Did you know about Smart Contract and Solidity? If you are a cryptopreneur, you have come across the words Smart Contract and solidity once in your lifetime. Well, let us dive into the Smart Contract first. Generally, smart contracts are programs that are stored and executed on a blockchain. It is an attempt to furnish the blueprint for ideal security that carries out the relationship between parties when an event exists with code, making it highly secure and predictable.
Hope, you are clear about Smart Contract. Let us step into Solidity. Smart Contract seeks programming, Solidity is the tool for the job. Solidity was recommended earlier in 2014 and later developed by Ethereum’s Solidity team. Proceed further to know what Solidity is and how it is utilized in the Ethereum ecosystem.
Solidity is an object-oriented, and high level programming language chiefly used to develop smart contracts to initiate transactions on the blockchain. Being a high-level language, Solidity accepts to type code in Zeros and Ones which seems to be much simpler for humans to write programs with numbers and letters.
To mention, with the support of inheritance, hectic user-defined types and libraries, Solidity is statically typed. Hence, the user should specify each variable and the data types which lets them verify the precise use of variables. In short, the data types of solidity are usually classified as either reference types or value types.
The major contrast between the reference types and value types can be sorted out in how they are allotted to a variable and saved in the Ethereum Virtual Machine (EVM).
Changing the value in one variable in the value type will not affect the value in another variable, whereas in reference type, variables should get modified and come with updated values.
Hence, it is evident that writing Ethereum Smart Contracts is not complex anymore with the highly reliable object-oriented language called Solidity. Well, Let us discuss the Use cases of Solidity.
Solidity programming supports all the data types of OOPS languages like
Boolean - If the condition is true, the data type returns “1” and “0” when it is false as per the condition’s status.
Integer - One can sign or unsign integer values in Solidity which also supports runtime expectations and the keywords ‘uint8’ and ‘uint256’
String - String is denoted by single or double quotes
Modifier - The modifier frequently verifies for any rational condition before the execution of smart contract code.
Array - The solidity program’s syntax is similar to other OOP languages which supports both single and multi-dimensional arrays.
Besides, Solidity programming lets you to Map data structures with enums, operators, hash values and so on.
Rather than the primary functionality of solidity programming, there are several other features that cause it to have an edge over other Etherum languages.
The programming accepts complex member variables and complex data.
Furnishes an Application Binary Interface (ABI) to ensure type safety. If the compiler finds out the mismatched data type for any variable, the ABI generates an error.
It refers to the ‘Natural Language Specification’ that is utilized to convert user-centric specifications into language for easy understanding of machines.
Several decentralized applications and cryptocurrencies undergo Ethereum’s ecosystem. All sorts of organizations and businesses use Smart Contracts and let various trending technologies develop on Ethereum.
Non-Fungible tokens and Fungible tokens are developed on various standards in the Ethereum ecosystem. To point out, in Non-Fungible and Fungible tokens, Smart Contracts are developed with Solidity.
Solidity permits diverse types of Ethereum use cases which lets people utilize tokens and non-fungible tokens on Ethereum. With Ethereum, it is possible to mint non fungible tokens, Add non-fungible to yield farming pools and so on.
A new sort of online organizational structure called DAO ( Decentralized Autonomous Organization) is written with Solidity which lets several people come together as members on an online platform where they can vote on the DAO’s key decisions. With Solidity, it is possible to automate processes within the DAO.
Hope, it is distinct for you about Soldity in Ethereum. Then it is essential to know about EVM and smart contracts to make you crystal clear on the topic.
The EVM furnishes a runtime environment for Ethereum Smart contracts.
EVM is well-versed in preventing Denial-of-service attacks and chiefly concerned with ensuring the security and execution of untrusted programs.
Smart contracts refer to high-level program codes compiled into EVM before executing on the Ethereum blockchain.
It enables seamless transactions that are easily traceable and irreversible without the involvement of any intermediaries.
The smart contracts are written using popular programming languages like Solidity, Serpent, LLL and Mutan.
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