What does differ it from the others? This virtual machine will be able to execute smart contracts, which could contain direct links to user secure UI (user interface) from the server!
A wallet was the only tool for user key operations. Before! It was used for transaction signatures if tokens are transferred to other users.
Now we are creating a new instrument with the same functionality and primary purpose of safe signature for operations within a smart contract.
Our VM is Wasm based, thus it could run at any LLVM compatible devices (smartphones and so on). Like this we are able to improve our UX and decrease server load;
Now we are putting the finishing touches on Virtual Machine and adjusting it to real use cases. Soon it will be ready to create and process customizable interfaces as well as get the state of a smart-contact on client devices.
The release of the first version is scheduled for November, so please, expect it a lot!