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Is EVM compatible blockchain a competitor to Ethereum?

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I have questions regarding EVM compatible blockchain such as Moonbeam and Fantom.

  • If a blockchain is EVM compatible, does it do anything in the Ethereum chain or does it just mean that code in Ethereum can easily be migrated to that blockchain?
  • Does EVM compatible blockchain use the security of Ethereum?
submitted by /u/Spiritbomb6789
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