OCT 05, 2021
By: Algorand
The complexity of building blockchain applications is one of the biggest hurdles to widespread blockchain adoption. Algorand addresses this challenge by providing a highly developer-friendly blockchain that allows developers to code applications using various programming languages and deploy them on the blockchain with ease. Read on to learn more about what makes Algorand such a developer-friendly blockchain ecosystem. Building on Algorand Is Easy Algorand aims to make blockchain accessible to everyone. The Algorand ecosystem represents a multipurpose and multifunctional network that can support all types of digital assets, smart contracts, and blockchain-powered applications. To create new assets, such as utility tokens, non-fungible tokens (NFTs), or tokenize real-world assets, developers can use the Algorand Standards Assets (ASA) framework. This allows them to build the assets on Algorand’s Layer-1 within a few minutes and thus benefit from all the great features of Layer-1, including true decentralization, unmatched security, high throughput, and speed, among others. Developers can deploy the tokenization process directly on Layer-1 through a simple transaction. The assets are highly configurable and can be revoked or frozen. Minting and maintaining ASAs is super cheap, as Algorand charges fractions of a penny for transaction fees. Also, ASAs benefit from interoperability among all Algorand assets. Thus, besides a developer-friendly experience, the low-cost minting and universal interoperability of assets are other important aspects supporting the fast adoption of the technology. The great thing about Algorand is that developers can build assets by using a programming language they’re familiar with. Algorand supports Java, JavaScript (node.js and browser), Go and Python SDKs, REST APIs, as well as many community SDKs, such as rust, swift, PHP, dart, C#, etc. The same is true about smart contracts. Algorand offers a next-generation smart contract framework that allows enterprises and developers to build more complex, flexible, and faster applications while making the process easy. Algorand’s Smart Contracts (ASC1s) are trustless programs that execute on-chain and thus are integrated into the Layer-1, which enable them to access the network’s features related to speed, instant finality, security, and scaling potential. On Algorand, smart contract developers can develop stateful and stateless contracts through a programming language called Transaction Execution Approval Language (TEAL), although the contracts can also be written in Python and then compiled to TEAL via the PyTeal library. However, today there are way more possibilities besides TEAL. Algorand Virtual Machine (AVM) Powers More Capabilities and Use Cases Earlier this year, Algorand introduced the Algorand Virtual Machine (AVM) as part of its software release 2.7.1 protocol upgrade. This makes smart contract development even simpler by allowing developers to build smart contracts in multiple languages.
Paul Riegle, Chief Product Officer at Algorand, explained:
“Developers who have already written and deployed smart contracts on Algorand have interacted with earlier versions of the AVM through the use of Teal and have given us feedback which allowed us to rapidly iterate and improve the AVM.”
The newly released AVM 1.0 enables the frictionless creation and execution of “transactions” (pay, transfer, configs, and freezes) within one single powerful smart contract, providing developers with the functionalities needed to build scalable blockchain applications with ease.
Whereas most chains require developers to build applications using multiple smart contracts, dApps and blockchain applications on Algorand can be built using one powerful smart contract.
What’s more, smart contracts can now be Turing-complete and support looping, making it easier to develop Web 3.0 applications, DeFi protocols, and mint NFTs.
As a result, AVM and smart contracts can power a wide range of use cases including but not limited to:
Crowdfunding
Voting
Bond Issuance
Escrow account creation
Loan payments
Subscriptions
Cross-chain Atomic Transfers
Interface with off-chain data providers
Programmatic recurring fees
Decentralized exchanges
Aside from the fact that asset creation and smart contract deployment processes are easy, Algorand also introduced a newly redesigned Algorand Developer Portal that streamlines the adoption of Algorand’s latest capabilities including AVM’s Smart Contract. Algorand provides much-needed support with a great library of tutorials, documentation, comprehensive end-to-end dApp building guides, blockchain basics and much more for developers.
For example, there are step-by-step tutorials with all the needed documentation to perform all possible activities and processes, including:
Build smart contracts;
Initiate atomic transfers;
Mint new assets;
Build applications;
Build NFTs.
The portal is a gem for developers as it contains useful material for any possible use case and situation. There is also a forum where the Algorand community members share experiences. Algorand Makes Blockchain Accessible to Everyone Algorand puts great emphasis on making its ecosystem developer-friendly to ensure greater adoption of blockchain among individuals, businesses, organizations, and governments. The blockchain is focused on promoting adoption through all possible means, including by building a multifunctional ecosystem for all blockchain use cases, paying much attention to performance and features, as well as securing meaningful partnerships within the blockchain world. Last but not least, in order to ensure greater adoption and long-term sustainability, Algorand is working to become the most efficient and greenest blockchain available. It recently pledged to become fully carbon neutral. Thanks to several partnerships, including with ClimateTrade – a leader in CO2 emissions transparency and traceability – Algorand will offset its small carbon footprint and even become carbon negative. Silvio Micali commented: “Algorand is experiencing accelerated adoption and network expansion. As this period of hyper growth continues, we find it crucial to operate at a carbon-negative level. Indeed sustainable growth is way better than growth.” Algorand is poised to become the leading blockchain network to build the future of finance, thanks to its focus on security, scalability, decentralization, and sustainability, and by providing a developer-friendly ecosystem.
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