Ethereum (EVM) Compatibility and Smart Contracts

In addition to processing transactions, CTEX nodes also store and maintain the code and current state of smart contracts. Smart contracts, which are essentially persistent scripts, allow anyone to interact with them by sending transactions that invoke their functions. These contracts have their own accounts, capable of holding token balances and executing various operations.

Execution Environment: Virtual Machine

Smart contracts are executed within a specialized environment known as a 'virtual machine' (VM) on network nodes. The CTEX blockchain is currently designed to be highly compatible with Ethereum's virtual machine (EVM). This compatibility ensures that any smart contract or decentralized application (dApp) deployable on Ethereum or other EVM-compatible chains will also operate seamlessly on CTEX.

Interoperability and Compatibility

One notable advantage of CTEX's EVM compatibility is that it supports widely-used standards such as CTEX20 and CTEX721. This compatibility means that smart contracts adhering to these standards, along with any other EVM-compatible contracts, can be deployed on CTEX without requiring modifications to their code. This interoperability fosters a more inclusive and diverse ecosystem, enabling developers to leverage existing Ethereum-based applications and tools while benefiting from CTEX's enhanced features and capabilities.