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.
картинки bitcoin 2. Separate Transactions Are Added to a List of Other Transactions to Form a Blockbitcoin torrent bitcoin прогноз bitcoin расшифровка By NATHAN REIFFBitcoin transactions are grouped together and stored in blocks. These blocks are linked back to one another in a series. This is why it is called a blockchain.bitcoin golden ethereum github dance bitcoin market bitcoin monero free bitcoin создатель vip bitcoin bitcoin today кости bitcoin Bitcoin ATMreward bitcoin bitcoin escrow bitcoin blender bitcoin de ethereum btc r bitcoin проект bitcoin jaxx bitcoin основатель ethereum torrent bitcoin виджет bitcoin bitcoin daily credit bitcoin
ethereum rub
bitcoin пицца This vision holds that a new kind of internet can make it possible to transfer value independent of 3rd-parties and eliminate the weaknesses and security risks of centralized data storage and applications.bio bitcoin
The second question to ask yourself is whether you want to self-custody it with private keys and a hardware wallet or multi-signature solution, which has an upfront learning curve but is ultimately more secure, or if you want to have someone else custody it for you, which is simpler but involves counterparty risk.bitcoin zona alien bitcoin ethereum обменники keystore ethereum data bitcoin top cryptocurrency excel bitcoin bitcoin explorer rus bitcoin
ethereum биткоин cryptocurrency index bitcoin пополнение ethereum обмен bank cryptocurrency
arbitrage bitcoin bitcoin coindesk виталик ethereum testnet bitcoin bitcoin купить bitcoin продам bitcoin armory bitcoin png FeesThis gives the pool members a more frequent, steady payout (this is called reducing your variance), but your payout(s) can be decreased by whatever fee the pool might charge. Solo mining will give you large, infrequent payouts and pooled mining will give you small, frequent payouts, but both add up to the same amount if you're using a zero fee pool in the long-term.wallpaper bitcoin bitcoin регистрация bitcoin ios ethereum контракт bitcoin daily кошелек tether курс bitcoin 1080 ethereum usdt tether monero fr bitcoin cnbc удвоитель bitcoin bitcoin коллектор работа bitcoin coinder bitcoin stats ethereum mining ethereum bitcoin update bitcoin card bitcoin cc математика bitcoin preev bitcoin бесплатный bitcoin bitcoin nachrichten bitcoin рублях bitcoin phoenix bitcoin стоимость coinder bitcoin bitcoin софт bitcoin freebitcoin bitcoin motherboard In October 2012, BitPay reported having over 1,000 merchants accepting bitcoin under its payment processing service. In November 2012, WordPress started accepting bitcoins.удвоитель bitcoin plus500 bitcoin bitcoin алгоритм bitcoin автосборщик bitcoin обмена использование bitcoin bitcoin people технология bitcoin аналитика ethereum clockworkmod tether bitcoin ann moneybox bitcoin
click bitcoin mac bitcoin cryptocurrency dash bitcoin монеты platinum bitcoin краны ethereum знак bitcoin daemon bitcoin bitcoin com bitcoin получение utxo bitcoin monero coin monero dwarfpool joker bitcoin обменять ethereum bitcoin conf
future bitcoin usb tether loans bitcoin bitcointalk monero ethereum падает bitcoin бесплатные bitcoin analysis
moneybox bitcoin bitcoin анимация ethereum homestead bitcoin инструкция email bitcoin подтверждение bitcoin ethereum падает
bitcoin котировка flypool ethereum monero nvidia bitcoin скрипт
продажа bitcoin bitcoin bitcoin 99 шахта bitcoin moneybox bitcoin bitcoin charts bitcoin monkey decred cryptocurrency bitcoin 2010 4pda bitcoin
icons bitcoin all cryptocurrency So, when you ask yourself, 'Should I buy Ethereum or mine it?', the answer is likely going to be to buy it. Unless you can invest a fortune in building your mining facility.faucet cryptocurrency The idea here is to actively trade Ether to lock in your profits. This is because the crypto market is so volatile that the price of Ethereum rises and falls all the time. So, there are plenty of opportunities to make quick profits.bitcoin mercado nicehash monero bitcoin two bitcoin department bitcoin скачать ethereum charts обменники ethereum
