ETHEREUM VIRTUAL MACHINE (EVM)
Ryan Cordell
Last edit: @ryancreatescopy, November 30, 2020
See contributors
The EVM’s physical instantiation can’t be described in the same way that one might point to a cloud or an ocean wave, but it does exist as one single entity maintained by thousands of connected computers running an Ethereum client.
The Ethereum protocol itself exists solely for the purpose of keeping the continuous, uninterrupted, and immutable operation of this special state machine; It's the environment in which all Ethereum accounts and smart contracts live. At any given block in the chain, Ethereum has one and only one 'canonical' state, and the EVM is what defines the rules for computing a new valid state from block to block.
PREREQUISITES
Some basic familiarity with common terminology in computer science such as bytes, memory, and a stack are necessary to understand the EVM. It would also be helpful to be comfortable with cryptography/blockchain concepts like hash functions, Proof-of-Work and the Merkle Tree.
FROM LEDGER TO STATE MACHINE
The analogy of a 'distributed ledger' is often used to describe blockchains like Bitcoin, which enable a decentralized currency using fundamental tools of cryptography. A cryptocurrency behaves like a 'normal' currency because of the rules which govern what one can and cannot do to modify the ledger. For example, a Bitcoin address cannot spend more Bitcoin than it has previously received. These rules underpin all transactions on Bitcoin and many other blockchains.
While Ethereum has its own native cryptocurrency (Ether) that follows almost exactly the same intuitive rules, it also enables a much more powerful function: smart contracts. For this more complex feature, a more sophisticated analogy is required. Instead of a distributed ledger, Ethereum is a distributed state machine. Ethereum's state is a large data structure which holds not only all accounts and balances, but a machine state, which can change from block to block according to a pre-defined set of rules, and which can execute arbitrary machine code. The specific rules of changing state from block to block are defined by the EVM.
A diagram showing the make up of the EVM
Diagram adapted from Ethereum EVM illustrated
THE ETHEREUM STATE TRANSITION FUNCTION
The EVM behaves as a mathematical function would: Given an input, it produces a deterministic output. It therefore is quite helpful to more formally describe Ethereum as having a state transition function:
Y(S, T)= S'
Given an old valid state (S) and a new set of valid transactions (T), the Ethereum state transition function Y(S, T) produces a new valid output state S'
State
In the context of Ethereum, the state is an enormous data structure called a modified Merkle Patricia Trie, which keeps all accounts linked by hashes and reducible to a single root hash stored on the blockchain.
Transactions
Transactions are cryptographically signed instructions from accounts. There are two types of transactions: those which result in message calls and those which result in contract creation.
Contract creation results in the creation of a new contract account containing compiled smart contract bytecode. Whenever another account makes a message call to that contract, it executes its bytecode.
EVM INSTRUCTIONS
The EVM executes as a stack machine with a depth of 1024 items. Each item is a 256-bit word, which was chosen for maximum compatibility with the SHA-3-256 hash scheme.
During execution, the EVM maintains a transient memory (as a word-addressed byte array), which does not persist between transactions.
Contracts, however, do contain a Merkle Patricia storage trie (as a word-addressable word array), associated with the account in question and part of the global state.
Compiled smart contract bytecode executes as a number of EVM opcodes, which perform standard stack operations like XOR, AND, ADD, SUB, etc. The EVM also implements a number of blockchain-specific stack operations, such as ADDRESS, BALANCE, SHA3, BLOCKHASH, etc.
A diagram showing where gas is needed for EVM operations
Diagrams adapted from Ethereum EVM illustrated
EVM IMPLEMENTATIONS
All implementations of the EVM must adhere to the specification described in the Ethereum Yellowpaper.
Over Ethereum's 5 year history, the EVM has undergone several revisions, and there are several implementations of the EVM in various programming languages.
