evm address

Ethereum Virtual Machine (EVM) addresses are unique identifiers for users or smart contracts on the Ethereum blockchain network. These addresses consist of 40 hexadecimal characters (prefixed with "0x") and are derived from a user's public key. EVM addresses are not only used on the Ethereum mainnet but have also been adopted by numerous EVM-compatible blockchains (such as Binance Smart Chain, Polygon, etc.), forming a vast ecosystem that allows users to utilize the same addressing system across different chains, promoting interoperability between blockchains.

Background: The Origin of EVM Addresses

The concept of Ethereum Virtual Machine addresses originated from the Ethereum whitepaper published by Vitalik Buterin in 2013. It was designed to create a unified addressing system that supported an account model rather than Bitcoin's UTXO model.

The Ethereum address generation process involves several key steps:

1. Creating a random private key (256 bits)
2. Generating a public key (512 bits) from the private key using Elliptic Curve Digital Signature Algorithm (SECP256k1)
3. Taking the Keccak-256 hash of the public key
4. Taking the last 20 bytes (160 bits) of this hash
5. Adding the "0x" prefix to form the final 42-character address

As EVM-compatible chains emerged, this address format was widely adopted, becoming a standard across the cross-chain ecosystem and facilitating the rapid development of DeFi and Web3 applications.

Work Mechanism: How EVM Addresses Work

EVM addresses operate based on asymmetric encryption technology and deterministic hash functions, with the following core characteristics:

1. Address Type Classification:

   • Externally Owned Accounts (EOAs): Controlled by users with private keys, capable of initiating transactions
   • Contract Accounts: Controlled by code, without private keys, only able to respond to transactions or message calls

2. Address Generation and Verification:

   • Addresses are derived hash values of public keys, not storing public keys directly, enhancing security
   • Addresses do not contain checksums, but modern wallets implement the EIP-55 standard (using mixed case letters to provide checksum functionality)
   • Address space is 2^160, making collisions virtually impossible

3. State Storage:

   • Each address is associated with a state, including balance, nonce (transaction count), code, and storage
   • All state changes are executed through transactions and recorded on the blockchain

4. Cross-chain Compatibility:

   • The same private key generates identical addresses across all EVM-compatible chains
   • Allows users to seamlessly use the same wallet and address across different chains

What are the risks and challenges of EVM Addresses?

While widely used, the EVM address system still faces several challenges:

1. User Experience Issues:

   • Addresses are 42-character hexadecimal strings, difficult to memorize and manually input
   • Input errors cannot be detected through the address itself (unless using EIP-55 format), potentially leading to loss of funds
   • Addresses cannot display balance or transaction history information, requiring blockchain explorers for assistance

2. Security Concerns:

   • Lost private keys cannot be recovered, with no centralized recovery mechanism
   • Theoretical risk of address collisions, although extremely unlikely
   • Smart contract addresses are predictable, enabling potential deployment of malicious contracts

3. Technical Limitations:

   • Address format does not support sub-addresses or multi-signature functionality
   • Lacks built-in authentication or permission management features
   • Cannot execute code directly, requiring transaction triggers

4. Compatibility Issues:

   • Not compatible with non-EVM chains (like Bitcoin, Solana), increasing cross-chain operation difficulties
   • Various EVM-compatible chains may have subtle differences in address implementation, causing user confusion

With the development of solutions like ENS (Ethereum Name Service), some user experience issues have been alleviated, but other challenges still require industry-wide efforts to address.

As a fundamental component of the blockchain ecosystem, the importance of Ethereum Virtual Machine addresses cannot be overstated. They not only provide users with secure asset storage and transaction capabilities but also create a stable identification and execution environment for smart contracts. With the expansion of the Web3 ecosystem, the EVM address standard has transcended Ethereum boundaries to become a universal interface for many compatible chains, driving the prosperity of the entire decentralized application ecosystem. Despite facing usability and technical limitation challenges, EVM addresses will continue to play a crucial role as the "ID cards" of the blockchain world for the foreseeable future, potentially evolving into more user-friendly and feature-rich forms as the industry develops.