Report: Bear market did not dent growth in verified smart contracts

In Q2, bear-market sentiment in the cryptocurrency market did not hinder the continued increase in the number of verified smart contracts and the overall growth Web3. This conclusion was reached by аналитики BNB Chain.

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In the context of shrinking venture capital funding, the sustained momentum points to the resilience of interest in blockchain solutions.

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Growth in the number of verified smart contracts across several blockchains reflected increased attention to security and scalability in Web3.

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Experts found that the leading blockchains have succeeded in attracting developers and users. This points to a strengthening of project diversity across the ecosystem.

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Leading in this regard remains BNB Chain, which expanded its market share from 38% to 45%.

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Ethereum firmly retained its position as the second-largest network by the cited metric, accounting for 34% of the total number of verified smart contracts (31% at the end of Q1).

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Experts noted a marked increase in developers’ interest in L2-solutions for Ethereum — Arbitrum and Optimism. The share of the first jumped from 0.9% to 4.5%, and that of the second from 1.2% to 1.5%.

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The ecosystem Fantom has taken a less prominent role. The share of verified smart contracts in this network fell from 3.3% to 1.4% of the total.

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Industry-wide, development continued for the blockchains Polygon and Avalanche, whose market shares ranged roughly between 10-12% and 2.2-2.7%, respectively.

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Earlier, Binance проанализировали the six-month dynamics of the crypto market.

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On July 14, the largest crypto exchange by trading volume celebrated its sixth anniversary. In honor of the milestone, the platform’s CEO Changpeng Zhao thanked employees, recalled key milestones in the company’s history, and shared plans for the future.

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