Ethereum Virtual Machine (EVM) is a runtime environment that allows for the execution of smart contracts written in Ethereum’s native programming language, Solidity.
The EVM is powered by the Ethereum blockchain, which is a decentralized ledger that records all transactions on the network and powered by thousands of nodes across the globe. In essence and as mentioned earlier, the EVM is used to execute smart contracts, which are programs that run on the Ethereum network.
Technically, the EVM is responsible for processing and executing all transactions on the Ethereum network, and not just those involving smart contracts. Moreover, the EVM actively manages the state of accounts in the network ensuring synchrony.
Advantages of a Turing-complete Ethereum Virtual Machine (EVM)
The EVM is Turing complete and allows for the execution of smart contracts on the Ethereum blockchain. This means that it can run any type of program, regardless of complexity. This makes it a very powerful tool for developers, as it allows for the creation of complex decentralized applications (dApps).
One of the major advantages of the EVM is that it is extremely versatile. It can be used to create all sorts of programs, from financial applications to games. This flexibility makes it one of the most popular platforms for dApp development.
Another advantage of the EVM is that it is extremely secure. Because all smart contracts are executed on the blockchain, they are immutable and cannot be tampered with. This makes the EVM an ideal platform for developing applications that need to be highly secure, such as financial applications.
Most importantly, the EVM is also scalable. Because it is based on the Ethereum blockchain, it can theoretically handle an unlimited number of transactions. This makes it a good choice for developing applications that could potentially have a lot of users.
What are the Differences between EVM and Ethereum WebAssembly (WASM)?
EVM and WebAssembly (WASM) are two different approaches to executing code on the Ethereum network.
EVM is the existing bytecode execution environment used by Ethereum smart contracts, while WebAssembly is a newer technology that could potentially be used as an alternative once Ethereum fully transit to a proof of stake system.
Note that the WASM is not specific to Ethereum but it is seen as a potential replacement for the EVM, as it is more efficient and allows for the execution of smart contracts written in a variety of languages, not just Solidity.
Even so, there are several key differences between EVM and WASM?
First, WASM is designed to be more efficient than EVM, meaning that it can execute code faster and use less energy. Additionally, WASM is designed to be more secure than EVM, with a number of features that make it more difficult for malicious actors to exploit vulnerabilities. Finally, WASM is designed to be more flexible than EVM, allowing for a wider range of programming languages to be used to develop smart contracts.
Overall, WASM represents a potential upgrade to the Ethereum network in terms of both efficiency and security. However, it is important to note that WASM is still being improved on and refined.