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