Ethereum Virtual Machine (EVM)

EVM stands for Ethereum Virtual Machine.

The EVM, within the Ethereum universe of Ethereum nodes, is the single global virtual computer whose “state” every network participant/node agrees on.

State refers to Ethereum’s data structure, which holds all of the network’s accounts, balances, smart contracts, and machine state, which can change from block to block on the blockchain.

Anytime a contract is executed, for example, the state of the EVM is changed.

The EVM is the primary feature that sets it apart from distributed ledger blockchains like Bitcoin, making Ethereum a platform as well as a blockchain.

EVM refers to this idea of a software platform of Ethereum that allows developers on Ethereum to create their own decentralized applications or DApps.

Related Terms

Bitcoin (BTC)

Bitcoin (BTC) is most well known as a digital decentralized cryptocurrency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries, such as payment gateways or banks or routing services. Think of bitcoin as Internet money, that you can send and receive directly, to and from anyone, and you can use it to pay for stuff.

Ethereum (ETH)

Ethereum is a decentralized blockchain platform that makes digital money, global payments, and applications possible using open-source software and smart contract functionality. The big difference between the two is that Ethereum is programmable, meaning you can build and use decentralized apps on the network. That means the Ethereum blockchain can be programmed to do virtually anything.

Genesis Block

The very first block or first few blocks recorded on a blockchain or blockchain-based protocol. The genesis block is often called Block 0 or Block 1. The genesis block sets the foundation for the rest of the blocks that are added to form a chain of blocks. That’s where we get the word “blockchain”. The most famous genesis block, and the very first Bitcoin block, called the Genesis Block, was created on January 3rd, 2009, by Bitcoin’s infamous and mysterious creator, Satoshi Nakamoto. Some consider this date to be the start of the cryptocurrency revolution – the start of it all!

Blockchain

Blockchain networks are at the heart of cryptocurrencies. A blockchain is a database, or digital ledger, made up of a series of interconnected blocks containing transaction data created on the network over some period of time. Each block in a blockchain also contains a unique identifier unlike any other block in the chain called a hash. Think of the hash as a fingerprint identifying that block for all other blocks. Distributed ledger technology (DLT) is another name frequently used in relation to blockchains.

Metaverse

The Metaverse should give you the opportunity to do virtually anything you can do in the “real” world, but online…virtually. Some common characteristics of the metaverse that are discussed today include the use of virtual reality (VR) interfaces (goggles, headsets, etc.), augmented personal avatars that represent you in the digital world, and ownership of digital goods.