About

Solidity is a high-level programming language used to write smart contracts on various blockchain platforms, notably Ethereum. It is an object-oriented, statically typed language that was developed in 2014 by Gavin Wood, Christian Reitwiessner, and others. In this report, we will discuss the features of Solidity, its advantages and disadvantages, and how it is going to shape the future of blockchain technology.

There are several notable projects and dApps built using the Solidity programming language. One such project is the Ethereum Blockchain-based Decentralized Preferential E-Voting Smart Contract, which uses Solidity to implement a secure and decentralized voting system. Another project is the Crypto-Spatial smart contracts library, which is designed to serve as a framework for geospatially enabled decentralized applications development. The library is written for the Ethereum Blockchain and is based on Open Geospatial Consortium standards. Another notable project is the Decentralized smart contract software service using Ethereum blockchain non-fungible tokens, which uses Solidity to interact with a collection of non-fungible tokens. The metadata that describes the digital product is directly linked to the blockchain and resides in a decentralized repository for its most reliable and long-lasting existence. Additionally, a generic blockchain framework (GBF) has been proposed for applying two blockchains to dApp systems, one to establish trust and the other to use the trust for securing applications. GBF provides a generally applicable framework and addresses the foundational questions of the blockchain objectives, participants, and the underlying distributed consensus protocol in use.

Available options to start the blockchain development journey

Here are some of the most popular programming languages for blockchain development:

1. Solidity: Solidity is a contract-oriented programming language for writing smart contracts on the Ethereum blockchain.

2. JavaScript: JavaScript is a popular programming language for building decentralized applications (dApps) on the Ethereum blockchain.

3. Go: Go is a programming language developed by Google for building blockchain applications. It is known for its speed and efficiency.

4. Python: Python is a versatile programming language that is used for a wide range of applications, including blockchain development. It is often used for building blockchain prototypes and testing blockchain applications.

5. C++: C++ is a high-performance programming language used for building blockchain applications. It is often used for building the core blockchain infrastructure.

6. Java: Java is a popular programming language for building enterprise-level blockchain applications. It is known for its scalability and security features.

7. Rust: Rust is a systems programming language used for building blockchain applications. It is known for its speed, safety, and concurrency features.

What makes Solidity different from others

1. Solidity is specifically designed for blockchain development.

2. It is an object-oriented language, making it easy to write and maintain code.

3. Solidity is statically typed, which helps prevent errors and makes code more reliable.

4. It is easy to learn for developers who are already familiar with other programming languages.

5. Solidity is open source, meaning that anyone can contribute to its development.

6. It is compatible with other programming languages, making it easy to integrate with existing systems.

7. Solidity is designed to be secure, with built-in features to prevent common security vulnerabilities.

8. It is efficient, with a low gas cost for executing smart contracts on the Ethereum blockchain.

9. Solidity has a large and active community of developers, making it easy to find support and resources.

10. It is constantly evolving, with new features and improvements being added regularly.

Unknown Facts about Solidity

• Solidity is ranked #15 in the TIOBE Index for May 2021, which ranks programming languages by popularity.

• Solidity has over 1.3 million downloads on npm, the package manager for the Node.js ecosystem.

• Solidity has over 4,200 contributors and 7,300 forks on GitHub as of May 2021.

• Solidity has over 5,600 smart contracts deployed on the Ethereum Mainnet, according to Etherscan.

• The largest Solidity smart contract on the Ethereum Mainnetis Tether (USDT), with over $50 billion worth of tokens in circulation.

• The GasToken smart contract, written in Solidity, saves gas costs for other smart contracts and has saved over 3.5 billion gas on the Ethereum network.

• The Solidity compiler has over 2.2 million downloads on npms, as of May 2021.

• The Solidity documentation has over 1.5 million views per month, according to Read the Docs.

• Solidity has over 30,000 questions and answers on Stack Overflow.

• The Solidity programming language has been growing in popularity, with a 239% increase in Google searches for "Solidity" from May 2020 to May 2021.

Projects built on Solidity

Some of the popular projects built using Solidity include:

1. CryptoKitties - a blockchain-based game that allows players to collect, breed, and trade virtual cats.

2. Augur - a decentralized prediction market platform that allows users to bet on the outcome of events.

3. Golem - a decentralized supercomputer that allows users to rent out their unused computing power.

4. MakerDAO - a decentralized lending platform that allows users to borrow and lend cryptocurrency.

5. Uniswap - a decentralized exchange that allows users to trade cryptocurrencies without the need for an intermediary.

6. Aave - a decentralized lending platform that allows users to borrow and lend cryptocurrency with variable interest rates.

