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What is Solidity? - Crypto in Plain English - Episode 262 - by cryptohunt.it
What is Solidity?
Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. My name is Christian Byza, Co-Founder of Cryptohunt.it and I am your host of this daily show.
Today’s episode is about Solidity, which is a programming language invented by the Ethereum creators. And you don’t have to be a programmer to understand why it is so useful.
Ethereum was the first blockchain to introduce what we call “programmable money” - the ability to write your own logic into the blockchain. Before Ethereum, all you could do with crypto was to move money around. With Ethereum, you could suddenly make that money flow based on your own conditions.
And that’s really important if you want to rebuild the traditional financial system on a blockchain. Because paying each other is just a small part. We do all kinds of other, more complex things: from getting interest on savings accounts to trading stocks.
Solidity was invented to make all that happen. Developers use it to write code that decides where and how blockchain money moves. You could, for example, write a program that pays interest on people’s deposits.
Now you will ask: Aren’t there already enough programming languages? Did they really have to invent yet another one? Kind of, yes, actually. The issue with generic programming languages is that they are just that, generic. Which makes them powerful, but big and slow.
But with Ethereum and similar blockchains, you have tens of thousands of computers independently running the same code to make sure they all come to the same conclusion, so nobody can cheat. And at that scale, every little bit of efficiency counts.
And that’s why Solidity exists, and is so important. You don’t see it, but next time you look at an NFT or buy Ethereum: It’s the programming language of money that makes it all happen.
Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.
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By cryptohunt
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What is Solidity?
Welcome to the Cryptohunt Jam, where we spend one minute a day to explain crypto. In plain English. My name is Christian Byza, Co-Founder of Cryptohunt.it and I am your host of this daily show.
Today’s episode is about Solidity, which is a programming language invented by the Ethereum creators. And you don’t have to be a programmer to understand why it is so useful.
Ethereum was the first blockchain to introduce what we call “programmable money” - the ability to write your own logic into the blockchain. Before Ethereum, all you could do with crypto was to move money around. With Ethereum, you could suddenly make that money flow based on your own conditions.
And that’s really important if you want to rebuild the traditional financial system on a blockchain. Because paying each other is just a small part. We do all kinds of other, more complex things: from getting interest on savings accounts to trading stocks.
Solidity was invented to make all that happen. Developers use it to write code that decides where and how blockchain money moves. You could, for example, write a program that pays interest on people’s deposits.
Now you will ask: Aren’t there already enough programming languages? Did they really have to invent yet another one? Kind of, yes, actually. The issue with generic programming languages is that they are just that, generic. Which makes them powerful, but big and slow.
But with Ethereum and similar blockchains, you have tens of thousands of computers independently running the same code to make sure they all come to the same conclusion, so nobody can cheat. And at that scale, every little bit of efficiency counts.
And that’s why Solidity exists, and is so important. You don’t see it, but next time you look at an NFT or buy Ethereum: It’s the programming language of money that makes it all happen.
Disclaimer: This podcast references our opinion and is for information purposes only. It is not intended to be investment advice. Do your own research and seek a duly licensed professional for investment advice.