Ethereum

The Deployment Of Ethereum Smart Contracts In 2022 Increased By 293%

Key Points:

A new report from Alchemy shows that compared to 2021, the number of smart contracts deployed on Ethereum increased by 293% in 2022, reaching a growth rate comparable to last year’s peak.
According to the report, the number of smart contracts deployed in Q4 2022 increased by 453% quarter-on-quarter to 4.6 million. Additionally, in Q4 2022, the deployment of smart contracts on the Ethereum Goerli test network grew by 187%, up 721% year-on-year, reaching a record high of 2.7 million.
It is worth noting that the peak of this activity occurred in Q4 of 2022 when the FTX crash caused a large amount of money outflow.

A new report from Alchemy shows that compared with 2021, the number of smart contracts deployed on Ethereum increased by 293% in 2022, reaching a growth rate similar to last year’s peak.

Data was gathered for the research from a number of sources, including Dune Analytics, DappRadar, and Github, among others.

According to the report, the number of Ethereum smart contracts deployed in the fourth quarter of 2022 increased by 453% quarter-on-quarter to 4.6 million. In addition, in this quarter, the deployment of smart contracts on the Ethereum Goerli testnet increased by 187%, a year-on-year increase of 721%, reaching a record high of 2.7 million.

Source: Alchemy

Surprisingly, this activity peaked in the fourth quarter of 2022, right before FTX collapsed and caused significant money outflows on the biggest exchanges in the sector.

In addition, Alchemy’s poll of 985 developers in December revealed that 94% of them were dedicated to creating in Web3, highlighting an optimistic outlook despite the current crypto winter.

Web3 development activity has increased dramatically over the past year, despite the significant challenges the crypto industry has encountered.

The company reported that more than 100,000 applications flooded in after the opening of its Alchemy University in October, demonstrating a strong interest in developing Web3 development abilities.

Source: Alchemy

According to the report, the ecosystem is expanding due to developer resiliency, inventiveness, and faith in blockchain-based technology despite the schemes and scandals that sapped consumer confidence in cryptocurrencies throughout Q4.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.