Programming languages have become an integral part of the blockchain world today. You can find those applied across various solutions within the current industry, and one such solution is smart contract development.
However, you can use different programming languages to release your smart contract project and with more and more options appearing on the dev market, it has become very difficult to pick the best one.
That is why our IdeaSoft team has prepared a simple guide to help you make the right decision for your smart contract development project! Here, we’ll review the smart contract basics and the top programming languages used for its development.
Let’s get this started!
Table of Contents:
- What Is a Smart Contract & Why It’s Important?
- Best Programming Languages for Smart Contract Development
- Wrapping Up: Which Language Is Best for Smart Contracts?
What Is a Smart Contract & Why It’s Important?
Simply put, a smart contract is a computer program that automatically runs actions according to the terms of the contract without intermediaries.
For instance, with the standard purchasing procedurement, users usually entrust a third-party vendor to transfer the ownership documents after the payment has been completed. However, the smart contract approach allows automation of the action execution immediately after payment is successful.
Smart contracts are extremely important for the blockchain industry, mainly because of the following benefits:
- Improved speed and cost-efficiency
- Simplified and automated action execution
- Authenticity, accuracy, and credibility
Basically, these simplify business between both anonymous and identified parties with minimum to no involvement of an intermediary. Additionally, smart contracts allow for the reduction of human involvement and manual manipulation to perform the action: the contract will operate on its own according to the configured parameters of the agreement.
Best Programming Languages for Smart Contract Development
Just like any other tech solution, smart contracts are based on a particular programming language. These are used to write the contract and implement it directly on the blockchain.
Among a large number of options, Solidity and Rust languages appear to be the most popular picks for smart contract development. Let’s now take a look at their key advantages and some project examples where Rust-based and Solidity-based smart contracts are used.
Solidity
Being an object-oriented and statically typed programming language, Solidity was designed specifically for smart contract development. This language has taken a bunch of similarities from the popular C++, Python and JavaScript languages, which significantly improves the learning curve for developers.
Being initially created by the Ethereum Network team, Solidity is currently one of the most used and stable programming languages for blockchain systems. Similar to how Java works on Java Virtual Machine (JVM), Solidity can smoothly run on the Ethereum Virtual Machine (EVM).
Advantages of Solidity
- General-Purpose Language. Unlike other languages that can run just a few algorithms, Solidity can be used to compute all computable functions. Simple Structure. It provides concepts similar to most modern programming languages (functions, string manipulation, classes, variables, etc), which reduces the chances of code errors.
- Easy access to object-oriented attributes. Smart contracts built in Solidity feature versatile multi-level inheritance traits, where multiple contracts can be mergedinto a single contract.
- Multi-variant support. This language supports the Application Binary Interface or ABI, the interface which connects two program modules (usually operating systems and user programs).
- Multi-chain Compatibility. It supports layer-two blockchains, sidechains and EVM-compatible layer-one blockchains.
- Established Standards. Solidity supports ERC20 and ERC 721 standards, which makes it more versatile and functional compared to other languages.
- Effective Learning Curve. Solidity programming is comparatively simple to the logic of Python, JavaScript and C++ development, which benefits the development speed and high-level reliability. What is more, the language features a variety of excellent developer tools and open-source libraries.
- Large & Accessible Community. Solidity was developed exclusively for smart contract development on the Ethereum Network, which has naturally stimulated strong community development.
Solidity-Based Blockchain Examples
Today, the Solidity language is extremely popular for DeFi solutions, applications and coding solutions of different types and industry relations. Some of the blockchain solutions designed using Solidity programming are Tron, CounterParty, Avalanche, Tendermint, Ethereum Classic, Hedera Hashgraph, and Zhcash.
Additionally, a plethora of leading platforms, such as Ethereum, Binance Smart Chain and Polkadot, have successfully leveraged the advantages of the Solidity programming language for their platforms.
Rust
Another great programming language that has the leading position in smart contract development is Rust. In its seventh year, this language is considered the most preferred language, with 87% of developers saying they want to continue using it, according to the Stack Overflow 2022 Developer Survey.
Rust is an object-oriented smart contract programming language, which, unlike Solidity, was designed as a general-purpose programming language and is not limited to smart contract programs.
Advantages of Rust
- High-Speed and Efficient. Rust is extremely memory-efficient, which is achieved through the principle of ownership and borrowing, as well as eliminating memory-based errors during compilation time.
- Parallel Processing. This feature allows for the execution of multiple smart contracts simultaneously, which improves the high throughput of the computations.
- Predictable Applications. The Rust language is highly popular for writing predictable apps, which are one of the most common types of blockchain-based solutions.
- Convenient and Functional Compiler. A color-coded output and extremely detailed explanation come in handy during the debugging and troubleshooting of code issues.
- Deeper Developer Expertise. Compared to other language options, Rust programming features a higher learning curve that usually drives more experienced developers. This consequently lowers the impact and frequency of code errors and bugs.
Rust-Based Blockchain Examples
Today, Rust smart contract programming is widely applied within and out of the web3 ecosystem, for instance, for Solana, Polkadot or Near Blockchain projects. Additionally, you can find multiple cases of other blockchain solutions powered by Rust. Some of the most popular blockchain projects based on Rust are Amazon Web Services (AWS), Dropbox, Mozilla, Meta (formerly Facebook), Cloudflare, Coursera, and Discord.
Wrapping Up: Which Language Is Best for Smart Contracts?
Now you’ve explored the basics of smart contract development and what programming languages are usually used for these projects. Based on our extensive expertise in the blockchain industry, Rust and Solidity languages are the best options for smart contracts that can significantly enhance a program’s performance and efficiency.
With each of them featuring unique specifications and advantages over the other, the final choice will mainly depend on your project’s specifications and the blockchain you want to work on. Ethereum-based projects are mostly built on Solidity, but if you’re looking for an efficient environment and advanced development expertise, then Rust can be the best option.
Should you need any help with your smart contract development project or a professional quote from the blockchain experts – feel free to reach out to our team! IdeaSoft experts are always here to assist in launching an efficient, profitable and competitive blockchain solution for any market!