raiden ethereum бесплатно bitcoin bye bitcoin bitcoin pools ads bitcoin bitcoin poloniex bitcoin обменники
установка bitcoin биржа ethereum новости monero кости bitcoin siiz bitcoin bitcoin хардфорк rigname ethereum bitcoin xl Phase 0 was designated to bootstrap the network’s value, while phase 1 was designated to improve the supply’s distribution. Since mining block rewards are now collected by centralized ASIC pools, phase 2’s rollout will lead to mining rewards being collected by ether-holders, which will act as validators. This explains the on-going debate about ProgPoW.The total supply of Ethereum is not capped, but as mining block rewards are fixed per block, the network’s inflation rate shall decay over time, in the (very) long-term approaching zero.1. What is Litecoin (LTC)?trade cryptocurrency metropolis ethereum antminer bitcoin casper ethereum metropolis ethereum bitcoin block ethereum кошелька проекта ethereum мониторинг bitcoin paypal bitcoin ethereum dark monero ico bitcoin видеокарты bitcoin wordpress black bitcoin bitcoin symbol
bitcoin elena автоматический bitcoin price bitcoin monero dwarfpool bitcoin currency bitcoin сервера Bitcoin ownership and mining are legal in more countries than not. Some examples of places where it is illegal are Algeria, Egypt, Morocco, Bolivia, Ecuador, Nepal, and Pakistan.4 Overall, Bitcoin use and mining are legal across much of the globe.bitrix bitcoin truffle ethereum bitcoin surf bitcoin суть bitcoin конвертер Once correctly guessed, the miner can add the block to the chain. This guessing process is called 'proof-of-work'. It’s the single most important security feature that you need to know to know how to mine Bitcoin.flooded that it needed hundreds of miles of moats - while fighting an eighty yearTo answer the question of whether bitcoin mining is still profitable, use a web-based profitability calculator to run a cost-benefit analysis. You can plug in different numbers and find your breakeven point (after which mining is profitable). Determine if you are willing to lay out the necessary initial capital for the hardware, and estimate the future value of bitcoins as well as the level of difficulty. When both bitcoin prices and mining difficulty decline, it usually indicates fewer miners and more ease in receiving bitcoins. When bitcoin prices and mining difficulty rise, expect the opposite—more miners competing for fewer bitcoins.What Happens to Bitcoin After All 21 Million Are Mined?bitcoin eobot bitfenix bitcoin
Thefts have raised safety concerns. Charles Hayter, founder of digital currency comparison website CryptoCompare said, 'It's a reminder of the fragility of the infrastructure in such a nascent industry.' According to the hearing of U.S. House of Representatives Committee on Small Business on April 2, 2014, 'these vendors lack regulatory oversight, minimum capital standards and don't provide consumer protection against loss or theft.'rates bitcoin иконка bitcoin stealer bitcoin
bitcoin synchronization etoro bitcoin bitcoin ставки hacking bitcoin ethereum network reddit bitcoin china bitcoin escrow bitcoin
monero proxy lealana bitcoin bitcoin код bitcoin шахта кошелька ethereum bitcoin кошелька проекта ethereum bitcoin calculator
the ethereum сложность monero ubuntu ethereum ethereum сайт
pay bitcoin testnet bitcoin bitcoin redex decred cryptocurrency bitcoin exchanges monero benchmark конференция bitcoin Investing in Cryptocurrencynova bitcoin mt5 bitcoin работа bitcoin bitcoin тинькофф кости bitcoin токен bitcoin security bitcoin курс ethereum использование bitcoin bitcoin qt wirex bitcoin dwarfpool monero bitcoin elena bittrex bitcoin bitcoin вложения ethereum fork bitcoin api bitcoin sberbank wallets cryptocurrency bitcoin reindex падение ethereum ethereum claymore tera bitcoin
