Are you new to the cryptocurrency world and feeling a bit lost? Don't worry, you are not alone. The cryptocurrency space can be daunting for newcomers, with its many terms, abbreviations and definitions that can be difficult to understand.
ATAIX crypto glossary will help make sense of some of the most common cryptocurrency terms and definitions. Armed with this information, you'll be ready to start participating in this exciting and innovative new economy!
What is Ethereum Virtual Machine (EVM)?
Ethereum Virtual Machine (EVM) is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or third-party interference.
EVM is a key component of Ethereum, a decentralized platform that runs smart contracts. Smart contracts are applications that run exactly as programmed without any possibility of fraud or third-party interference.
The EVM executes code and stores data just like a standard computer. The main difference is that the EVM is completely isolated from the network, meaning it cannot access the internet or any other Ethereum network resource.
This makes the EVM incredibly secure, as there is no way for hackers to tamper with the code or data stored on the EVM.
The EVM is also Ethereum's decentralized platform, meaning that any central authority does not control it. This decentralization is key to Ethereum's security and stability.
The EVM is designed to be completely self-contained, meaning it does not rely on any external resources or data. This makes the EVM incredibly scalable, as it can be run on any computer with an internet connection.
Ethereum's smart contracts are stored on the Ethereum blockchain, which is a global, decentralized ledger. This blockchain is secure and tamper-proof, meaning that Ethereum is incredibly secure and reliable.
The EVM is just one part of Ethereum's infrastructure, which also includes the Ethereum Virtual Network (EVMNet), the Ethereum Blockchain Explorer (EtherScan), and the Ethereum Wallet.
These tools work together to provide a complete platform for developing and deploying decentralized applications.
The EVM is an important part of Ethereum's infrastructure and is key to its security, stability, and scalability. Ethereum would not be possible without the EVM.