📄️EVM
EVM is short for Ethereum Virtual Machine the Ethereum state machine, which became de-facto standard platform for smart contract development. You can use Solidity or Vyper to develop for the EVM side of the chain. Also, you can deploy your existing EVM smart contracts from other chains by simply changing deploying settings.
📄️WASM
WASM (WebAssembly) is a standard for web browsers, like Google, Mozilla, and others. It was developed so that code can be deployed in any browser with the same result. Wasm is high-performance, it's as close to native machine code as possible while still being platform-independent. Most importantly, it supports a variety of languages, including Rust, C/C++, C#, Typescript, Haxe, and Kotlin.