Crypto Terms:
Letter E
What is Ethereum Virtual Machine (EVM)?
Meaning:
Ethereum Virtual Machine (EVM) -
a Turing-complete blockchain-based software that executes code exactly the way it was intended.
Let's find out Ethereum Virtual Machine (EVM) meaning, definition in crypto, what is Ethereum Virtual Machine (EVM), and all other detailed facts.
Ethereum Virtual Machine (EVM) is a computation engine that functions as a decentralized computer with millions of projects to be executed. It acts as the virtual machine that drives the entire Ethereum operating system where task execution and smart contracts happen.
The EVM's purpose is to add a number of new processes to the blockchain so that users have fewer problems with the distributed ledger. To ensure blockchain consensus, every Ethereum node runs on the EVM. The code inside the EVM is entirely isolated, which means it has no access to the network, file system, or any other processes.
Externally Owned Accounts (EOA) and Contract Accounts are the two types of accounts that are recognized equally by the EVM. Account abstraction attempts to convert these two into a single account because EOAs and Contract Accounts are interchangeable and work pretty much the same. Contract accounts are maintained in the smart contracts while EOAs are managed by private keys.
The majority of the source code of smart contracts is written in the Solidity programming language. A contract written in the smart-contract coding is transformed into what is known as bytecode. After that, it is transformed into opcodes that EVM interprets and uses the operation codes to accomplish specific tasks.
Thus, EVM is one of the biggest projects that run in the cryptocurrency world and it acts as a massive decentralized computer that executes various operations on the blockchain.
smart contract<\/strong><\/a> is a program with automation abilities. It takes the terms and conditions of the agreement between the buyer and the seller and turns them into code. This code is responsible for the response with <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-user-interface-ui/">user interfaces (UI)<\/strong><\/a>.<\/p>\n<p>This allows smart contracts to produce events and track and store transaction logs once a transaction has been mined. Then the front end of the blockchain can process it. <\/p>\n<p>In most cases, users have to interact with the blockchain and sign a transaction manually in order to call a smart contract. Automation that’s implemented within smart contracts is utilized to make this process simpler. <\/p>\n<p><strong>Pre-determined triggers remove the need for user’s to carry out specific actions themselves<\/strong>. Automation tools have the ability to recognize events and set off the pre-determined triggers that activate the built-in processes of smart contracts. <\/p>\n<p><strong>Event triggers are especially useful when trying to make a specific process more efficient<\/strong>. Let’s take a look at a few examples:<\/p>\n<ul>\n<li>Blockchains, where users experience slow transaction speeds or increasing gas fees, can benefit from implementing event triggers such as notifying users when the threshold for gas fees is reached due to congestion within the network;<\/li>\n<li>Notifications regarding suspicious activity can be applied in crypto holder’s wallets;<\/li>\n<li>Trade markets can introduce specific action triggers when the price of a cryptocurrency fluctuates to a certain level.<\/li>\n<\/ul>","definition":"is a process that initiates a planned event.","status":"published","meta_title":"What is Event Trigger? Definition & Meaning | Crypto Wiki","meta_description":"Event Trigger meaning: Event Trigger - is a process that initiates a planned event.","meta_keywords":null}"
:prev-section="{"id":327,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Ethereum","level":"easy","author_id":1,"created_at":"2023-06-19T06:58:59.000000Z","updated_at":"2023-12-04T04:53:54.000000Z","slug":"what-is-ethereum-transaction","title":"What is Ethereum Transaction?","section":"E","keyword":"Ethereum Transaction","content":"<p>The most simple transaction could be described as transferring <a href=https://www.bitdegree.org/"//crypto//buy-ethereum-eth/">Ethereum-based assets from one that happens from one ETH account to the other.<\/p>\n<p>On the Ethereum blockchain, users may conduct three sorts of transactions. A typical transaction in which an Externally Owned Address (EOA) delivers ETH to another EOA. Token transfers are transactions involving <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-erc-20/">ERC-20 or <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-erc-721/">ERC-721 <\/strong><\/a>tokens. An internal transaction is an ETH transfer that is facilitated by a <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-smart-contract/">smart contract<\/strong><\/a> acting as an intermediary.