Blog

Why Java is Still a Top Choice for Banks

“Java is C++ with all the guns, knives, and clubs removed” – this creative phrase belongs to James Gosling, one of the creators of Java. 

What is Java

Java is an object-oriented programming language. The main elements of the language are:

• objects – entities with certain properties, behaviors;
• classes – descriptions of the properties, behavior of objects.

The developer builds a program not from complex procedures and functions, but from bricks-objects to which he assigns the necessary properties.

Java is a general-purpose programming language. It has no specific specialization. It is general-purpose and suitable for a variety of tasks. From GameDev to scientific supercomputers, from cell phones to the Internet, Java is used everywhere.

The Java language is inextricably linked to the Java platform, a working environment for creating, running software. During the compilation of an application, intermediate byte code is created on the platform. The JVM converts bytecode into machine commands. Bytecode’s independence of OS and hardware makes it possible to develop cross-platform applications. Learn more about this language here.

History of The Language

In 1991, the folks at Sun Microsystem were working on a language for consumer gadgets. James Gosling was the director of the startup. They wanted to create a technology that would be an alternative to C++. This language was mainly used to develop applications for a particular operating system. Programmers wanted to be independent of the system and hardware.

So in 1995, Java was born, with no “guns”, “knives” or “clubs” of C++. The release of the beta version of the language and the ability to create portable code was a revolution in IT.

At first, the language was named Oak, after the tree that grew under Gosling’s office window. But as it turned out, a language by that name already existed. So Oak was renamed Java, after the coffee brand. After all, all IT people are avid coffee drinkers. That’s why the Java logo shows a cup of coffee.

Benefits of Java

• Saves working time. You write the code once and use it on any platform that supports the JVM. This is how the principle of Java is implemented: “You write it once, run it everywhere”.
• The result is predictable. There are specifications for the language – detailed instructions. Therefore, even with different implementations of the same functionality, the predictable result will be correct.
• Error control. Java is a language with strict static typification. It does not allow you to mix different types of data. For example, if a variable is marked as a number, you can not add a string to it. The final types of variables, functions are set at compile time, not at runtime. Most errors are found at the early stage of development.
• Automatic memory cleaning. The automatic component of the JVM is responsible for garbage collection. The programmer does not interfere with the process of memory cleaning.
• Robust security system. The most vulnerable component in Java is the applet. It is a Java program that runs inside the browser. To protect the applets in Java there are components such as Java program loader, SecurityManager. 

Disadvantages of The Language

The main disadvantage is the high consumption of memory. Java requires more memory than other languages. And also – as of 2019, the Java platform is paid for commercial projects.

But the reliability and cross-platform nature of Java overrides these disadvantages. If you are an eTenet employee and can’t log in to the portal, this will help you: etenet portal login.

How Much Java Is in Demand

Java’s leading position in the rankings for many years proves its consistent success in IT:

• The State of Octoverse 2021 ranking ranks Java third. The source of the ranking is GitHub, the largest web service for hosting, developing IT projects.
• In RedMonk’s June 2021 ranking, Java shared second place with Python. The ranking is also based on GitHub archive data, but the method of ranking is different – the ranking does not take into account repository copies.
• In the TIOBE November 2021 ranking, Java is in third place. The TIOBE index is formed on the basis of search queries in large portals: Google, Blogger, YouTube, Amazon.

Using Java in Banking

Banking systems are usually complex and contain many moving parts. Stability is a fundamental requirement in financial applications. Therefore, it is important that programming languages provide comprehensive support for as long as it may be necessary.

Increasingly, banks are having to compromise between longevity and the constant evolution of the technology industry. Until there is no way out, banks will continue to use Java’s superior capabilities to develop satisfied customers. 

We hope that this article has helped you to understand it.