What is Solidity? | CryptoWallet.com

What is Solidity?

Solidity is a high-level programming language used to develop smart contracts primarily on the Ethereum blockchain and on other blockchains. Solidity is similar to one of the most common programming languages like JavaScript, C++, and Python. If you are familiar with any of these languages, learning Solidity will be quite easy as well.

Solidity eliminates the need to type code in ones and zeros. It makes it much easier for humans to write programs in a comprehensive way using a combination of letters and numbers. 

Recently, more and more companies are building new blockchain applications. Many of these solutions are created using Solidity. Smart contracts built using Solidity ensure that people making transactions on the blockchain do not have to worry about risks such as fraud or not being able to use the same currency.

Should I learn Solidity?

With regards to earnings, Blockchain Developer is one of the most profitable careers today on a global scale. This happens because demand for Solidity developers exceeds the availability of it. Hence, a Blockchain Developer’s income is usually quite high, whether you choose to work at a Blockchain company or build your own application.

Due to the fact that Solidity is a programming language used to build applications on Ethereum and EVM chain, it’s a programming language that is often used by blockchain developers today.

Limitations of Solidity programming

Even if Solidity can program almost any outcome as a general-purpose language is very easy to write and quick to deploy, writing secure smart contract code is very difficult. Most hackers in the crypto space actively look for weaknesses in Solidity programming to drain accounts of funds. 

Following the recent rise of  DeFi markets, there have been many instances of this happening. A digital asset research firm Messari, reported that about $284 million had been lost to DeFi hacks since 2019. 

Recently, most projects now use blockchain security audit firms and independent third parties to assess code for weaknesses. However, this doesn’t totally guarantee that all weaknesses of a smart contract will be identified on time.

The fact that blockchains are immutable is another limitation. Once a developer publishes a Solidity code to the blockchain, they can’t edit or tweak it. This is why apps like Uniswap have versioning. When the developers want to make changes and introduce new features, they can’t simply add them to the existing version—they must publish an entirely new version to the blockchain.