<\/p>\n<p>From a cryptocurrency perspective, an Ethereum transaction is the action that is emphasized by an externally-owned account, controlled by a human and not a contract.<\/p>\n<p>For example, if Stacy sends 5 ETH to Jennifer, her account must be debited and Jennifer's account must be credited. When this state changes, an action is taken in the form of a transaction. Based on Ethereum’s regulations of consensus, the network confirms the transaction as a valid one and then gets added to a block that is then added to the blockchain.<\/p>\n<p>Speaking of terminology, the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-gas-limit/">gas limit<\/strong><\/a> is the maximum amount of gas that may be consumed by a transaction. The <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-gas-price/">gas price<\/strong><\/strong><\/a> is the amount of money that the sender will pay for each unit of gas. A nonce is a sequence number that is unique to each sender and must fit the next accessible sequence number.<\/p>\n<p>Furthermore, the value represents the amount of Ether to be sent from the sender to the recipient, which might be zero. In contrast, the receiver is the account address to which the transaction is ultimately transferred.<\/p>\n<p>Finally, the data is an extra arbitrary binary data, where the contract's <strong>bytecode<\/strong> is delivered throughout the contract implementation.<\/p>","definition":"Ethereum transactions are cryptographically signed instructions from accounts that are used to initiate transactions that affect the state of the Ethereum network.","status":"published","meta_title":"What is Ethereum Transaction? Definition & Meaning | Crypto Wiki","meta_description":"Ethereum Transaction meaning: Ethereum Transaction - Ethereum transactions are cryptographically signed instructions from accounts that are used to initiate transactions that affect the state of the Ethereum network.","meta_keywords":null}"
:model="{"id":336,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Ethereum#Virtual_machine","level":"easy","author_id":1,"created_at":"2023-06-19T06:58:59.000000Z","updated_at":"2023-12-04T04:58:11.000000Z","slug":"what-is-ethereum-virtual-machine-evm","title":"What is Ethereum Virtual Machine (EVM)?","section":"E","keyword":"Ethereum Virtual Machine (EVM)","content":"<p><strong>Ethereum Virtual Machine (EVM)<\/strong> <strong>is a computation engine<\/strong> that functions as a decentralized computer with millions of projects to be executed. It acts as the virtual machine that drives the entire Ethereum operating system where task execution and <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-smart-contract/">smart contracts<\/strong><\/a> happen.<\/p>\n<p>The EVM's purpose is to add a number of new processes to the blockchain so that users have fewer problems with the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-distributed-ledger/">distributed ledger<\/strong><\/a>. To ensure blockchain consensus, every Ethereum node runs on the EVM. <strong>The code inside the EVM is entirely isolated<\/strong>, which means it has no access to the network, file system, or any other processes.<\/p>\n<p><strong>Externally Owned Accounts (EOA) and<\/strong> <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-contract-account/">Contract Accounts<\/strong><\/a> are the two types of accounts that are recognized equally by the EVM. Account abstraction attempts to convert these two into a single account because EOAs and Contract Accounts are interchangeable and work pretty much the same. Contract accounts are maintained in the smart contracts while EOAs are managed by <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-private-key-secret-key/">private keys<\/strong><\/a>.<\/p>\n<p>The majority of the source code of smart contracts is written in the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-solidity/">Solidity programming language<\/strong><\/strong><\/a>. A contract written in the smart-contract coding is transformed into what is known as <strong>bytecode<\/strong>. After that, it is transformed into <strong>opcodes<\/strong> that EVM interprets and uses the operation codes to accomplish specific tasks.<\/p>\n<p>Thus, EVM is one of the biggest projects that run in the cryptocurrency world and it acts as a massive decentralized computer that executes various operations on the blockchain.