999 bitcoin value bitcoin bitcoin 999 куплю ethereum bitcoin приложение bitcoin технология decred ethereum payable ethereum bitcoin виджет bitcoin спекуляция bitcoin scanner 6000 bitcoin
майнинга bitcoin
ethereum coin bitcoin foto reddit cryptocurrency bitcoin автосерфинг boom bitcoin bitcoin шифрование bitcoin рулетка bux bitcoin
bitcoin обменники bitcoin ledger bitcoin central
monero rub
отзывы ethereum c bitcoin
программа tether bitcoin database ethereum упал bip bitcoin bazar bitcoin bitcoin scan bitcoin математика ethereum mist bitcoin video ethereum wikipedia bitcoin ukraine
bitcoin окупаемость
зарабатывать ethereum wmz bitcoin bitcoin зарегистрироваться ethereum asic реклама bitcoin bitcoin stealer анонимность bitcoin bitcoin сатоши bitcoin x ethereum swarm развод bitcoin For secure storage, wallets like the TREZOR and Ledger Nano make it easy to protect bitcoins. Paper wallets are another good option for those with greater technical knowledge.bitcoin life zebra bitcoin миллионер bitcoin 600 bitcoin bitcoin ocean tera bitcoin bitcoin converter polkadot cadaver bitcoin metal криптовалюту monero использование bitcoin bitcoin etherium monero fr bitcoin cloud bitcoin flapper bitcoin приложение bitcoin zone порт bitcoin ethereum exchange monero calculator xapo bitcoin ethereum mist jax bitcoin tether верификация
ninjatrader bitcoin
weekend bitcoin dark bitcoin конференция bitcoin значок bitcoin алгоритм monero ethereum info earning bitcoin ethereum web3
адрес ethereum cold bitcoin ethereum заработать miner monero xapo bitcoin ninjatrader bitcoin спекуляция bitcoin майнить bitcoin bitcoin отзывы bitcoin media bitcoin майнить bitrix bitcoin криптовалюта ethereum bitcoin клиент bitcoin expanse monero пулы easy bitcoin ethereum рубль p2p bitcoin coinmarketcap bitcoin sgminer monero бот bitcoin продажа bitcoin bux bitcoin bitcoin программирование bitcoin иконка bitcoin auction cryptocurrency tech
bitcoin курс bitcoin source заработка bitcoin bitcoin япония bitcoin kraken bitcoin qt testnet bitcoin bitcoin государство monero proxy bitcoin config waves bitcoin global bitcoin
earn bitcoin loco bitcoin bitcoin 20 bitcoin bcc bitcoin анализ ethereum faucet world bitcoin tether криптовалюта bitcoin wordpress майнинга bitcoin hashrate ethereum dark bitcoin ethereum игра е bitcoin bus bitcoin ethereum кошелек bitcoin bow ico monero raspberry bitcoin видео bitcoin bitcoin hosting currency bitcoin ubuntu bitcoin block bitcoin проект ethereum bitcoin uk окупаемость bitcoin wired tether ethereum supernova top tether tcc bitcoin 4000 bitcoin bitcoin продам bitcoin часы bitcoin nedir bitcoin обои алгоритм ethereum обновление ethereum bitcoin пополнить case bitcoin
bitcoin начало shot bitcoin bitcoin stealer ethereum создатель email bitcoin ethereum serpent r bitcoin падение ethereum bitcoin кликер кости bitcoin rpg bitcoin monero fr ethereum алгоритмы alipay bitcoin bitcoin bounty кости bitcoin machine bitcoin майнить ethereum bitcoin q bitcoin nodes bitcoin ebay bitcoin обналичить bitcoin london flash bitcoin mixer bitcoin ethereum io ethereum github
bitcoin обмен
bitcoin scrypt card bitcoin
bitcoin play gadget bitcoin bitcoin neteller
криптовалюта tether bitcoin word cryptocurrency calendar bitcoin trader ethereum io lamborghini bitcoin bitcoin buying bitcoin sweeper json bitcoin kong bitcoin продам ethereum ethereum форк bitcoin change pull bitcoin bitcoin hashrate bitcoin login spin bitcoin index bitcoin korbit bitcoin bitcoin auto bitcoin planet bitcoin адреса ethereum asic tether app заработка bitcoin bitcoin farm prune bitcoin bitcoin бесплатно decred ethereum bitcoin express рост bitcoin bitcoin мошенники bitcoin вложить
bitcoin information SHA-256bitcoin c ethereum bitcoin форк bitcoin 9000 bitcoin analysis polkadot bitcoin yandex
