Educational Byte: What Is the EVM and Why Is It Everywhere in Crypto?
Short for Ethereum Virtual Machine, the EVM was first created for the Ethereum blockchain, but it hasn’t stopped there. This is the heart of many decentralized smart contract systems. Actions like sending tokens, swapping assets, minting NFTs, or any other Decentralized Application (Dapp) may depend on a version of the EVM.
The Ethereum Yellow Paper describes it like this: “It is a quasi-Turing complete machine; the quasi qualification comes from the fact that the computation is intrinsically bounded through a parameter, gas, which limits the total amount of computation done.” This, in mortal language, describes a virtual computer that can run almost any kind of program with a limit in form of “gas” fees, which prevent anyone from using too many resources or slowing the system.
Let’s see a bit more of this.
What Does the EVM Actually Enable?
It’s important to note that the EVM works on a...
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