Ethereum Virtual Machine (EVM)
By CoinGecko | Updated on Mar 03, 2020
Ethereum Virtual Machine (EVM) is the environment in which all smart contracts are executed.
In the Ethereum network, each and every node runs an EVM instance allows them to execute the same instructions. EVM is vital to the Ethereum network, as it allows anyone to execute codes in a trustless environment while guaranteeing the outcome (eg. execution of smart contracts).
Related Terms
Proof-of-Burn (PoB)
A consensus algorthm that assigns block validation queue based on the coins/token burned by the validator.
Non-Fungible Tokens (NFT)
They are collectible elements within the Ethereum blockchain under ERC-721, where each token refers to a single element with a certain value
Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (Zk-Snarks)
An acronym for Zero-Knowledge Succinct Non-Interactive Argument of Knowledge, zk-SNARKs refers to a protocol where one can prove posession of a given piece of information (eg a string or hash) without revealing that information and also without any interaction between both the prover & verifier.
ERC-1155
ERC-1155 token standard allows each token ID to represent both non-fungible (NFTs) and fungible tokens which may have their metadata, token supply and other attributes.
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