Report: Number of smart contracts deployed on Ether has increased by more than 40% since the end of Q1

10/13 20:05

A report from Web3 development platform Alchemy shows that the number of smart contracts deployed on Ether has increased by more than 40% since the end of the first quarter, despite the price of Ether falling by around 60% since the beginning of 2022. While DeFi Total Value Lock-in (TVL) has fallen by 69% and NFT transactions are down 88% from Q3 last year, the number of installed Ether libraries in 2022 has increased by 178%. Jason Shah, head of growth at Alchemy, said the biggest takeaway from the data is that price is no longer the only incentive to enter the space. Instead, developers are flocking to Web3 to gain access to technical capabilities. I think the best performance is that the use of software development kits (SDKs) and smart contracts has more than doubled in the last year. The data also shows that 17,736 smart contracts were deployed in September, a record monthly high, which Shah attributes to the ethereum merger and increased enthusiasm for building decentralised applications on the new proof-of-stake chain.

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