Ethereum (EVM) Compatibility and Smart Contracts

In addition to the information about the transactions processed by MFEV Network , its nodes also permanently store and update the code and current state of smart contracts. Smart contracts are computer programs (persistent scripts) that anyone can interact with by sending transactions invoking them. Smart contracts also have their own accounts which can hold token balances.

On the network nodes, smart contracts are stored and executed in a special environment called 'virtual machine' (VM). The MFEV Network blockchain is currently broadly compatible with Ethereum's virtual machine (EVM).

This means that any smart contract or decentralized application (dApp) that can be deployed on Ethereum or another EVM-compatible chain will also function if deployed on MFEV Network, including standard ERC20 and ERC721 compatible contracts, for instance. No modification of the smart contract code is required.