Understanding Ethereum Virtual Machine (EVM)
The Ethereum Virtual Machine (EVM) is an integral component of the Ethereum ecosystem that enables the execution of smart contracts. Created as a runtime environment for running Ethereum-based smart contracts, EVM provides uniform standards to ensure interoperability between smart contracts and developers.
EVM runs smart contract code in bytecode format produced by programming language compilers such as Solidity.
Mekanism Ethereum Virtual Machine (EVM)
The Ethereum Virtual Machine (EVM) operates using two main types of consensus, namely Proof-of-Work (PoW) and Proof-of-Stake (PoS). PoW requires mining to verify transactions and add them to the blockchain, while PoS requires stakers to deposit a certain amount of cryptocurrency as collateral for the right to validate blocks.
EVM ensures that each transaction is executed correctly and provides appropriate output through the gas concept, which allows users to pay transaction fees according to the complexity and resources required.
Ethereum Virtual Machine (EVM) Function
The Ethereum Virtual Machine (EVM) functions as a universal execution engine that allows smart contracts to interact with each other and communicate with the Ethereum network. The main functions include:
- Executing Smart Contracts: The Ethereum Virtual Machine (EVM) can run smart contract code written in various programming languages that can be compiled into bytecode.
- Gas Handling: EVM uses gas as a cost metric to execute operations and ensure transactions do not overload the network.
- Validating Transactions: EVM validates transactions by ensuring that every operation executed by a smart contract complies with established rules and standards.
Polygon Plans to Convert Ethereum Virtual Machine (EVM) to Validium with Type 1 Prover
Polygon Labs has introduced “type 1 prover,” a technology aimed at enabling Ethereum Virtual Machine (EVM)-compatible blockchains to adopt zero-knowledge proofs.
The prover is planned to be part of Polygon's software stack, providing the ability to generate zero-knowledge proofs without the need for hard forks or adjustments to existing clients.
Difference between Ethereum Virtual Machine (EVM) and Type 1 Prover
The main difference between the Ethereum Virtual Machine (EVM) and Type 1 Prover lies in the use of zero-knowledge proofs. EVM functions as a smart contract execution engine, while Type 1 Prover is aimed at facilitating the transition of the EVM blockchain to validium by leveraging zero-knowledge proofs.
Advantages of Validium compared to ZK-Rollups
Validium, which creates efficiencies and lower transaction costs, stores only zero-knowledge proofs on the Ethereum mainnet, with the actual transaction data stored off-chain. This is different from ZK-Rollups, which must also publish proof of application data on the Ethereum mainnet.
Conclusion
The conversion of the Ethereum Virtual Machine (EVM) to validium using Type 1 Prover promises advances in efficiency and transaction costs. By adopting zero-knowledge proofs, these provers are expected to enable a smooth transition without requiring significant changes to existing infrastructure.
This creates new opportunities for developers and blockchain projects in the Polygon ecosystem, bringing the concept of validium as a leading solution for improving the performance and efficiency of Ethereum-based smart contracts.
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Read More:
What is a Blockchain Network? Basic Cryptocurrency Knowledge!
Multi-Party Computation as-a-Service: Data Privacy Solutions in the Blockchain Ecosystem
DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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