Solidity

Solidity Smart Contracts on Ethereum

Ethereum is used to build any kind of smart contract. The core purpose behind Ethereum is decentralization. As they do not run on any one server or computer: they execute on the blockchain that is distributed across the globe. Ethereum performs through a proof-of-work, means every computer on the network comes to an agreement about the transaction before it is getting any approval.

Ethereum smart contracts make it possible to create as well as manage assets, both tangible and intangible – privately, securely and at an economic cost. It’s one of the most exciting value-added feature is automation.

User data is extremely secure against theft or hacking as all Ethereum applications and smart contracts run on a blockchain. It is decentralized so, there’s no risk of service disruption in case an accident, human error or natural disaster to make a server go offline. The foremost benefit of decentralization is that there is no single point of failure.

Smart contracts allow two parties to organize a secure value exchange without a need for a middleman. You don’t need to be in the same place or use the same currency to sign a secure deal.

Smart contracts are immutable – they are witnessed by hundreds of other blockchain users. The coded agreement cannot be altered by either party without the community being notified.

Smart contracts are time-sensitive and can be programmed to cover a very specific time frame. They start and end automatically.

Ethereum Solidity: Key Features

  • Solidity functions on the basis of “If-This-Then-That” logic. It takes high-level, human-readable code and breaks it down into specific instructions, more understandable for machines.

 

  • Solidity is compiled to bytecode that is executable on the EVM.

 

  • It has a similar syntax to JavaScript and C++, making it easier to learn blockchain development basics for those with respective skills. The source code for Solidity  is even written in C++.

 

  • Solidity is statically typed, supports inheritance, libraries and complex user-defined types.

 

  • Apart from Ethereum, Solidity can be used for programming smart contracts on other platforms such as Monax and its Hyperledger; Burrow blockchain; Tendermint, Counterparty, and Zeppelin by Digital Currency Group.

 

  • At the moment, Solidity is supported by several integrated development environments – Remix, the official Solidity IDE; Microsoft Visual Studio; Tendermint on Microsoft Azure by PWC, and Hyperledger Burrow (formerly eris-db).

 

  • Solidity Dapp development is often done within the Truffle Framework which allows developers to combine popular JavaScript libraries with the web3.js Ethereum JavaScript API and a local EVM called Ganache into a workflow that is identical to MEAN or MERN stack web development.

Find out how Reliable Group can get your smart contracts up and running with Solidity for Ethereum