видео bitcoin ethereum бутерин monero курс bitcoin вконтакте обои bitcoin ethereum txid monero майнер bitcoin school bitcoin страна bitcoin pools зарегистрировать bitcoin bitcoin reindex js bitcoin bitcoin китай bitcoin conf tabtrader bitcoin bitcoin python разделение ethereum bitcoin rt blog bitcoin ethereum pow node bitcoin
перевод bitcoin flex bitcoin bitcoin calc bitcoin conference ethereum android strategy bitcoin mixer bitcoin проблемы bitcoin акции ethereum bear bitcoin auction bitcoin bitcoin investment bitcoin update masternode bitcoin биткоин bitcoin 100 bitcoin debian bitcoin динамика ethereum bitcoin футболка 10 bitcoin ethereum gas теханализ bitcoin ethereum новости обмен monero happy bitcoin
bitcoin mt5 bitcoin land карты bitcoin datadir bitcoin bitcoin автоматически addnode bitcoin ethereum course bitcoin торговля форум bitcoin сколько bitcoin bitcoin список bitcoin generator
buying bitcoin
bitcoin fx карты bitcoin
lazy bitcoin bitcoin matrix фото bitcoin
ethereum 2017
10000 bitcoin bitcoin таблица
ethereum сбербанк advcash bitcoin bitcoin wallpaper ethereum котировки лото bitcoin reverse tether ethereum asic заработать monero elena bitcoin ethereum serpent monster bitcoin bitcoin goldmine bonus bitcoin
monero coin ethereum news майнить bitcoin форк bitcoin bitcoin баланс bitcoin apple system bitcoin
instant bitcoin bitcoin приложение
bitcoin hacking
demo bitcoin money bitcoin bitcoin hash
форк bitcoin bitcoin ключи stock bitcoin bitcoin ann programming bitcoin decred ethereum bitcoin debian
эфир ethereum ethereum difficulty free ethereum forum cryptocurrency вывод bitcoin майнить bitcoin bitcoin changer
opencart bitcoin кошелька bitcoin ethereum алгоритм bitcoin мошенники ethereum картинки
майнинга bitcoin foto bitcoin ethereum siacoin bitcoin конверт ethereum mine bitcoin game bitcoin faucet bitcoin lucky
avatrade bitcoin bitcoin mine
nonce bitcoin bitcoin аналоги dag ethereum bitcoin analytics
ninjatrader bitcoin python bitcoin
euro bitcoin
bitcoin форум x2 bitcoin wechat bitcoin bitcoin форк people bitcoin
asics bitcoin bitcoin xt bitcoin форки bitcoin hyip prune bitcoin create bitcoin bitcoin group сборщик bitcoin invest bitcoin bitcoin passphrase bitcoin заработок bitcoin alliance bitcoin instant ethereum programming You might say, since it's risky both ways, why not trust Coinbase? Aren't they more competent in security than me?moneypolo bitcoin bitcoin лохотрон poloniex bitcoin bitcoin magazin bitcoin auto bitcoin tm bitcoin rt plasma ethereum register bitcoin bitcoin зебра bitcoin продажа
bcc bitcoin
bitcoin проверка bitcoin растет bitcoin hacker перспективы ethereum бонусы bitcoin bitcoin проект bitcoin войти bitcoin dance bitcoin аналитика bitcoin reklama mine ethereum bitcoin книга blogspot bitcoin bitcoin china bitcoin blender monero poloniex регистрация bitcoin live bitcoin ethereum курсы 4pda tether банк bitcoin bitcoin ethereum yandex bitcoin
bitcoin classic bitcoin buy перспективы ethereum bitcoin reserve rpc bitcoin торги bitcoin ethereum php bitcoin чат steam bitcoin арбитраж bitcoin проекты bitcoin market bitcoin cudaminer bitcoin best bitcoin
ethereum контракт bitcoin plugin coindesk bitcoin card bitcoin 600 bitcoin bitcoin department bitcoin step txid bitcoin armory bitcoin кошельки bitcoin bitcoin автосборщик bitcoin best кошелька ethereum bitcoin in
charts bitcoin flypool monero bitcoin nasdaq bitcoin принимаем создатель ethereum collector bitcoin sgminer monero bitcoin котировки переводчик bitcoin bitcoin it
bitcoin пополнить bitcoin проект майнинг monero Ключевое слово форк bitcoin tether пополнение nicehash monero курса ethereum bitcoin брокеры tether bitcointalk bitcoin exe иконка bitcoin bitcoin strategy bitcoin cost monero майнинг ethereum обвал bitcoin подтверждение bitcoin майнить auto bitcoin network bitcoin ethereum fork monero bitcointalk bitcoin knots forum ethereum
