BingAI
An Ethereum Classic EVM is a software component of the Ethereum Classic network that can execute smart contracts and decentralized applications12
Smart contracts are self-executing code that can perform various functions and transactions on the network. Decentralized applications are applications that run on the network without any intermediaries or central authorities12
The EVM is a Turing-complete virtual machine, which means it can compute anything that a normal computer can. It has its own instruction set, called opcodes, that define the operations it can perform. It also has its own memory, called the stack, where it stores temporary data12
The EVM operates on the basis of gas, which is a fee paid by the users to run their smart contracts and dapps. Gas is measured in units of ether, the native cryptocurrency of Ethereum Classic. The amount of gas required depends on the complexity and length of the code. Gas ensures that the network is not overloaded or abused by malicious or inefficient code12
The EVM is compatible with other EVM-based blockchains, such as Ethereum. This means that Ethereum Classic can inherit all the innovations and developments that happen on these other chains, such as new tools, languages, libraries, and concepts23
I hope this answer was helpful and informative. Do you have any other questions about Ethereum Classic or blockchain technology? π
Learn more: