Keywords
- ERC20
- EVM address
The term EVM stands for Ethereum Virtual Machine, which is the software that executes smart contracts and computes the state of the Ethereum network after each new block is added to the chain.
Therefore, EVM compatibility means the ability of other protocols to write and deploy smart contract code that is compatible with the Ethereum Virtual Machine. This compatibility enables blockchains like Avalanche, Polygon, Fantom, Binance Smart Chain, and others to have code that is compatible with the Ethereum Network.
Now, an EVM-compatible deposit address is a crypto address that shares the format required by the EVM. And since these compatible addresses share the same format by design, you can interact with EVM-compatible networks using the same address.
To learn what a crypto address is, check this article: