Ethereum Virtual Machine (EVM)

Beginner

The Ethereum Virtual Machine (EVM) is a Turing-complete programmable machine that is the computational heart of the blockchain network’s ecosystem. One can think of the EVM as a decentralized supercomputer that uses its resources to host and run applications.

The primary role of the EVM is to execute smart contracts, which are self-executing code segments facilitating the deployment of intricate transactions and decentralized applications (DApps). These smart contracts are predominantly written in the Solidity programming language. After being penned in Solidity, they are compiled into bytecode. The EVM then interprets this bytecode to carry out the tasks specified within the smart contract.

One of the standout features of the EVM is its isolated environment. This design ensures that code within the EVM remains untouched by external elements, such as network processes or file systems. This safeguard ensures that processes are carried out seamlessly without any external disruptions.

However, for all its innovations, the EVM isn't without its challenges. A prominent concern is the unpredictable transaction fees, often referred to as gas fees. These fees are subject to change based on the intricacy of the contract and the volume of network activity. Consequently, developers and businesses need to strategically calibrate their service pricing.

While Ethereum originally introduced the EVM, its influence has resonated beyond its origins. Chains like BNB Chain, Avalanche, Fantom, and Polygon have integrated EVM compatibility, providing developers with a recognizable environment for their smart contract endeavors.

Also Learn: What Is Ethereum and How Does It Work?

Related Glossaries

Zero-Knowledge Proofs

Proofs to verify that transactions are valid without revealing any information about these transactions, pr...

Absolute Advantage

An economics concept in which one party has a direct advantage in efficiency in producing/providing a speci...

Quantitative Tightening (QT)

A monetary policy tool used by central banks to reduce the supply of money in the economy.

Put your knowledge into practice by opening a Binance account today.