Execution environments are the distinct operational contexts or virtual machines within which smart contracts and decentralized applications run on a blockchain. These environments dictate the programming language, gas mechanics, and state management rules that govern code execution. They are critical for ensuring that computations are performed deterministically and securely across the network. Understanding different execution environments is key to grasping the capabilities and limitations of various blockchain platforms.
Context
The current landscape of execution environments is characterized by intense development and competition, with notable advancements in areas like WebAssembly (WASM) and specialized virtual machines designed for high throughput. Debates frequently arise concerning the security implications of new execution models and their compatibility with existing smart contract standards. Future developments are expected to introduce more efficient and flexible environments that can support a wider array of complex decentralized applications.
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