Ethereum EVM Compatibility
QANplatform, the Ethereum EVM compatible blockchain
💡[Definition] Ethereum EVM
The Ethereum Virtual Machine (EVM) is a computation engine that acts like a decentralized computer with millions of executable projects. It is considered to be the part of the Ethereum blockchain, which runs execution and smart contract deployment.
[Market problem]: Most of the new blockchains are not Ethereum EVM compatible
Projects currently running on the Ethereum network can only leave Ethereum at significant compromises for a more reliable, cost-predictable, cost-efficient, and secure blockchain platform alternative.
The whole blockchain ecosystem owes a lot to the Ethereum team, as Ethereum was the first smart contract platform to run decentralized applications (DApps). As the smart contract pioneer, Ethereum took a market advantage which is still held, since most blockchain projects and solutions are running on Ethereum.
90% of current enterprise blockchain platform implementations will require replacement within 18 months to remain competitive, secure, and avoid obsolescence, according to Gartner. There are signs that projects are already leaving first-generation blockchain platforms are already visible. Many projects are realising that Ethereum Layer 2 solutions are not the cure to all problems. However projects currently running on the Ethereum network could only leave Ethereum at significant compromises for a more reliable, cost-predictable, cost-efficient, and secure blockchain platform alternative.
Thanks to QANplatform’s Ethereum EVM (Ethereum Virtual Machine) compatibility, developers can write, deploy, and run smart contracts as they would on Ethereum, but on top of that they and their users can enjoy all the benefits of QANplatform, such as the Quantum-resistant security, Proof-of-Randomness (PoR) consensus mechanism, Multi-language smart contract development, Developer Royalty Fees, Low and predictable transaction costs fixed in USD — to name a few.
Key Takeaways — [Ethereum EVM Compatibility]:
- QANplatform is Ethereum EVM compatible blockchain.
- Projects currently running on the Ethereum network can move their operation to QANplatform.
- Thanks to Ethereum EVM compatibility, the QANplatform can win market share from Ethereum.