Despite the ongoing bear market, Q2 2023 has observed a remarkable increase in verified smart contracts across major blockchains, indicating persistent commitment to development in the blockchain space.
The second quarter of 2023 has witnessed a significant surge in verified smart contracts across various blockchains, including BNB Chain, Ethereum, Polygon, Fantom, Avalanche, Arbitrum, and Optimism. The expansion is indicative of the industry's resilience and the increasing demand for blockchain-based solutions.
Data shows BNB Chain dominated the smart contract market share with an average of 46.5% during Q2 2023, while Ethereum followed at 31.3%. Other blockchains like Polygon, Fantom, Avalanche, Arbitrum, and Optimism also demonstrated considerable verified smart contract activity.
These figures reflect the continuous growth and development of smart contracts applications within the blockchain ecosystem, despite the bear market conditions and a funding decrease from venture capital.
Layer 2 solutions, such as zkBNB on BNB Chain and Arbitrum, Optimism on Ethereum, have been gaining increasing traction to address the scalability and cost issues of base layers. These developments signal not only the industry's enduring relevance, but also a focus on improving security, trust, and scalability.
Experts predict that the trends of Q2 2023, including emphasis on security, adaptability, diverse blockchain ecosystem, usability innovation, and regulatory landscape, will carry forward and gain momentum into Q3 2023 and beyond.
