Network-Enhanced Virtual Machine (NEVM)
What is Network-Enhanced Virtual Machine (NEVM)?
The Network-Enhanced Virtual Machine (NEVM), created by Syscoin (SYS) in collaboration with Blockchain Foundry, is an evolutionary computing protocol that combines the programmability of Ethereum and EVM (or the Ethereum Virtual Machine) compatible smart contracts with the security provided by the Bitcoin network.
The NEVM basically gives the Bitcoin network access to smart contracts. This is achieved by providing scalable, interoperable smart contracts that can enable widespread adoption while keeping cheap gas costs and enabling decentralized settlements protected by the Proof-of-Work (PoW) security model used by Bitcoin.