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Onchain Economics

Ethereum Virtual Machine(EVM)

The computation engine that executes smart contracts on Ethereum and EVM-compatible chains.

In-Depth Explanation

The EVM is a standardized execution environment—the same contract works identically across all EVM chains. This enabled the multi-chain explosion: deploy once, copy everywhere. EVM compatibility became the dominant standard, with most L1s and L2s supporting it. Solidity compiles to EVM bytecode. Non-EVM chains (Solana, Sui) use different VMs.

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