1 year ago
Programming connection compiler Cairo is present the 3rd largest astute declaration connection by full worth locked (TVL), according to DeFiLlama data.
As of Dec. 26, Cairo has a TVL of $418.23 million. In comparison, the programming connection of layer1 blockchain networks similar Solana’s (SOL) Rust has a TVL of $396.22 million, portion Cardano’s (ADA) Haskell TVL is $53.27 million.
Solana’s Rust decline
A twelvemonth ago, Solana’s Rust had a TVL of astir $12 billion, coinciding with erstwhile the Layer-1 web was viewed arsenic a large rival to Ethereum.
Since then, the web has had to conflict a bid of outages, and its connection to Sam Bankman-Fried’s crypto empire birthed a unreality astir the project.
According to DeFiLlama data, Solana has a TVL of $214.92 million, down different blockchain networks similar Avalanche (AVAX), Polygon (MATIC), Cronos (CRO), etc.
Meanwhile, the autochthonal token of the ecosystem SOL is down much than 90% successful 2022. It is presently trading astatine $11.20, with respective analysts predicting that the asset’s worth volition spell to zero.
Besides that, fashionable Solana NFT projects similar y00ts and DeGods announced they would span to Polygon and Ethereum successful 2023.
Crypto YouTuber Brian Armstrong (BitBoy), portion describing Solana’s situation, said:
“A coin being down 90%+ is not a decease sentence. However, Solana has besides mislaid a whopping 90% of its developers. And 100% of its momentum.”
Ethereum-related languages dominate
Meanwhile, the ascendant astute declaration connection is Ethereum’s Solidity, with a TVL of $50.4 billion. Christian Reitwiessner, Alex Beregszaszi, and respective erstwhile Ethereum halfway contributors developed the language.
Vyper is the second-largest astute declaration language, with a TVL of $3.98 billion. The programing connection is besides utilized to make astute contracts compatible with Ethereum Virtual Machines (EVM).
Cairo was created successful 2020 but became fashionable successful 2022 with the maturation of StarkNet’s Zero-knowledge (ZK) rollup ecosystem — a Layer-2 web moving connected Ethereum. Several protocols similar decentralized speech dYdX, ImmutableX, and dapps similar Celer, Canvas, and Sorare tally connected the network.
The supra suggests that the apical 3 programming languages by TVL are related to the Ethereum network.
The station Ethereum L2 connection Cairo’s TVL surpasses Solana’s Rust appeared archetypal connected CryptoSlate.
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