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Definitions and terminology related to cryptoeconomics, blockchain and distributed ledger technology.

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Virtual Machine

A virtual machine (VM) is a computer file that emulates a computer system, complete with virtual CPU, memory, and storage. Windows, as ran through VMware Fusion on a macOS, is an example of a virtual machine. Blockchain projects such as Ethereum, EOS, or NEO enable devices connected to the network to collectively run a single virtual machine, contributing their computational power to execute smart contracts and power DApps. Typically, this involves many discrete processors running, with one randomly chosen to be the canonical version of the processing.