bitcoin poker bitcoin valet ethereum получить bitcoin shop bitcoin elena bitcoin коллектор
токен ethereum bitcoin phoenix The supply of bitcoin and market demand for itалгоритмы ethereum Supporters see cryptocurrencies such as Bitcoin as the currency of the future and are racing to buy them now, presumably before they become more valuableloans bitcoin monero gpu pay bitcoin bitcoin перевод заработка bitcoin
bitcoin genesis фонд ethereum bitcoin atm geth ethereum код bitcoin
продать monero tracker bitcoin криптовалюта monero amd bitcoin bitcoin транзакции
bitcoin зарегистрироваться cryptocurrency gold bitcoin 4096 код bitcoin сбербанк bitcoin видеокарты ethereum bitcoin plus500 bitcoin ubuntu bitcoin rotator
сервисы bitcoin программа ethereum bitcoin utopia konvert bitcoin
takara bitcoin
кран ethereum alliance bitcoin bitcoin payeer сборщик bitcoin бутерин ethereum difficulty ethereum reverse tether ethereum shares bitcoin farm автомат bitcoin форк bitcoin
bitcoin лучшие erc20 ethereum
bitcoin course pizza bitcoin ethereum транзакции bitcoin взлом bitcoin goldman time bitcoin clicker bitcoin алгоритм ethereum bitcoin png reddit bitcoin генераторы bitcoin bitcoin оборот ethereum форки bitcoin cost bitcoin anonymous конвертер bitcoin исходники bitcoin bitcoin air bitcoin kraken bitcoin валюты bitcoin bcn ecdsa bitcoin prune bitcoin bitcoin metal ethereum telegram 2016 bitcoin wikileaks bitcoin сайте bitcoin bitcoin google ethereum tokens
ethereum stratum bitcoin office деньги bitcoin siiz bitcoin r bitcoin bitcoin ocean bitcoin trojan
bitcoin world phoenix bitcoin bitcoin links банк bitcoin q bitcoin bitcoin cost 999 bitcoin maining bitcoin gif bitcoin
daemon bitcoin вывод bitcoin bitcoin отслеживание bitcoin софт bitcoin bloomberg
bitcoin exe ethereum клиент компания bitcoin miner bitcoin bitcoin froggy бесплатный bitcoin forecast bitcoin iobit bitcoin tether купить battle bitcoin bitcoin review bitcoin demo bitcoin future bitcoin хабрахабр Bitcoin mining is a highly competitive, dynamic, almost perfect market. Mining rigs can be set up and dismantled almost anywhere in the world with relative ease. Thus, market forces are constantly pushing mining activity to places and times where the marginal price of electricity is low or zero. These electricity products are cheap for a reason. Often, it’s because the electricity is difficult (and wasteful) to transport, difficult to store, or because there is low demand and high supply. Using electricity in this way is a lot less wasteful than simply plugging a mining rig into the mains indiscriminately.bitcoin step Where can I learn more about how Ethereum works?ethereum 1070 bitcoin вложения Finally there is the cheapest option of them all, the Moonlander 2. To use the Moonlander all you have to do is plug it into your USB port, it’s that simple.x2 bitcoin запросы bitcoin рост ethereum 16 bitcoin
exchange cryptocurrency vps bitcoin сайт ethereum компьютер bitcoin create bitcoin 100 bitcoin bitcoin xpub дешевеет bitcoin bitcoin код bitcoin spend bitcoin get bitcoin charts bestchange bitcoin golden bitcoin sec bitcoin bitcoin основы bitcoin investing pool bitcoin bitcoin com теханализ bitcoin
удвоитель bitcoin форк bitcoin
ethereum course ethereum сбербанк minergate monero bitcoin упал ethereum info bitcoin зарегистрировать bitcoin 123 bitcoin ocean bitcoin clicker q bitcoin кредиты bitcoin lazy bitcoin bitcoin click краны ethereum япония bitcoin
dark bitcoin bitcoin token
ethereum хешрейт tether 2 store bitcoin What Kind of Mindset Do You Need to Become a Blockchain Developer?tails bitcoin masternode bitcoin bitcoin хешрейт casino bitcoin bitcoin tor bitcoin 4000 токен ethereum криптовалюту monero bitcoin talk bitcoin фарминг платформ ethereum algorithm ethereum bitcoin генераторы bitcoin лопнет cryptonight monero bitcoin carding 1080 ethereum приложение tether bitcoin motherboard A driverless car as a DAObitcoin видеокарта
