The global crypto market cap is $ with a 24-hour volume of $. The price of Bitcoin is $16,736.38 and BTC market dominance is %. The price of Ethereum is $1,218.64 and ETH market dominance is %. The best performing cryptoasset sector is Cannabis, which gained 19%.
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Ethereum-related languages dominate the top three largest smart contract languages by TVL.
Cover art/illustration via CryptoSlate
Programming language compiler Cairo is now the third largest smart contract language by total value locked (TVL), according to DeFiLlama data.
As of Dec. 26, Cairo has a TVL of $418.23 million. In comparison, the programming language of layer1 blockchain networks like Solana’s (SOL) Rust has a TVL of $396.22 million, while Cardano’s (ADA) Haskell TVL is $53.27 million.
A year ago, Solana’s Rust had a TVL of around $12 billion, coinciding with when the Layer-1 network was viewed as a major competitor to Ethereum.
Since then, the network has had to battle a series of outages, and its connection to Sam Bankman-Fried’s crypto empire birthed a cloud around the project.
According to DeFiLlama data, Solana has a TVL of $214.92 million, behind other blockchain networks like Avalanche (AVAX), Polygon (MATIC), Cronos (CRO), etc.
Meanwhile, the native token of the ecosystem SOL is down more than 90% in 2022. It is currently trading at $11.20, with several analysts predicting that the asset’s value will go to zero.
Besides that, popular Solana NFT projects like y00ts and DeGods announced they would bridge to Polygon and Ethereum in 2023.
Crypto YouTuber Brian Armstrong (BitBoy), while describing Solana’s situation, said:
“A coin being down 90%+ is not a death sentence. However, Solana has also lost a whopping 90% of its developers. And 100% of its momentum.”
Meanwhile, the dominant smart contract language is Ethereum’s Solidity, with a TVL of $50.4 billion. Christian Reitwiessner, Alex Beregszaszi, and several former Ethereum core contributors developed the language.
Vyper is the second-largest smart contract language, with a TVL of $3.98 billion. The programing language is also used to develop smart contracts compatible with Ethereum Virtual Machines (EVM).
Cairo was created in 2020 but became popular in 2022 with the growth of StarkNet’s Zero-knowledge (ZK) rollup ecosystem — a Layer-2 network running on Ethereum. Several protocols like decentralized exchange dYdX, ImmutableX, and dapps like Celer, Canvas, and Sorare run on the network.
The above suggests that the top three programming languages by TVL are related to the Ethereum network.
Oluwapelumi is a believer in the transformative power Bitcoin and the blockchain industry holds.
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Ethereum is the community-run technology powering the cryptocurrency ether (ETH) and thousands of decentralized applications.
Solana is a single-chain, delegated-proof-of-stake protocol whose focus is on delivering scalability without sacrificing decentralization or security.
Cardano is a decentralized public blockchain and cryptocurrency project and is fully open source.
Polygon (previously Matic Network) is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.
Avalanche is an umbrella platform for launching decentralized finance (DeFi) applications, financial assets, trading and other services.
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Sam Bankman-Fried is the former CEO, and co-founder of crypto derivatives exchange FTX and Alameda Research.
FTX is a defunct cryptocurrency exchange, currently in bankruptcy proceedings, that was founded by Sam Bankman-Fried and Zixiao “Gary” Wang in May 2019.
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