02 Aug 2023

BNB Chain Innovation reports growth of verified smart contracts despite a bear market in Q2 2023, underscoring the increasing demand for blockchain-based solutions.

Takeaways:

Multiple blockchains attracted developers and users, highlighting a diverse ecosystem that fosters innovation.
BNB Chain exhibited a significant rise in market share, increasing from 38% at the beginning of Q2 to 45% by the end of the quarter.
Ethereum maintained its position as the second-largest blockchain for verified smart contracts. It exhibited steady growth, with percentages ranging from 31% in April 2023 to 34% in June 2023.
Polygon demonstrated resilience in verified smart contracts, starting at 10.8% in April, 2023 and consistently maintaining a presence in the range of 10-12% throughout Q2 2023.
Fantom’s verified smart contracts percentages started at 3.3% in April, 2023 and gradually declined to 1.4% by June 2023.
Avalanche demonstrated a relatively stable performance in verified smart contracts, with percentages ranging from 2.2% to 2.7% throughout Q2 2023.
Arbitrum showcased remarkable growth in verified smart contracts, starting at 0.9% in April 2023 and reaching 4.5% by June 2023.
Optimism demonstrated consistent growth in verified smart contracts, starting at 1.2% in April 2023 and reaching 1.5% by June 2023.

The report also includes inputs from industry experts and founders of dApps that saw the highest growth in Q2 on BNB Chain, with their thoughts on the development of the Web3 ecosystem and what it signifies for the future of the industry.

Overall, the Q2 report highlights the increasing importance placed on security, reliability, and scalability within the Web3 ecosystem, as evidenced by the rise in verified smart contract activities across multiple blockchains. It also observes a growing emphasis on security and trust, as well as a stable momentum in the adoption of Layer2 solutions.

Access the report here: https://lnkd.in/e2Rq-NmS

New market report shows growth in verified smart contracts