<\/p>","definition":"a Turing-complete blockchain-based software that executes code exactly the way it was intended.","status":"published","meta_title":"What is Ethereum Virtual Machine (EVM)? Definition & Meaning | Crypto Wiki","meta_description":"Ethereum Virtual Machine (EVM) meaning: Ethereum Virtual Machine (EVM) - a Turing-complete blockchain-based software that executes code exactly the way it was intended.","meta_keywords":null,"author":{"id":1,"user_id":1,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2023-05-11T07:18:20.000000Z","title":"Editor-In-Chief","slug":"aaron-s-editor-in-chief","description":"<p>Having completed a Master’s degree on Economics, Politics & Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US’ Western and Japan’s Collective forms of capitalism, 1945-2020.<\/p>\n<p>With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.<\/p>\n<p>Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\n<p>Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.<\/p>","user":{"id":1,"first_name":"Aaron","last_name":"S.","email":"aaron@bitdegree.org","email_sanitized":"aaron@bitdegree.org","email_verified_at":"2023-12-01T09:40:20.000000Z","must_verify_email":false,"is_registered_with_wallet":false,"status":"active","country":"LT","last_connected_ip":"88.119.132.125","image_id":2641,"referral_token":"05TMu2NysXOCn525","referred_by":null,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2024-01-09T15:22:21.000000Z","full_name":"Aaron S."}}}"
:chapter-list="[{"id":1,"title":"Blockchain","slug":"blockchain","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-blockchain.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/blockchain-101.jpg","rating":100,"sections":[{"chapter_id":1,"order":1,"slug":"what-is-blockchain","title":"What is the Blockchain?","status":"published","modified_content":null},{"chapter_id":1,"order":2,"slug":"decentralized-blockchain","title":"Anonymous & Decentralized Blockchains: The Cornerstone of Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":3,"slug":"blockchain-transaction","title":"What is a Blockchain Transaction in Crypto?","status":"published","modified_content":null},{"chapter_id":1,"order":4,"slug":"crypto-fees","title":"The Different Types of Crypto Fees Explained","status":"published","modified_content":null},{"chapter_id":1,"order":5,"slug":"what-is-bridging-in-crypto","title":"The Key Notion Behind the Concept of Bridging in Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":6,"slug":"types-of-blockchains","title":"Different Types of Blockchains: What to Look Out For?","status":"published","modified_content":null}]},{"id":2,"title":"Cryptocurrencies","slug":"cryptocurrencies","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-cryptocurrencies.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/cryptocurrencies-101.jpg","rating":100,"sections":[{"chapter_id":2,"order":1,"slug":"what-is-a-cryptocurrency","title":"What is a Cryptocurrency?","status":"published","modified_content":null},{"chapter_id":2,"order":2,"slug":"how-does-cryptocurrency-work","title":"How Does Cryptocurrency Work?","status":"published","modified_content":null},{"chapter_id":2,"order":3,"slug":"is-cryptocurrency-a-good-investment","title":"Is Cryptocurrency a Good Investment? The Pros & Cons","status":"published","modified_content":null},{"chapter_id":2,"order":4,"slug":"coin-vs-token","title":"Coin VS Token: How Do They Differ?","status":"published","modified_content":null},{"chapter_id":2,"order":5,"slug":"what-are-stablecoins","title":"What are Stablecoins, Altcoins & Wrapped Coins?","status":"published","modified_content":null},{"chapter_id":2,"order":6,"slug":"what-is-a-bitcoin","title":"Bitcoin: the Pioneer of the Crypto World","status":"published","modified_content":null},{"chapter_id":2,"order":7,"slug":"what-is-ethereum","title":"The Ultimate Blockchain for dApp Creation: Ethereum","status":"published","modified_content":null},{"chapter_id":2,"order":8,"slug":"what-is-cardano-in-crypto","title":"What is Cardano and What is It Used For?","status":"published","modified_content":null},{"chapter_id":2,"order":9,"slug":"what-is-shiba-inu-coin","title":"Shiba Inu: the Dogecoin 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Contracts?","status":"published","modified_content":null},{"chapter_id":6,"order":7,"slug":"what-is-a-dao-in-crypto","title":"The Notion of a Decentralized Autonomous Ogranization (DAO)","status":"published","modified_content":null},{"chapter_id":6,"order":8,"slug":"what-is-staking-in-crypto","title":"What is the Goal of Staking Crypto Assets?","status":"published","modified_content":null},{"chapter_id":6,"order":9,"slug":"what-is-liquidity-pool-in-crypto","title":"What is a Liquidity Pool and How Does It Work?","status":"published","modified_content":null},{"chapter_id":6,"order":10,"slug":"what-is-automated-market-maker","title":"Automated Market Maker: the Cornerstone of the Decentralized Crypto Exchange Industry","status":"published","modified_content":null},{"chapter_id":6,"order":11,"slug":"what-is-yield-farming-in-crypto","title":"The Main Yield Farming 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current-chapter="E"
current-section="what-is-ethereum-virtual-machine-evm">
