Gavin Woods</strong></a>, Solidity was developed by Ethereum and its project team. This programming language is <strong>influenced</strong> by other popular programming languages such as <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-javascript/">JavaScript, <a href=https://www.bitdegree.org/"https://en.wikipedia.org/wiki/Python_(programming_language)/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>Python</strong></a>, and <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-c-plus-plus/">C++./nThe <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-ethereum-virtual-machine-evm/">Ethereum Virtual Machine (EVM)</strong></strong></a>, which serves as an abstraction layer between the executing code and the execution machine, interacts with the Solidity programming language. Though since the EVM does not directly compile low-level machine instructions called <a href=https://www.bitdegree.org/"https://en.wikipedia.org/wiki/Opcode/" target=\"_blank\" rel=\"nofollow noindex noopener\"><strong>opcodes</strong></a>, Solidity must be compiled to them manually.</p>\n<p>This programming language is <strong>simple to switch to and use</strong>, especially for individuals with prior programming experience. Solidity is statically typed, which means it checks the program's source code for type mistakes and syntactic difficulties. </p>\n<p>It supports <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-software-library/">libraries, user-defined complex objects, and <strong>inheritance</strong>. In addition, developers are able to design new forms of complex and automated financial, gaming, auction-based, management, and other applications using Solidity.</p>\n<p>Though just like any programming language, <strong>Solidity has some issues</strong>. To begin with, since blockchains are <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-immutable/">immutable, a smart contract that has been deployed cannot be removed or modified in any way. This means that every single line of the Solidity code must be flawless, or it is at risk of being <strong>hacked or exploited</strong>. Besides, the design of Solidity needs to be updated to meet the needs of today’s requirements since it was designed during the time when Ethereum wasn’t deployed.</p>","level":"easy","meta_title":"What is Solidity? Definition & Meaning | Crypto Wiki","meta_description":"Solidity meaning: Solidity - a programming language that is mostly used for developing smart contracts on the Ethereum blockchain.","meta_keywords":null,"language":"en","created_at":"2022-03-30T08:38:22.000000Z","updated_at":"2022-05-13T14:32:24.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-solidity"},"currentChapter":"S","currentSection":"what-is-spac","chapterTitle":"S","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-spac","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter S
What is SPAC?
SPAC MEANING:
SPAC -
a company that has the goal of raising money through an initial public offering (IPO) or merging with a company that already exists.
Let's find out SPAC meaning, definition in crypto,
what is SPAC,
and all other detailed facts.
SPAC stands for special purpose acquisition company and it is a company that has the goal of raising money through an initial public offering (IPO) or through merging with a company that already exists. SPACs are non-commercial entities that are often founded by a group of investors (or sponsors) with the goal of pursuing deals in a specific industry.
The money raised in an IPO by SPACs is placed in an interest-bearing trust account and cannot be distributed unless the SPAC completes an acquisition or returns the money to investors if it is liquidated. They serve as a link between the general public and enterprises that have difficulty obtaining cash.
SPACs are a preferred way for companies to go public without the hassles of a typical IPO or an initial coin offering (ICO), and without the substantial market presence that direct listings require. SPACs are more convenient and faster because, rather than the night before as it is with typical IPOs, corporations acquire assurances from investors early on at an agreed price.
