Compiled bytecode instead of an interpreted VM
Ethereum smart contracts are typically written in Solidity, compiled to EVM bytecode, and then that bytecode is interpreted by the Ethereum Virtual Machine at runtime, an abstraction layer that gives every EVM chain a consistent execution environment regardless of the underlying hardware. Solana programs work differently. They are most commonly written in Rust (C and C++ are also usable), compiled ahead of time to a native-like bytecode format (BPF, Berkeley Packet Filter, adapted for on-chain use), and that compiled bytecode is what actually gets deployed and executed on validators. There's no interpreted virtual machine standing between the compiled program and execution in the way the EVM stands between Solidity and the hardware.
This matters for a few reasons beyond just raw speed. Rust's compiler enforces strict memory safety and ownership rules at compile time, which eliminates entire categories of bugs (dangling pointers, data races, certain classes of memory corruption) before the program ever reaches the chain, something that has to be handled far more manually, or via external tooling and auditing convention, in Solidity development. The tradeoff is a steeper learning curve: Rust's ownership model is notoriously demanding for developers coming from higher-level or interpreted languages, and combining it with Solana's account-passing conventions means there's real upfront investment before a developer becomes productive.