As someone new or aspiring to work in the Web3 ecosystem, you should understand the term EVM before you start looking for job offers since we are talking about transactions here.
First of all, EVM stands for 'Ethereum Virtual Machine', it allows the execution of Smart Contracts on the Ethereum network... It has been part of Ethereum from the beginning, but a few years later, other developers understood its potential and that it could be used to build DApps, becoming a major advancement that ensures interoperability between compatible Blockchains. For example, its adoption by the Binance Smart Chain in 2020 allowed PancakeSwap to use the same setup as Uniswap for its development... Today it’s like a way of life, and to coexist among themselves and further enhance the user experience, a large portion of Blockchains have adopted it.
Why the adoption of EVM by other Blockchains?
===> Developers will no longer have to rewrite tons of lines of code. Just copy and paste with a small modification and it's done.
===> Users want to keep their trusted wallet and have the ability to switch from one network to another like in the case of Metamask or Trust Wallet.
Without taking a thousand paths, let's see how it really works.
For example, let's take Trust Wallet, if you want to receive BNB or a BEP-20 Token, you can copy the ERC-20 address of the wallet and send BEP-20 Tokens to it without fearing for your funds since it's the same address; that's EVM compatibility.
So the next time you see that you are asked for your EVM address to link to an account or to receive a payment, you can copy your ERC-20, BEP-20, Optimism, Avalanche address... well, we won't list them all, but that's about it.
💡 A little exercise: Go to your Trust Wallet, and check the addresses of the aforementioned networks to get an overview.
🤔 And what about other Blockchains like Solana that do not support the EVM, is interoperability dead for them?
We will talk about it in the next content.