WebAssembly (Wasm) is a development framework and instruction format that allows different programming languages to be compiled into a single format. Although initially designed for use in web browsers, Wasm can now run on both client and server applications.
WebAssembly is open-source and was first announced in 2015, with the first version launched in 2017, subsequently becoming a World Wide Web Consortium (W3C) standard. Proponents of Wasm may point to several advantages, such as its security, performance, convenience, and flexibility, resulting from an attempt to combine the benefits of both assembly and high-level languages.
WebAssembly is now also commonly used throughout the blockchain industry and is perceived by some as an alternative to the EVM.