Like Java, C and many other languages, Rust is a statically typed language. That is to say that you know what form a variable will take explicitly before you ever run your code. If you're coming from typescript then you're familiar with the principal, even if it is a little stricter than you're used to.
Rust allows you direct access to memory in much the same way that you can in C or C++, but like JS, it has garbage collection. Unlike other languages, however, Rust takes a unique approach to its memory management. It aggressively removes data from memory based on the idea of "ownership". Rust keeps track of what part of your code "owns" the variable, and which have "borrowed" it. If the owner is no longer running and no other part of the code is currently borrowing it, then the variable is removed from memory; freeing it up for other uses.
Rust 1.0 came out May 15th 2015, after starting life as yet another piece of tech from the bowels of Mozzila personal projects over 10 years earlier (2006). You'd be forgiven for thinking it was a recent invention given the increase in hype during the last couple of years but I suppose that's because the Rust Foundation (Founded by Amazon, Huawei, Google, Microsoft and Mozilla in 2021) has proved incredibly successful. That is to say, Rust has a pedigree that many wouldn't even have considered.
In April of 2021, Google announced in a blog post that the Android platform would also begin to use Rust for the further development of their operating system due to its improvements in type and memory safety over C++.
On a slightly tangential note, which I promise will be relevant once I explain it, Web Assembly has proved massively powerful, in part due to projects like emscripten which allows other languages to be compiled to web assembly. This has resulted in many compiled languages being able to be used as part of web frontends alongside regular JS.
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