EVM (Ethereum Virtual Machine) is a decentralized, public computing platform that runs on the Ethereum blockchain. It is responsible for executing smart contracts written in high-level programming languages such as Solidity and Vyper. The EVM allows developers to create applications that can interact with each other within the Ethereum network without requiring any centralized server or third party to operate them.
Smart contracts are self-executing pieces of code stored on the Ethereum blockchain and run completely autonomously once deployed, allowing users to securely exchange assets and data without having to trust one another or rely upon an intermediary authority such as a bank or financial institution. Smart contract execution cannot be reversed, thus providing secure transactions between parties involved in a transaction; these transactions are known as atomic swaps due their irreversible nature when using certain types of blockchains like Ethereum’s Proof of Work consensus algorithm which requires miners who verify and process blocks before they become added onto its chain permanently making it impossible for anyone else tampering with existing records after they have been committed into its ledger also known as immutability.
The EVM ensures fair play by maintaining state across all nodes connected via peer-to-peer networks running distributed applications (DApps). In order words, if you send funds using your wallet’s address from one location then this action will immediately be updated across all nodes connected via P2P thereby ensuring consistency throughout the entire system regardless what node you’re connecting through – this makes sure no single user has more power over others whilst simultaneously creating security against malicious actors attempting take advantage of vulnerable participants within networked systems since everyone has same level access rights granted by consensus algorithms employed at protocol layers below layer application logic where Dapps exist atop them leveraging capabilities offered respectively so long those adhere rules set out prior developing said entities meant engage end users directly .
