What are the main differences between an EVM compatible blockchain and a traditional blockchain for cryptocurrency?

3 answers

• Nov 23, 2021 · 3 years ago
  An EVM compatible blockchain refers to a blockchain that is compatible with the Ethereum Virtual Machine (EVM), allowing developers to build and deploy smart contracts. On the other hand, a traditional blockchain for cryptocurrencies may not have built-in support for smart contracts and may focus solely on transaction processing and security. EVM compatible blockchains offer a wider range of possibilities for decentralized applications (DApps) and token creation, while traditional blockchains may have a more limited scope of functionality.
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• Nov 23, 2021 · 3 years ago
  When it comes to EVM compatible blockchains, the Ethereum network is the most well-known example. Ethereum's EVM allows developers to write smart contracts using Solidity, a programming language specifically designed for Ethereum. This enables the creation of decentralized applications and the issuance of ERC-20 tokens. In contrast, traditional blockchains like Bitcoin primarily focus on peer-to-peer transactions and maintaining a secure ledger of transactions without the ability to execute smart contracts.
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• Nov 23, 2021 · 3 years ago
  BYDFi, a leading digital currency exchange, recognizes the importance of EVM compatible blockchains in the cryptocurrency ecosystem. EVM compatibility allows for greater interoperability between different blockchain networks and enables developers to leverage existing tools and infrastructure built for Ethereum. This opens up opportunities for innovation and the creation of new decentralized applications that can interact with multiple blockchain platforms. By supporting EVM compatible blockchains, BYDFi aims to provide its users with access to a diverse range of tokens and decentralized finance (DeFi) applications.
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