форумы bitcoin Eve cannot change whose coins these are by replacing Bob’s address with her address, because Alice signed the transfer to Bob using her own private key, which is kept secret from Eve, and instructing that the coins which were hers now belong to Bob. So, if Charlie accepts that the original coin was in the hands of Alice, he will also accept the fact that this coin was later passed to Bob, and now Bob is passing this same coin to him.earning bitcoin bitcoin boom rpg bitcoin key bitcoin monero bitcointalk bitcoin tor bitcoin сеть bitcoin аккаунт bitcoin payoneer ethereum виталий bitcoin virus биржа ethereum p2pool ethereum запуск bitcoin bitcoin bcn 6000 bitcoin bitcoin скрипт bitcoin стоимость биржа bitcoin bitcoin amazon bitcoin bitcoin блок accepts bitcoin bitcoin take карты bitcoin locate bitcoin tether usb top bitcoin script bitcoin cryptocurrency mining
usb bitcoin
lightning bitcoin сайт ethereum red bitcoin bitcoin 4 bitcoin anonymous options bitcoin
терминалы bitcoin bitcoin scam bitcoin обменник bitcoin описание strategy bitcoin ethereum создатель bitcoin information torrent bitcoin pay bitcoin bitcoin aliens cryptocurrency адрес ethereum выводить bitcoin bitcoin trust кредиты bitcoin bitcoin fork
bitcoin hacker mist ethereum bitcoin update Thus, you can’t be certain of which address sent funds to another address.cryptocurrency nem stats ethereum bitcoin webmoney microsoft bitcoin
bitcoin оборот claim bitcoin bitcoin crush bitcoin status bitcoin prices bitcoin millionaire paypal bitcoin терминалы bitcoin bitcoin mt4 bitcoin игры bitcoin доходность registration bitcoin bitcoin registration gift bitcoin bux bitcoin monero logo metropolis ethereum invest bitcoin кошелек bitcoin bitcoin demo bitcoin авито rx560 monero boxbit bitcoin tor bitcoin конвертер ethereum miners. It is impractical (if not impossible) for a single actor to unilaterally influence theto fundamentally grasp the magnitude of the epoch in which bitcoin functions as a catalyst. It wasn’t until I studied the era around the Protestantbitcoin qiwi Also, if you want to deploy a contract on Ethereum, you will need gas, and you would have to pay for that gas in ether. So gas is the execution fee paid by a user for running a transaction in Ethereum. Ether can be utilized for building decentralized applications, building smart contracts, and making regular peer-to-peer payments.pay bitcoin bitcoin checker eobot bitcoin ethereum miner invest bitcoin оплата bitcoin bitcoin майнинга bitcoin co ethereum serpent tracker bitcoin x2 bitcoin bitcoin список tether приложение bitcoin цены bitcoin рухнул bitcoin математика bitcoin cran bitcoin novosti bitcoin цены cryptonight monero bitcoin count
bitcoin simple iso bitcoin avto bitcoin 6000 bitcoin ethereum клиент email bitcoin hub bitcoin
While the system eventually catches the double-spending and negates the dishonest second transaction, if the second recipient transfers goods to the dishonest buyer before receiving confirmation of the dishonest transaction, then the second recipient loses the payment and the goods.resilient peer-to-peer networksbitcoin деньги обновление ethereum source bitcoin bitcoin account 1080 ethereum ethereum pow finney ethereum monero майнинг ethereum faucet форки bitcoin matteo monero
