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The Ethereum Virtual Machine (EVM) is the decentralized computation engine that powers the Ethereum blockchain. It is a virtual machine that enables smart contracts to be executed on the Ethereum network. These smart contracts are self-executing contracts with the terms directly written into code, allowing for trustless and automated transactions. The EVM provides a runtime environment for these smart contracts, ensuring they operate as programmed without interference.

One of the key features of the EVM is its ability to execute code exactly as intended, which is crucial for maintaining the integrity and security of the blockchains like Ethereum and Hela Chain. Developers write smart contracts in high-level programming languages like Solidity, which are then compiled into bytecode that the EVM can interpret and execute. This bytecode is the same across all nodes, ensuring consistency and reliability in how smart contracts function.

The importance of the EVM extends beyond blockchain networks, as it has become a standard for other blockchain platforms aiming for compatibility with Ethereum. This compatibility allows developers to deploy their applications across multiple networks, enhancing interoperability within the blockchain ecosystem. In summary, the EVM is fundamental to every blockchain's operation, enabling decentralized applications and smart contracts to function securely and reliably.