⚫What is EVM

overview

The Ethereum Virtual Machine or EVM is the runtime environment for smart contracts in Ethereum. It is not only sandboxed but actually completely isolated, which means that code running inside the EVM has no access to network, filesystem or other processes. Smart contracts even have limited access to other smart contracts.

EVM Official Docs : https://ethereum.org/en/developers/docs/evm/ Solidity EVM Intro : https://docs.soliditylang.org/en/v0.8.13/introduction-to-smart-contracts.html#index-6

Key Notions

Accounts There are two kinds of accounts in Ethereum which share the same address space: External accounts that are controlled by public-private key pairs (i.e. humans) and contract accounts which are controlled by the code stored together with the account

Transaction A transaction is a message that is sent from one account to another account (which might be the same or empty, see below). It can include binary data (which is called “payload”) and Ether.

Gas Upon creation, each transaction is charged with a certain amount of gas, whose purpose is to limit the amount of work that is needed to execute the transaction and to pay for this execution at the same time. While the EVM executes the transaction, the gas is gradually depleted according to specific rules.

Smart Contracts ( Solidity Programming Language )

Solidity is an object-oriented, high-level language for implementing smart contracts. Smart contracts are programs which govern the behaviour of accounts within the Ethereum state.