Interoperability between blockchains is one of the biggest problems that the industry is trying to solve. EVM compatibility is a good stepping-stone in solving this issue, proven by some of the most used blockchains currently: Avalanche, Binance Smart Chain, Fantom Opera, Polygon, DogeChain.
EVM stands for Ethereum Virtual Machine
The Ethereum network was the first to deploy smart contracts and is still regarded as the standard among competing blockchains. But due to its size and the enormous number of users, it got to a point where its scalability has become an issue. Problems like slow transactions and high gas fees are supposed to be solved with the launching of Ethereum 2.0.