Alchemy: “Deployment of smart contracts on the Ethereum network increased by 293%”

Infrastructure company Alchemy has published a report on a study that was conducted using data from a number of sources, including Dune Analytics, DappRadar and Github.

The number of smart contracts on the Ethereum mainnet deployed in the fourth quarter of 2022 increased by 453% QoQ to 4.6 million, according to the report.. The authors of the report say that during the same period, there was a 187% increase in the number of deployed r-contracts on the Goerli Ethereum testnet.. On an annualized basis, the number of smart contracts grew by 721%, reaching a level of 2.7 million.

Alchemy analysts concluded that, despite the serious problems faced by the crypto industry, activity in the field of Web3 development has increased over the past year.

“The Web3 developer community has proven to be extremely resilient. Our report demonstrates that they are more focused and motivated than ever to build the future of this ecosystem, despite the events of 2022,” said Jason Shah, head of development at Alchemy.

Jason Shah said that in December last year, Alchemy conducted a survey among 985 Web3 developers. The survey showed that 94% of developers will continue to work in this area in 2023. According to the expert, this confirms the general conclusions of Alchemy and an optimistic forecast for the near future. To adequately perceive the situation in the Web3 application market, it is necessary to understand that the number of deployed smart contracts does not mean an equivalent increase in investment activity and funds invested by venture capital companies in Web3.

Alex Thorn, head of research at Galaxy Research, said that the amount of investment in Web3 and crypto startups in 2023 may be significantly reduced.. According to Thorne, the downward trend in investment volumes will continue until the end of the year, until global macroeconomic conditions improve.