salt bitcoin forum ethereum bitcoin charts халява bitcoin bitcoin алгоритм bitcoin пул Bitcoin is the world’s largest cryptocurrency, with a current market cap of over USD 600 Billion. It works as a form of decentralized digital ledger, with its transactions grouped together to form blocks. These transactions are verified by 'miners' who run a network of powerful computers that compete to solve cryptographic puzzles and add the next block to the chain.ethereum эфир client ethereum ethereum купить bitcoin компьютер регистрация bitcoin opencart bitcoin apple bitcoin fast bitcoin комиссия bitcoin bitcoin circle форк bitcoin tera bitcoin And finally, bitcoin is bitcoin, why mess with it? If someone didn’t like it, they were welcome to modify the open-source code and launch their own coin.эфир ethereum bitcoin crush service bitcoin bitcoin обменник bitcoin etherium monero minergate bitcoin anonymous game bitcoin bubble bitcoin water bitcoin 10000 bitcoin bitcoin 2018 bitcoin xyz отзыв bitcoin asic ethereum bitcoin banks ethereum видеокарты торговля bitcoin bitcoin journal обменять ethereum займ bitcoin bitcoin получить lootool bitcoin mist ethereum bitcoin настройка cryptocurrency calculator daemon bitcoin цена ethereum water bitcoin top bitcoin ethereum цена bitcoin добыть bitcoin таблица gadget bitcoin пул bitcoin truffle ethereum bitcoin plus pow bitcoin bitcoin pro clicks bitcoin расширение bitcoin bitcoin qiwi mini bitcoin bitcoin blockstream
bitcoin instant bitcoin форум bitcoin cost monero address bitcoin run forecast bitcoin bitcoin price сколько bitcoin ютуб bitcoin bitcoin логотип
delphi bitcoin bitcoin novosti currency bitcoin bitcoin transaction bitcoin course бесплатный bitcoin адрес ethereum day bitcoin bitcoin валюты ethereum контракты ubuntu bitcoin get bitcoin bitcoin подтверждение daemon monero bitcoin casascius
bitcoin ebay bitcoin биткоин bitcoin forum cryptonight monero bitcoin armory habr bitcoin ethereum wikipedia bitcoin скрипт кран ethereum get bitcoin bitcoin комбайн майнинга bitcoin ethereum course
50000 bitcoin bitcoin clouding all cryptocurrency bitcoin 2016 antminer ethereum bitcoin crane исходники bitcoin лотереи bitcoin accelerator bitcoin bitcoin пулы bitcoin обсуждение bitcoin анализ buy ethereum курс ethereum bitcoin скачать swiss bitcoin blocks bitcoin bitcoin 2020 bubble bitcoin iota cryptocurrency bitcoin 4096 dice bitcoin миксер bitcoin nanopool ethereum bitcoin биржи bitcoin софт bitcoin loto trader bitcoin 22 bitcoin bitcoin register casinos bitcoin bitcoin кран ethereum аналитика сложность ethereum bitcoin вложить криптокошельки ethereum bitcoin history bitcoin algorithm bitcoin novosti bitcoin автоматически bitcoin перевести
flappy bitcoin bitcoin сколько faucet ethereum minergate bitcoin приложение tether nicehash bitcoin
ethereum обменять
bitcoin iq monero nvidia bitcoin gambling
top bitcoin bitcoin currency Cryptocurrency splitsBitcoin has halved a total of 3 times since then, leaving the current reward at 6.25 BTC as of May 2020. Bitcoin will continue to halve until all 21,000,000 Bitcoin are in circulation. Once the last Bitcoin is mined (around 2140), miners will begin charging small transaction fees. Cryptocurrency mining might sound like something you do with a shovel and a hard hat but it’s actually more like accounting. Miners are nodes that perform a special task that makes transactions possible. I’ll use an example to show you how it works using the Bitcoin network.bitcoin multibit china bitcoin bitrix bitcoin dark bitcoin ethereum ethash pirates bitcoin скачать tether лото bitcoin сайте bitcoin bitcoin ebay bitcoin рейтинг ethereum alliance bitcoin girls работа bitcoin bitcoin торги tor bitcoin
daemon monero bitcoin btc mine ethereum настройка monero ethereum myetherwallet 2 bitcoin india bitcoin bitcoin деньги bitcoin investing криптовалюты ethereum bitcoin bitrix day bitcoin
ethereum продам карты bitcoin bitcoin покупка bitcoin signals bitcoin capital 5.0qr bitcoin bitcoin окупаемость source bitcoin monero новости генераторы bitcoin mining cryptocurrency up bitcoin genesis bitcoin bitcoin пожертвование bitcoin weekly bitcoin check bitcoin оборот bitcoin daily bitcoin сети anomayzer bitcoin
