration benefits developers by providing a familiar environment for deploying their smart contracts. Developers do not need to learn from scratch but can use the skills and tools they already master to migrate to other blockchains.

With the compatibility of EVM, the blockchain ecosystem becomes more integrated and accessible for the global developer community. This standardization accelerates the adoption of smart contracts technology across various platforms, creating synergies that benefit the entire blockchain industry.