Programming language compiler Cairo is currently the third largest smart contract language in Total Value Locked (TVL), according to DeFiLlama. data.
As of December 26, Cairo’s TVL is $418.23 million. By comparison, his TVL for layer-1 blockchain network programming languages like Solana (SOL) Rust is $396.22 million, while Cardano (ADA)’s Haskell TVL is $53.27 million.
Solana’s Last Decrease
A year ago, Solana’s Rust TVL was about $12 billion. This coincides with a time when Layer 1 networks were considered Ethereum’s main competitor.
Since then, the network has had to contend with a series of outages, and connections with Sam Bankman-Fried’s crypto empire have created clouds around the project.
According to DeFiLlama data, Solana has a TVL of $214.92 million, lagging behind other blockchain networks such as Avalanche (AVAX), Polygon (MATIC) and Cronos (CRO).
Meanwhile, ecosystem SOL’s native token is down over 90% in 2022. Currently trading at $11.20, multiple analysts predict the asset will be worth zero.
In addition, popular Solana NFT projects such as y00ts and DeGods have announced that they will bridge to Polygon and Ethereum in 2023.
Crypto YouTuber Brian Armstrong (BitBoy) explained the situation with Solana, saying: Said:
“Even if the coin falls more than 90%, there is no death penalty. but, Solana We also lost a whopping 90% of our developers. And in that momentum he is 100%. “
Ethereum-related languages dominate
Meanwhile, the dominant smart contract language is Ethereum’s Solidity, with a TVL of $50.4 billion. Christian Reitwiessner, Alex Beregszaszi, and several of his previous Ethereum core contributors developed the language.
Vyper is the second largest smart contract language with a TVL of $3.98 billion. This programming language is also used to develop smart contracts compatible with the Ethereum Virtual Machine (EVM).
Cairo was created in 2020, but gained popularity in 2022 due to the growth of Starknet’s Zero-Knowledge (ZK) rollup ecosystem (a Layer 2 network running on Ethereum). Several protocols such as decentralized exchanges dYdX, ImmutableX, Celer, Canvas, Sorare and other dapps run on the network.
The above suggests that the top three programming languages by TVL are related to the Ethereum network.
