In this article, we will talk a lot about EVM. To keep it as simple as we can we will not go into the technical details of how it works. But rather look at what it is and how you can use a blockchain that has one.
Put simply an EVM is the Ethereum Virtual Machine. It is the place in which all Ethereum-like blockchain accounts and smart contracts live. An EVM is what defines the rules for computing and programming on a blockchain that runs one.
The EVM Wallet
An EVM wallet then is a wallet that has the functionality to add custom blockchains. As long as it can run an EVM. This will mean you can use the same crypto address on more than one blockchain.
EVM wallets give you the simple usability of all the EVM blockchains. And make it easy for developers to deploy their smart contracts on more than one blockchain. Especially now that the world starts to look more and more multi-chain. The option to add custom EVMs to a wallet becomes more important. So users can easily switch to and from other blockchains that run it. This way they can benefit from the speed, cheap transactions, or any other features these blockchains offer.
On our website, we have listed many EVM-competible wallets like:
All these wallets have to option to manually add an EVM with their chain id, and RPC URL. So in case your favorite crypto is not yet supported you can just add it yourself.
What is an EVM crypto?
All blockchains that run an EVM on it, use a similar mechanism and coding language (Solidity) to deploy code (smart contracts) on the network. This gives these blockchains the option to easily bridge tokens to one another. But also the functionality to easily deploy smart contracts on more than one chain. Because it can be done in the same programming language.
EVM-compatible cryptocurrencies thus have the capability to join a complete multi-chain ecosystem. With bridges between chains, and some Dapps running multi-chain. This goes from Avalanche to BSC and Ethereum.
With many Dapps and crypto projects already functioning multi-chain, with things as staking contracts on Ethereum. But their Dapp, or game running on the Polygon layer 2. Which also runs an EVM.
You can find all EVM blockchain on Chainlist.org
All EVM blockchains
If you checked out Chainlist.org you must already have seen that there are many EVM blockchains. And the list keeps on growing. Many of these blockchains function in some way as a support layer for both Ethereum and Bitcoin. But with their own token. Those that do have their own token for paying transaction fees we call layer one blockchains.
The networks that do not have their own token for transaction fees like Arbitrum and Optimism, we call layer 2’s. Also known as sidechains. So far not really one of the EVM blockchains out there has found a way to move all transactions fast and cheap to their own network. All of them have their own unique approach to being the best network out there. But they do not always succeed to be that or grab all the market share. That is why a huge multi-chain ecosystem is forming between multiple EVM blockchain networks. Including layer 1’s and 2’s.
Adding an EVM to an EVM Wallet
We here at Yada already went over many of them and how you can add them to the Metamask crypto wallet. In the blogs listed below, we go over how you can add these blockchain networks to an EVM/Metamask wallet. But also go over what that specific network does and why you should add it to your wallet.
Here is a list of how to add:
- BNB Smart Chain
- Hoo Smart Chain
- Kucoin Community Chain
- Gnosis Chain
- Huobi Eco Chain
- Ethereum Classic
- Energy Web Chain
- XinFin Network
This was our article about “what is an EVM wallet?”. We hoped it made you better understand what an EVM is and why blockchains run one. Of course, we hope you find the right wallet for you that also supports the blockchain(s) that you prefer.
If you are still stuck with a question regarding EVMs or any other crypto-related question. Feel free to reach out to us on our socials. So we can help you out or answer your question in our next blog post.