What is the EVM?
DefinitionThe EVM, or Ethereum Virtual Machine, is the computing environment that runs smart contracts on Ethereum. Many other blockchains, such as BNB Smart Chain, Polygon, Arbitrum, Optimism, Base and Avalanche C-Chain, run the same machine and are called EVM-compatible.
How the EVM works
The EVM is a shared rulebook for running code: every node on an EVM network executes the same instructions, so a contract gives the same result everywhere. Each operation has a gas cost, which is what you pay in network fees and what stops a program from running forever.
Because the rules are shared, a token contract, a wallet or a tool built for Ethereum can work on any EVM network with little or no change. That is why the same token standard appears on all of them, called ERC20 on Ethereum and BEP20 on BNB Smart Chain.
One address, many networks
Your 0x address is the same on every EVM network, because it comes from the same private key. Standard wallets derive it on the path m/44'/60'/0'/0/0, so one recovery phrase gives the same address in other standard wallets too.
The networks are still separate. Each keeps its own balances and history, and tokens sent on one network only show up on that network.
What differs between EVM networks
Before you send, check these details:
- Gas coin: ETH on Ethereum, Arbitrum, Optimism and Base; BNB on BNB Smart Chain; POL on Polygon; AVAX on Avalanche
- Token contracts: the same token usually has a different contract address on each network
- Fees and speed: layer 2 networks and sidechains are usually cheaper than Ethereum itself
- Support: an exchange may accept a token on one EVM network but not on another
EVM networks in Waletifi
Waletifi supports Ethereum and six other EVM networks on one 0x address, derived on the standard path. The review screen shows the network and the fee in your currency, warns you if you hold tokens but no gas coin, and flags a token sent to its own contract address.
