EVM Basics

What is EVM?

The Ethereum Virtual Machine (EVM) is a runtime environment for smart contracts in Ethereum. Verychain maintains full compatibility with EVM, allowing developers to deploy and run Ethereum smart contracts seamlessly.

Key Concepts

1. Smart Contracts

  • Self-executing contracts with the terms directly written into code

  • Written in Solidity or other EVM-compatible languages

  • Deployed on the blockchain and immutable once deployed

2. Gas

  • Unit of computational effort

  • Required for all operations on the network

  • Prevents infinite loops and spam

3. Accounts

  • Externally Owned Accounts (EOA)

    • Controlled by private keys

    • Can send transactions

  • Contract Accounts

    • Controlled by code

    • Can execute smart contracts

4. Transactions

  • Data packages that trigger state changes

  • Include:

    • From address

    • To address

    • Value

    • Data

    • Gas limit

    • Gas price

Development Tools

Essential Tools

  1. MetaMask: Browser wallet for interacting with dApps

  2. Remix: Online IDE for smart contract development

  3. Hardhat/Truffle/Foundry: Development frameworks

  4. Ethers/Viem: JavaScript libraries for interaction

Testing

  • Local test networks

  • Automated testing frameworks

  • Gas optimization tools

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