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Can anybody explain this, please?

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From the definition of Blockchain it is a distributed ledger. So smart contracts are also a part of the distributed ledger (in Ethereum context) and hence stored in every node of the network. Every time you change the state of the contract (if a state variable changed via a contract's function call), such instructions get executed in every node and new state stored in every node.

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  • So every transaction runs in every node at same time Correct? – gupta_hargobind Dec 18 '17 at 13:30
  • Not at the same time as nodes are distributed, but eventually all transactions get executed in every full node. – Chim Dec 18 '17 at 13:33
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On Ethereum, whenever a smart contract is executed, the network comprising thousands of mining computers will process it.

Smart contracts written in a specific programming language, like Solidity, are compiled into 'bytecode' that will be executed by the 'Ethereum Virtual Machine' or EVM. This EVM can read and execute the smart contracts.

All nodes execute contracts using their own EVMs.

Image by Maria Kuznetsov Image by Maria Kuznetsov.

The EVM will execute a smart contract with whatever rules that you or the developers have programmed. The computation on the EVM is achieved through a stack-based 'bytecode' language.

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