Understanding the Difference between EVM Compatibility and EVM Equivalency

Ethereum Virtual Machine (EVM) compatibility and EVM equivalency are two concepts that relate to the interaction between different blockchain networks that run on the EVM. Simply put, EVM compatibility refers to the ability of one network to interact with another network, while EVM equivalency refers to the ability of a network to replicate the behavior of another network.

This article will delve into both concepts in more detail and explain their differences. Before we dive info their differences, lets better understand these two concepts.

EVM Compatibility

EVM (Ethereum Virtual Machine) compatibility refers to the ability of two different blockchain networks that run on the EVM to interact with each other. If two networks are EVM-compatible, a smart contract deployed on one network can seamlessly interact with a smart contract deployed on the other network. An example would be if a user wants to transfer tokens from the Ethereum network to the Binance Smart Chain network, the user can do so by using a bridge that connects the two networks. The bridge essentially allows for the transfer of assets between the two networks and ensures that the assets are transferred in a secure and decentralized manner.

To achieve EVM compatibility, networks must adhere to certain standards and protocols that define how they interact with each other. The most widely used standard is the Ethereum Request for Comment (ERC) series. This includes a set of rules and guidelines for building smart contracts on the Ethereum network. Just FYI, there are other standards such as the Binance Smart Chain Token Standard (BEP) that are specific to individual networks and define how smart contracts are built and interact on those networks.

EVM Equivalency

EVM equivalency refers to the ability of a network to replicate the behavior of another network that runs on the EVM. This means that if two networks are EVM-equivalent, a smart contract deployed on one network should produce the same output as a smart contract deployed on the other network given the same input. This means the behavior of the two smart contracts should be identical.

The Difference between EVM Compatibility and EVM Equivalency

• EVM compatibility refers to the ability of two different blockchain networks that run on the EVM to interact with each other, while EVM equivalency refers to the ability of one network to replicate the behavior of another network that runs on the EVM.
• Achieving EVM compatibility requires networks to adhere to certain standards and protocols that define how they interact with each other, while achieving EVM equivalency requires networks to replicate the underlying architecture and code of the EVM.
• EVM compatibility allows for the easy transfer of assets and data between different networks, while EVM equivalency ensures that the behavior of smart contracts deployed on different networks is identical.
• EVM compatibility can be achieved by using bridges that connect different networks and enable the transfer of assets and data between them, while EVM equivalency can be achieved by forking the Ethereum network and creating a new network that replicates the code and architecture of the Ethereum network or by using cross-chain bridging. This method would introduce new challenges since for those who have been following the development of the web3 industry in 2022, you would probably be aware of the multiple hacks related to cross-chain bridges and if you aren’t feel free to google and you’ll find plenty of funds lost due to them.
• EVM compatibility is essential for the growth and development of blockchain ecosystems, as it allows for the easy transfer of assets and data between different networks and enables developers to build dApps that can run on multiple networks, while EVM equivalency is essential for ensuring the security and reliability of smart contracts deployed on different networks.
• Achieving EVM compatibility is less challenging than achieving EVM equivalency, as it only requires networks to adhere to certain standards and protocols, while achieving EVM equivalency requires networks to replicate the underlying architecture and code of the EVM. On the other hand, achieving EVM equivalency can be challenging because it requires networks to ensure that their implementation of the EVM is correct and that it produces the same results as the EVM used by the Ethereum network.

Understanding the differences between EVM compatibility and EVM equivalency is crucial for anyone interested in the development and adoption of blockchain technology. Both concepts are essential for the interoperability and adoption of blockchain technology, and it is important to have a clear understanding of their differences in order to make informed decisions when building and using blockchain applications.