7. Chainlink - a decentralized oracle network that provides real-world data to smart contracts.

8. Compound - a decentralized lending platform that allows users to earn interest on their cryptocurrency holdings.

9. Yearn Finance - a decentralized finance platform that allows users to earn a yield on their cryptocurrency holdings.

10. SushiSwap - a decentralized exchange that allows users to trade cryptocurrencies and earn rewards through liquidity provision.

Features of Solidity

Smart Contracts

Solidity is used to create smart contracts on the Ethereum blockchain. Smart contracts are self-executing contracts that are executed automatically when certain conditions are met. Solidity allows developers to create complex smart contracts that can be used for various purposes, including crowdfunding, supply chain management, and more.

Security

Solidity has built-in security features that help to prevent common security vulnerabilities such as reentrancy attacks, integer overflow, and more. These features help to make smart contracts created in Solidity more secure and less prone to hacking.

Object-Oriented

Solidity is an object-oriented programming language, which means that it supports object-oriented programming concepts such as classes, objects, inheritance, and more. This makes it easier for developers to write complex smart contracts and reuse code.

Community

Solidity has a large and active community of developers who contribute to its development and share their knowledge and experience. This community helps to ensure that Solidity remains up-to-date and relevant to the needs of developers.

Advantages of Solidity

Compatibility

Solidity is compatible with various blockchain platforms, including Ethereum, making it a versatile programming language for blockchain development.

Security

Solidity has built-in security features that help to prevent common security vulnerabilities, making it a secure programming language for blockchain development.

Object-Oriented

Solidity is an object-oriented programming language, which makes it easier for developers to write complex smart contracts and reuse code.

Community

Solidity has a large and active community of developers who contribute to its development and share their knowledge and experience.

Disadvantages of Solidity

Learning Curve

Solidity can be challenging to learn for developers who are not familiar with object-oriented programming concepts.

Bugs

Solidity is a relatively new programming language, which may contain bugs that have not yet been discovered.

Limited Libraries

Solidity has a limited number of libraries and tools compared to other programming languages.

Future of Solidity

Solidity is likely to become even more critical in the future of blockchain technology. As more and more businesses and industries adopt blockchain technology, there will be an increasing demand for developers skilled in Solidity. Additionally, as the Ethereum blockchain continues to grow and evolve, there will be new opportunities for Solidity developers to create innovative smart contracts and decentralized applications.

According to a survey conducted by Stack Overflow in 2020, Solidity was ranked as the second most-loved programming language among developers, which indicates its popularity and potential for growth in the future.

10-point summary about Solidity

1. Solidity is a high-level programming language used to write smart contracts on various blockchain platforms, most notably on Ethereum.

2. Solidity was created in 2014 by Gavin Wood, Christian Reitwiessner, and others.

3. Solidity is an object-oriented, statically typed language that compiles to bytecode which runs on the Ethereum Virtual Machine (EVM).

4. Solidity is inspired by C++, Python and JavaScript and is designed to be familiar to developers with experience with these languages.

5. Solidity supports multiple inheritance, user-defined types, and complex user-defined data structures such as arrays, mappings, and structs.

6. Solidity has built-in support for managing Ether, the cryptocurrency used on the Ethereum blockchain.

7. Solidity is designed to be secure and has features to prevent common security vulnerabilities such as reentrancy attacks, integer overflows, and more.

8. Solidity uses a gas-based pricing model, where each operation has a cost in Ether associated with it, which helps to ensure that smart contracts are efficient and do not consume too many resources on the blockchain.

9. Solidity has a large and active community of developers who contribute to its development and share their knowledge and experience.

10. Solidity is an open-source language, and its source code can be found on GitHub.

Books to help you start with your blockchain development career

• Beginning Ethereum and Solidity with React

• Solidity Programming Essentials: A beginner's guide to build smart contracts for Ethereum and blockchain

• Mastering Blockchain Programming with Solidity: Write production-ready smart contracts for Ethereum blockchain with Solidity

Conclusion

Solidity is a versatile programming language for blockchain development that has many advantages, including compatibility, security, and object-oriented programming concepts. It has built-in security features that help to prevent common security vulnerabilities, making it a secure programming language for blockchain development. Solidity has a large and active community of developers who contribute to its development and share their knowledge and experience. While Solidity has some disadvantages, including a learning curve and limited libraries, it is likely to become even more critical in the future of blockchain technology as more businesses and industries adopt blockchain technology.