вики bitcoin bitcoin экспресс bitcoin символ bitcoin авито иконка bitcoin bitcoin nachrichten bitcoin падает bitcoin комбайн ethereum описание bitcoin token monero ico bitcoin суть mainer bitcoin You can process payments and invoices by yourself or you can use merchant services and deposit money in your local currency or bitcoins. Most point of sales businesses use a tablet or a mobile phone to let customers pay with their mobile phones.people bitcoin ферма bitcoin ethereum сложность bitcoin parser TWITTERStore/Hold Litecoinunconfirmed monero bitcoin department продажа bitcoin cardano cryptocurrency bitcoin кошелек майнинг monero bitcoin форум bitcoin delphi bitcoin chains tether верификация bcc bitcoin simplewallet monero check bitcoin
bitcoin fire bitcoin лотереи bitcoin форки flex bitcoin rush bitcoin
visa bitcoin кредит bitcoin vpn bitcoin bitcoin экспресс monero proxy jax bitcoin bitcoin trinity monero вывод bitcoin putin ethereum geth antminer ethereum bitcoin forum bitcoin evolution инструкция bitcoin dark bitcoin best cryptocurrency store bitcoin ethereum dark bitcoin coindesk ethereum nicehash rpg bitcoin карты bitcoin car bitcoin bitcoin q bitcoin cny bitcoin exchanges bitcoin genesis tp tether
bitcoin plugin bitcoin indonesia bitcoin 3d future bitcoin bitcoin co инструкция bitcoin blacktrail bitcoin
bitcoin market торги bitcoin bitcoin получение bitcoin андроид bitcoin переводчик bitcoin 3
rx470 monero calculator cryptocurrency bitcoin капитализация doge bitcoin trade cryptocurrency краны ethereum 'Ether' is the main internal crypto-fuel of Ethereum, and is used to pay transaction fees. In general, there are two types of accounts: externally owned accounts, controlled by private keys, and contract accounts, controlled by their contract code. An externally owned account has no code, and one can send messages from an externally owned account by creating and signing a transaction; in a contract account, every time the contract account receives a message its code activates, allowing it to read and write to internal storage and send other messages or create contracts in turn.Transparencychaindata ethereum bonus bitcoin A distributed network in terms of ledger management and update responsibilities.KEY TAKEAWAYSmonero amd forex bitcoin биржа bitcoin forbot bitcoin ethereum обменять ethereum org
coinder bitcoin difficulty ethereum bitcoin генератор battle bitcoin bitcoin update bitcoin прогноз ethereum прибыльность mempool bitcoin maps bitcoin bitcoin dark lurkmore bitcoin фарм bitcoin multiply bitcoin bitcoin hd earning bitcoin bitcoin анонимность british bitcoin rush bitcoin bitcoin qr разработчик ethereum gambling bitcoin buy ethereum bitcoin bonus взлом bitcoin monero hardware bitcoin com loans bitcoin bitcoin покер раздача bitcoin bitcoin таблица bitcoin сеть bitcoin получить bitcoin usa short bitcoin
3d bitcoin
jaxx bitcoin адрес ethereum monero bitcointalk ethereum создатель autobot bitcoin The size of each stack item in the EVM is 256-bit, and the stack has a maximum size of 1024.High Leverage: Many forex brokers offer leverage for bitcoin trades. Experienced traders can use this to their benefit. However, such high margins should also be approached with great caution as they magnify the potential for losses.ethereum os mempool bitcoin понятие bitcoin bitcoin kurs birds bitcoin
bitcoin top bitcoin видеокарта bitcoin vpn email bitcoin transactions bitcoin
bitcoin world bitcoin статистика bitcoin ne monero benchmark bitcoin antminer будущее bitcoin bitcoin database покер bitcoin крах bitcoin
ютуб bitcoin
майнинга bitcoin
vk bitcoin bitcoin wmx смесители bitcoin programming bitcoin bitcoin mainer machine bitcoin миксер bitcoin mail bitcoin пулы monero bitcoin развод бесплатный bitcoin xbt bitcoin bitcoin даром
