Solidity Definition
Solidity is a high-level, statically-typed programming language primarily used to create smart contracts on Ethereum-based blockchain platforms. It enables the development and implementation of self-executing contractual states, stored on the blockchain.
Solidity Key Points
- Solidity enables the creation of smart contracts on Ethereum-based blockchain platforms.
- It is a statically-typed, contract-oriented language that borrows concepts and syntax from JavaScript and C++.
- The language is designed to engage with Ethereum Virtual Machine (EVM).
- It is widely used by blockchain developers for its operational efficiency and security.
What is Solidity?
Solidity is a highly used programming language developed for writing smart contracts on various blockchain platforms, notably, Ethereum. Introduced in 2014, Solidity is statically-typed, supports inheritance, libraries, and complex user-defined types which makes it highly efficient and secure for operating blockchain contracts.
Who uses Solidity?
Solidity is predominantly used by blockchain developers. Developers working in the domains of fintech, supply chain, voting systems, and other sectors that employ decentralized applications find use of Solidity. It also provides significant importance to data privacy and decentralized control enthusiasts due its blockchain-centric structure and functionalities.
When is Solidity used?
Solidity is used whenever a developer wants to create or implement smart contracts on Ethereum or any other compatible blockchain platforms. Also, it is put into action in the creation of Decentralized Applications (DApps) and during the ICOs to create tokens.
Why is Solidity important?
Solidity is intrinsically linked with Ethereum, the world’s second-largest cryptocurrency network. The language’s capacity to facilitate complex contractual interactions in a secure, decentralized way makes it invaluable to blockchain infrastructures. Its importance extends to its usage in ICOs, DApps and creation tokens.
How does Solidity Work?
Solidity runs on Ethereum’s Ethereum Virtual Machine (EVM). Developers write smart contracts with Solidity, the contracts are then compiled into bytecode and deployed onto the EVM. The EVM executes these contracts in ‘gas’, or computational work – a component of the Ethereum network that is bought and spent to ensure fair resource usage. The execution of Solidity’s smart contracts is governed by this gas mechanic.
