Hedera's EVM Equivalence: Goals and Exceptions
Hedera's EVM equivalence strategy is designed to empower developers by facilitating the execution of EVM smart contracts more rapidly and cost-effectively while ensuring seamless integration of Hedera’s native services. The key goals include:
Hedera aims to enable a wider range of application programmability without sacrificing its unique value. This means allowing developers to build a diverse range of applications on the Hedera network, from decentralized finance (DeFi) applications to supply chain solutions, while still benefiting from the unique features of Hedera, such as its speed, security, and fairness.
Hedera plans to integrate its native services with the EVM seamlessly. This will allow developers to execute smart contracts more rapidly and cost-effectively. It will also make it easier for developers to use Hedera's services, as they can use the same tools and languages they are already familiar with from the Ethereum ecosystem.
Hedera's strategy involves leveraging the HyperLedger Besu EVM client, which allows developers to capitalize on their existing Solidity expertise. This means that developers who are already familiar with Solidity and the EVM can easily transition to developing on Hedera, taking advantage of its unique strengths such as faster transactions, low and fixed fees, fair transaction ordering, immediate finality, and heightened security.
Hedera aims to provide a seamless transition for developers already working with EVM-based platforms. This means making it easy for developers to move their existing applications, smart contracts, and other digital assets to the Hedera network. This goal is aimed at encouraging the adoption of the Hedera network by reducing the barriers to entry for developers.
Hedera plans to support familiar EVM tools, libraries, and environments. This includes providing support for popular development environments like Truffle and HardHat, as well as libraries like Web3js and EthersJS. The network also supports additional tools like MetaMask, The Graph, and Remix. This goal is aimed at making it easier for developers to build on Hedera, as they can use the same tools they are already familiar with from the Ethereum ecosystem.
Hedera encourages developers to contribute to its EVM development and join the community discussions in the official Hedera Discord. This goal is aimed at fostering a vibrant and engaged developer community, which is crucial for the long-term success and sustainability of the Hedera network.
While Hedera aims to achieve EVM equivalence, there are several exceptions and key differences to be aware of.
*Note: Token Association only applies to native HTS tokens and does not affect ERC-20/721 tokens.