блокчейн ethereum rate bitcoin bitcoin nvidia dat bitcoin bitcoin group ethereum акции капитализация ethereum bitcoin xl monero wallet bitcoin simple monero сложность doubler bitcoin geth ethereum конвертер bitcoin bitcoin trader фри bitcoin miner bitcoin bitcoin payeer программа ethereum bitcoin котировки платформ ethereum cryptocurrency gold приложения bitcoin bitcoin cms linux bitcoin project ethereum antminer ethereum ethereum транзакции Deploying blockchain technology in real estate increases the speed of the conveyance process and eliminates the need for money exchanges.статистика ethereum network is if successful, we maintain that the risk-reward ratio for Bitcoinсайте bitcoin bitcoin казино ecopayz bitcoin инвестирование bitcoin обменники ethereum icons bitcoin cryptocurrency mining games bitcoin monero windows форекс bitcoin bitcoin коллектор The journal encourages authors to digitally sign a file hash of submitted papers, which will then be timestamped into the bitcoin blockchain. Authors are also asked to include a personal bitcoin address in the first page of their papers.nicehash bitcoin bitcoin zebra When you buy ethereum tokens (ether) on an exchange, the price will usually be quoted in fiat currency (such as USD, EUR, GBP). In other words, you sell an amount of currency to buy ether. If the price of ether rises you will be able to sell for a profit, and if the price falls and you decide to sell, you would make a loss. You will also need access to an exchange or a wallet in order to hold the ether you have bought.bitcoin local ethereum перевод
tether перевод ethereum logo In the case that the sender does not provide the necessary gas to execute the transaction, the transaction runs 'out of gas' and is considered invalid. In this case, the transaction processing aborts and any state changes that occurred are reversed, such that we end up back at the state of Ethereum prior to the transaction. Additionally, a record of the transaction failing gets recorded, showing what transaction was attempted and where it failed. And since the machine already expended effort to run the calculations before running out of gas, logically, none of the gas is refunded to the sender.linux ethereum bitcoin formula
bitcoin обналичивание second bitcoin moneybox bitcoin ethereum dark bitcoin puzzle bitcoin png 1070 ethereum minecraft bitcoin bitcoin курс bitcoin wsj
rx560 monero ethereum coin
purse bitcoin
dog bitcoin bitcoin genesis создатель bitcoin people bitcoin
bear bitcoin bitcoin journal bitcoin выиграть bitcoin команды карты bitcoin bitcoin swiss ethereum block bitcoin video bitcoin hd wei ethereum обменники bitcoin bitcoin purse
bitcoin nvidia bitcoin play bitcoin мошенничество Earning cryptocurrencies is not only about mining Bitcoin (BTC) anymore. Bitcoin is a proof-of-work (PoW) blockchain where new BTC are generated through an energy-intensive process of solving mathematical tasks, known as 'mining.' Many newer blockchains instead use proof-of-stake (PoS) algorithms which require significantly less energy. The correctness of transactions in PoS blockchains is attested to by people who lock up a certain amount of the cryptocurrency in the protocol. This process, called 'staking' allows the cryptocurrency owners to earn a staking reward for their participation in the network.Implementing cold storage correctly takes technical skill and fine attention to detail. Bitcoin’s private key system exposes a single point of leverage, a private key. As a result, spending from addresses is easy for users and thieves alike. This situation leaves little margin for security errors.ethereum web3 кошелек monero ico monero bitcoin валюты bitcoin xt 2 bitcoin bitcoin hosting bitcoin основы rigname ethereum cryptocurrency wallets ethereum news верификация tether
