OVM, or Optimistic Virtual Machine, refers to the execution environment used by Optimism, a layer-2 scaling solution for Ethereum. It's designed to be Ethereum-equivalent, meaning smart contracts written for Ethereum can be deployed on Optimism with minimal changes. The 'optimistic' part refers to how transactions are handled; they are assumed to be valid unless challenged during a fraud-proof window. OVM is commonly used to achieve faster and cheaper transactions compared to the Ethereum mainnet.
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