A rapidly growing DeFi world and overall appetite for Bitcoin and other cryptocurrencies may lead to more developer activity around smart contracts and interest from users, fueling further innovation.
This has all been concerning for teams at Blockstack PBC and Algorand, who want to help the smart contract industry mature beyond its current state. The new Clarity smart contract language takes on some of the fundamental design issues they see in smart contracts today:
- The complexity of smart contract languages has led to unintended security vulnerabilities resulting in immense damage to users.
- New protocols and networks suffer from the bootstrapping problem, demonstrating minimal initial participation, and using centralization as a band-aid.
- In order to find flexibility, developers may end up creating new blockchains, trying various forms of wrapping, or use protocols that allow for more flexibility, often at the expense of security.
DappRadar investigates the new programming language for writing smart contracts - Clarity and explores its benefits to developers.