The EVM (Ethereum Virtual Machine) is a specialized blockchain technology used by various projects like Avalanche, Polygon, Binance Smart Chain, and Phantom. It functions as a cloud computer operated by nodes worldwide, processing smart contract transactions. The EVM accumulates computing power from many individual computers on the network, each running software to compute smart contract outputs. Developers write smart contract code in languages like Solidity, which the EVM processes. Solidity allows developers to predict code behavior, although actual outcomes can be unexpected. The EVM reads bytecode, a series of ones and zeros generated when developers compile their smart contracts.