RE: LeoThread 2025-06-06 16:27

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Introduction to EVM

The Ethereum Virtual Machine (EVM) is a runtime environment for smart contracts on the Ethereum network. It allows developers to execute code on the blockchain, enabling the creation of decentralized applications (dApps).

Key Features

  • Executes smart contracts: The EVM runs smart contract code, ensuring that it is executed in a predictable and consistent manner.
  • Sandbox environment: The EVM provides a sandboxed environment, isolating smart contracts from each other and the underlying system.
  • Turing-complete: The EVM is Turing-complete, meaning it can execute any computation that can be performed by a Turing machine.
  • Gas-based execution: The EVM uses a gas system to measure the computational effort required to execute smart contracts, preventing denial-of-service attacks.

Importance of EVM

The EVM is a crucial component of the Ethereum network, enabling the creation of complex smart contracts and decentralized applications. It provides a secure and predictable environment for executing code on the blockchain.

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What did adding smart contracts to Ethereum do to change how blockchain networks operate and what can be offered?

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Impact of Smart Contracts

Smart contracts on Ethereum enabled:

  • Automated execution
  • Decentralized applications (dApps)
  • New use cases like DeFi, NFTs

Expanded Offerings

Ethereum offers:

  • Self-executing contracts
  • Decentralized governance
  • Tokenization
  • Complex logic for dApps

Shift in Focus

Smart contracts shifted blockchain's focus from digital currency to a decentralized computing platform.

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Give me a list of the chains that forked from Ethereum?

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Ethereum Forks

Some notable chains that forked from Ethereum include:

  • Ethereum Classic (ETC): Resulted from the DAO hack in 2016
  • Ethereum Fair (ETF): Aims to provide a more decentralized and community-driven network
  • Expanse (EXP): Focuses on providing a more scalable and secure platform
  • Ubiq (UBQ): Emphasizes security, stability, and community involvement
  • Musicoin (MUSIC): A blockchain-based music streaming platform
  • Callisto (CLO): Aims to provide a more secure and decentralized platform for smart contracts
  • Ellaism (ELLA): A community-driven fork with a focus on decentralization and security

Other Forks

There are many other chains that have forked from Ethereum, each with their own unique features and goals. These forks often aim to improve upon the original Ethereum protocol or provide specialized functionality.

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What are some of the most popular Layer 2 on Ethereum?

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Popular Layer 2 Solutions

Some of the most popular Layer 2 solutions on Ethereum include:

  • Optimism (formerly Plasma): Utilizes optimistic rollups to increase scalability
  • Arbitrum: Employs rollup technology to enhance transaction throughput
  • Polygon (formerly Matic): Leverages a sidechain architecture to improve scalability
  • Loopring: Uses zk-Rollups to enable fast and secure transactions
  • zkSync: Utilizes zero-knowledge proofs to provide a scalable and secure solution
  • Optimism's Bedrock: Aims to provide a more scalable and decentralized solution

Layer 2 Ecosystem

These Layer 2 solutions aim to address Ethereum's scalability issues, enabling faster and more cost-effective transactions. They have gained significant traction and are being adopted by various DeFi protocols and applications.

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What is the difference between a Layer 2 on Ethereum and a true fork of the blockchain?

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Layer 2 vs Fork

A Layer 2 solution improves Ethereum's scalability, speed, and efficiency, operating on top of the main blockchain.

Key Differences

  • Separate blockchain: Fork creates a new blockchain, Layer 2 doesn't.
  • Consensus mechanism: Fork has its own, Layer 2 uses Ethereum's.
  • Tokenomics: Fork has its own token, Layer 2 uses ETH or existing tokens.
  • Smart contract compatibility: Fork may differ, Layer 2 is compatible with Ethereum contracts.

Implications

Understanding the difference affects decentralization, security, and compatibility.

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Which is preferred, building a Layer 2 or forking the chain?

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Preference Between Layer 2 and Forking

Building a Layer 2 solution is generally preferred over forking the chain, as it:

  • Leverages Ethereum's security and decentralization
  • Avoids the need for a new consensus mechanism
  • Enables compatibility with existing Ethereum smart contracts
  • Allows for faster development and deployment

Forking Considerations

Forking the chain is typically considered when:

  • Significant changes to the protocol are required
  • A new consensus mechanism is needed
  • A distinct tokenomics or governance model is desired

Developer Preference

Most developers prefer building on Layer 2 solutions, as they can focus on application development without worrying about the underlying blockchain infrastructure.

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How is Ethereum going to solve its scaling problems with all the layer 2 development?

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Ethereum Scaling Solution

Ethereum's scaling problems are being addressed through a combination of Layer 2 solutions and the upcoming Ethereum 2.0 upgrade.

Layer 2 Contributions

Layer 2 solutions, such as rollups and sidechains, are increasing transaction throughput and reducing costs.

Ethereum 2.0

Ethereum 2.0 will introduce:

  • Sharding: dividing the network into smaller, parallel chains
  • Proof of Stake (PoS): a more energy-efficient consensus mechanism
  • Beacon Chain: a new chain that will manage the network's validators

Synergistic Effects

The combination of Layer 2 solutions and Ethereum 2.0 will create a synergistic effect, enabling Ethereum to scale more efficiently and securely.

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