ADA Finance, a Cross-Dual-Chain DeFi ecosystem built on both Cardano and Avalanche, today announced a collaboration with blockchain developer academy BitDegree to create an initiative to introduce software developers to programming language Haskell.

The Haskell Academy Program is an initiative that offers in-depth training for Haskell, bridging the skills shortage that has seen Cardano (and the wider cryptocurrency and blockchain community) struggle to find and retain experienced developers.

Ultimately, the initiative aims to encourage those developers to build on the popular Layer 1 blockchain platform Cardano, which has seen a record growth in both market capitalization, and utility since the start of 2021. The creation of this new language is a bid to sustain this growth in the future by ensuring Cardano-based platforms are built prudently and securely according to ADA Finance.

ADA Finance’s efforts to train aspiring blockchain developers, as well as other growth-focussed operations such as its launchpad and DAO program, have earned a nomination for “Best DeFi PRoject of the Year” at the 2021 AIBC Summit in Malta.

But what is Haskell and why is it necessary for the future of Cardano?

Haskell - DeFi’s Newest Language

Haskell is a compiled programming language developed in 2010, designed for teaching, researching, and industrial application. It falls within the “purely functional” set of programming languages that denotes a type of computer software development that views computer programs as the evaluation of mathematical functions.

In this respect, it is similar to popular programming languages Python and Solidity, which also take the functional approach, with all three being classed as “high-level” languages. Python and Solidity are both common languages employed in the DeFi space, with the latter most notable being used for the development of smart contracts - the building blocks of DeFi.

Haskell is a compiled language, rather than interpreted like both Python and Solidity, making it much faster. This is optimal for mainstream DeFi applications which often have a high volume of operations. However, it also creates a steeper learning curve for blockchain developers, which in turn has prevented it from overtaking several other high-level languages for building in the DeFi space.

Nevertheless, Cardano developers see its potential for building sustainable DeFi applications in the future, both within the Cardano ecosystem and beyond.

Investing in Skills

ADA Finance’s collaboration with BitDegree seeks to leverage this potential by bridging the knowledge gap with regards to Haskell programming. The Haskell Academy will offer detailed training for up to 20 programmers whilst simultaneously creating awareness for development within the Cardano ecosystem. Each graduate of the academy will also receive official certification from BitDegree and be offered a paid internship with ADA Finance or sponsors of the program.

Moreover, the academy could pave the way for Haskell to become commonly used within DeFi programming more broadly as other ecosystems see the benefits of building on Cardano using the advanced language. Not only does this mean Cardano will have the resources to ensure sustainable development far into the future, but Haskell Academy also addresses the skills shortage which is pervasive in the DeFi space. This is despite DeFi being one of the fastest growing fintech spaces in the world at present.

The Blockchain Platform of the Future

Indeed, ADA Finance is hoping the initiative will cement Cardano’s position at the forefront of decentralized development, with ADA Finance playing a leading role in the Cardano ecosystem and DeFi more broadly.

No doubt, this a key contributor to the decision to nominate ADA Finance for AIBC’s “Best DeFi project of the year” which seeks to recognize projects or organizations that have made significant contributions to blockchain technology, artificial intelligence and other emerging technologies throughout the year. This year’s awards also feature community-driven DeFi project Safemoon and ABEYFoundaton has been developing a permissionless Proof-of-Work and Proof-of-Stake hybrid consensus mechanism throughout the year. The event will take place in Malta from November 15th -19th, 2021.

ADA Finance itself has had a year filled with exciting developments for the Cardano ecosystem as it prepares for the launch of the first-ever Cardano-based smart contracts. If all goes well, this will allow most of the DeFi applications built on Ethereum to be compatible with Cardano which in turn, will position the Cardano ecosystem, and ADA Finance as a serious alternative to the world’s largest smart contract platform.

For more on ADA Finance, BitDegree and their new programming initiative Haskell Academy, visit the ADA Finance website here.