The Ethereum Virtual Machine (EVM) is a runtime environment executing smart contracts on the Ethereum blockchain. Imagine it as a distributed computer, maintained by thousands of connected computers.
Table of contents
Key Features
- Execution Environment: The EVM provides an environment for executing code.
- Smart Contracts: It runs smart contracts written in languages like Solidity.
- Decentralized: The EVM operates across a network of nodes, ensuring no single point of failure.
- Custom Rules: Unlike a physical processor, the EVM has custom rules.
- Blockchain Memory: The blockchain acts as the EVM’s memory, storing contract code and data.
The EVM is the backbone of Ethereum, enabling decentralized applications and complex financial instruments.
Analogy to a Physical Processor
Like a physical processor relies on hardware, the EVM relies on software to simulate operations. The blockchain serves as the memory (RAM) for the EVM. This allows for the execution of programs.
Importance of the EVM
The EVM’s design allows developers to create and deploy decentralized applications (dApps) that are secure, transparent, and tamper-proof. Its ability to execute complex logic makes Ethereum a powerful platform for innovation.
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The EVM’s operation is deterministic. Given the same input and initial state, it will always produce the same output, regardless of the node executing the code; This determinism is crucial for maintaining consensus across the Ethereum network.
Gas and Computation
- Gas: The EVM uses a metering system called “gas” to limit resource consumption during contract execution. Each operation in the EVM consumes a certain amount of gas.
- Gas Limit: Transactions have a gas limit, preventing infinite loops or excessive computations.
- Transaction Fees: Users pay transaction fees in Ether (ETH) to compensate miners for executing their code.
EVM Architecture
The EVM is a stack-based architecture. It uses a stack to perform computations. The stack has a limited size, which imposes constraints on the complexity of smart contracts.
EVM Opcodes
The EVM executes bytecode instructions called opcodes. These opcodes perform various operations, such as arithmetic, logical operations, memory access, and control flow.
EVM Security Considerations
Developing secure smart contracts for the EVM requires careful attention to detail. Common vulnerabilities include reentrancy attacks, integer overflows, and denial-of-service attacks.
