EVM, short for Ethereum Virtual Machine, is a Turing-complete virtual machine that can execute code and support smart contracts. An EVM functions like a decentralized computing device that can run executable code and deploy smart contracts like Ethereum. EVMs are entirely isolated, meaning their code does not have access to the computer’s network, file system, or other processes.
EVMs can offer higher versatility to blockchain networks, facilitating support for smart contracts and decentralized applications (dApps), allowing the distributed ledger to be used for more than just the transfer of payments digitally.