A blockchain is, from social and computer science perspective, a database that is owned not by whoever runs the server, but instead follows predetermined rules set out in advance, and whose validity and integrity can be verified from scratch by any member of the public who wishes to run a full node.
The most impactful use case for this technology, and the one that has really taken off, is using the blockchain as the basis for money - the so-called cryptocurrency. However, it is also a fantastic means to store any sort of digital ownership information (e.g. equities and stocks), as well as the core building block of the so-called decentralized finance, which gives companies the ability to do business internationally and cheaply according to rules specified within the smart contracts instead of using costly lawyer and banker services.
The beauty of open source allows one to customize Ethereum and build other blockchains that can leverage the hundreds of millions of dollars invested in Ethereum tooling. This compatibility magic hides behind three letters - EVM, which stands for Ethereum Virtual Machine. It means that the code that developers write gets compiled into EVM bytecode and is then the blockchain runs EVM and executes these smart contracts. You could say that today EVM is the leading industry standard.
We are happy that we foresaw this back in 2017 when we announced that we plan to release all our products - our decentralized exchange, our dApp wallet, and our upcoming Ethereum Dapp Kit - on all EVM compatible blockchains. Currently our project is actively fundraising to bring this plan to life.
Which begs the question: what are those EVM compatible blockchains and which ones would be best suited for our products? Let's have a look at some of the top contenders and discuss their security models, transaction speed and how they differ from each other.
EVM Smart Contract Blockchain Overview
Our EVM Smart Contract blockchain overview is broken down into separate articles covering each chain in detail, articles will be linked here as they are published
- Proof of Work
1.1 Ethereum (ETH)
1.2 Ethereum Classic (ETC)
1.4 Callisto (CLO)
- Proof of Authority
2.1 POA Network (POA)
2.3 VeChain (VET)
- Other Consensus Algorithms
3.2 Cardano (ADA)
3.3 GoChain (GO)
3.4 TomoChain (TOMO)
3.5 TRON (TRX)
3.6 ThunderCore (TT)
3.7 Loom Network (LOOM)
3.8 Volume Network (VOL)
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