"EVM" is a newly added GateChain module that supports smart contracts, enabling projects to build and deploy their products on GateChain~opening its doors to the miraculous world of decentralized finance.
With EVM as the smart engine for “GateChain” , we are now accessing the most active community in the crypto space and a full range of eco-products built on "Ethereum" network. "Ethereum" network has incubated a myriad of premium projects over the past few years, some of them even exploring the very frontier for the whole industry. With all those innovations made possible on top of the EVM, compatible to EVM has been one of the basic capabilities for most mainnets.
"GateChain" went live in 2019 and has since been running stably, proving native innovative features such as vault account, clearing mechanism and more to users, with its underlying protocol, Gatemint, provides the security to the whole decentralized network. Unlike a trade-off solution most public chains use, "EVM" has native functionality on "GateChain" mainnet. Users can deploy/call smart contract without transfer asset cross chains. This way, users can benefit from the native security features at a minimum migration cost.
To help users and developer migrating effortlessly from "Ethereum" to "Gatechain", we have added support for a new account type - "EVM-Account", which is consistent with a standard "Ethereum" account in usage, format and security, allowing "Ethereum" users to start using "EVM" functionalities on the "GateChain", even without creating a new account on "GateChain".
While providing the easy-to-use, we are also providing the native asset security features to "GateChain" users. "EVM-Account" can transfer to and from a "GateChain" native "Vault-Account" directly, allowing users to use revocable transactions, and clearing features to get the utmost asset security.
Besides compatibility on account level, "GateChain-EVM" is fully compatible with "EVM" smart contract code. Any smart contract that runs on "Ethereum" will run on GateChain seamlessly.
"GateChain-EVM" supports a full range of "Ethereum" ecosystem products. Browser wallet (e.g MetaMask)[How to Connect], developer tools, (e.g Remix)[How to Connect]，can easily connect to "GateChain" to help you get started and play in the DeFi world. For example, you can simply set up the "GateChain" network and use the same private key/public key/address on "Ethereum" account to make transfers and contracts calls. Note: using the same private key/public key/address is highly discouraged.
"GT" as the fuel to "GateChain" mainnet is also used as the only asset to pay Gas in "GateChain-EVM". A certain amount of "GT" will be needed to deploy and call contracts. This will extend the GT usage and benefits GT holders.