Forming the core of the blockchain’s architecture, the EVM is the program that executes its application code or smart contracts, as they are called, providing a run-time environment for them that runs on top of the Ethereum network. What’s more, the EVM is Turing-complete and can thus run any program coded in any programming language, thereby allowing developers to easily create custom smart contracts and DApps for the burgeoning Web3 space.

In addition to these important functionalities, EVM has access to all nodes in the network, handles smart contracts execution and effectively handles all transactions on the Ethereum blockchain, making it one of the most powerful virtual machines in existence today.