What is the Ethereum Virtual Machine (EVM)?
The EVM (Ethereum Virtual Machine) is an execution environment for smart contracts written in the Solidity programming language, used for developing decentralized applications. EVM is an important component of the Ethereum ecosystem, allowing developers to create complex and innovative applications to perform a wide range of functions.
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How does the EVM work? ⚙️
The Ethereum Virtual Machine (EVM) runs software code, or bytecode, that consists of machine-readable instructions. Whenever a user interacts with a smart contract on the Ethereum network, they send a transaction that contains the required input parameters and a reference to the contract's bytecode. The EVM processes the transaction and executes this code on every node in the network, ensuring that the result is the same on every machine.
EVM Workflow Source: ethereum.org
Features and Benefits
1. One of the key features of the EVM is its sandbox environment. Each contract runs in its own isolated virtual environment, preventing any unwanted interactions or potential security breaches with other contracts on the blockchain.
2. The EVM's gas system is another advantage. It helps regulate the use of computational resources in the Ethereum network by requiring a certain amount of gas for each execution of a smart contract. This ensures that the network doesn't get overwhelmed with a large number of transactions, keeping it running smoothly.
3. The EVM's universality is its most important feature. It allows decentralized applications written for Ethereum to be used in other EVM-compatible networks without requiring changes to the program code. This feature enables the use of Ethereum-based dapps on various networks, such as Avalanche, Fantom, Aurora, BNB Smart Chain, Polygon, Arbitrum, Optimism, and others.
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