курсы ethereum cryptocurrency rates график bitcoin fasterclick bitcoin график bitcoin coinmarketcap bitcoin nodes bitcoin bitcoin links bitcoin grafik
logo ethereum ethereum price bitcoin майнить bitcoin play x2 bitcoin китай bitcoin bittrex bitcoin bitcoin loan windows bitcoin капитализация ethereum bitcoin 50 bitcoin википедия bitcoin etherium bitcoin captcha bitcoin stock bitcoin минфин bitcoin redex
bitcoin начало bitcoin maps bitcoin bloomberg best bitcoin bitcoin проект алгоритмы bitcoin web3 ethereum hashrate bitcoin зарабатывать bitcoin купить monero bitcoin биржа mooning bitcoin otc bitcoin 50 bitcoin hacking bitcoin вложения bitcoin bitcoin qiwi криптовалют ethereum ethereum crane Some investments are insured through the Securities Investor Protection Corporation. Normal bank accounts are insured through the Federal Deposit Insurance Corporation (FDIC) up to a certain amount depending on the jurisdiction. Generally speaking, Bitcoin exchanges and Bitcoin accounts are not insured by any type of federal or government program. In 2019, prime dealer and trading platform SFOX announced it would be able to provide Bitcoin investors with FDIC insurance, but only for the portion of transactions involving cash.12Ethereum’s current mining process is almost the same as bitcoin’s.The Ethereum blockchain: Ethereum's entire history – every transaction and smart contract call is stored in the blockchain.explorer ethereum bitcoin исходники котировка bitcoin exchange ethereum decred ethereum keys bitcoin bazar bitcoin bitcoin traffic
100 bitcoin обвал bitcoin bitcoin stealer bitcoin analysis json bitcoin github ethereum wallpaper bitcoin bitcoin tx ethereum raiden ethereum developer kurs bitcoin ставки bitcoin bye bitcoin bitcoin надежность kinolix bitcoin bitcoin xpub
mine ethereum monero usd ico bitcoin
okpay bitcoin cranes bitcoin bitcoin терминал ethereum bonus ethereum обвал
bitcoin spinner seed bitcoin monero usd bitcoin валюты
bitcoin yen bitcoin weekly bitcoin софт bitcoin кэш advcash bitcoin эфир bitcoin бесплатные bitcoin bitcoin usd bitcoin server адрес bitcoin clicker bitcoin eos cryptocurrency bitcoin monkey location bitcoin ethereum котировки bitcoin конвертер bitcoin koshelek
avatrade bitcoin bitcoin nodes 50 bitcoin аккаунт bitcoin bitcoin сша ethereum ротаторы ethereum miners будущее ethereum wordpress bitcoin legal bitcoin bitcoin рубли cryptocurrency chart second bitcoin
график bitcoin bitcoin магазины график monero bitcoin окупаемость деньги bitcoin сатоши bitcoin ethereum cryptocurrency android tether bank cryptocurrency java bitcoin взломать bitcoin video bitcoin minergate bitcoin msigna bitcoin bitcoin stellar проверить bitcoin tails bitcoin bitcoin clock ethereum валюта code bitcoin
bitcoin cap исходники bitcoin deep bitcoin bitcoin count bitcoin основы tether clockworkmod monero proxy удвоить bitcoin Very securebitcoin кошелек cryptonight monero bitcoin fees pro100business bitcoin monero price майнить ethereum сбербанк bitcoin bitcoin лотереи bux bitcoin ethereum habrahabr panda bitcoin alpari bitcoin
сети bitcoin bitcoin cap dark bitcoin bitcoin prominer bitcoin доллар ethereum обменять bitcoin перевод магазин bitcoin *****p ethereum
лучшие bitcoin hacking bitcoin monero free golang bitcoin x2 bitcoin pplns monero bitcoin бизнес bittorrent bitcoin sberbank bitcoin bitcoin wallpaper rus bitcoin As you can see, the previously-described pattern appears. In the year or two after a halving, the price tends to enjoy a bull run, sharply overshoots the model, and then falls below the model, and then rebounds and finds equilibrium closer to the model until the next halving.bitcoin комиссия ethereum poloniex
currency bitcoin
