Analysts see an increase in the number of verified smart contracts. During the second quarter, networks such as BNB Chain, Ethereum, Polygon, Fantom, Avalanche, Arbitrum and Optimism recorded an increase in verified smart contracts in percentage terms. BNB Chain remains the market leader. 46.5% of all smart contracts are deployed on this blockchain. Ethereum is in second place with a 31.3% share.
Statistics on the number of verified smart contracts. Source: BNB Chain
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The growing number of verified smart contracts across multiple blockchains suggests that “projects are placing a high value on security, reliability and scalability in the blockchain ecosystem”. In addition, BNB Chain, sees this dynamic as a sign of industry resilience even in a bear market.
According to BNB Chain, this is a sign of the industry’s resilience even in a bear market.
What’s in store for blockchains
The following are the long-term trends that experts have identified based on the second quarter data:
- Tier 2 solutions will gain popularity because of their scalability and cost-effectiveness.
- Security of smart contracts will become a high priority for blockchain projects.
- Crypto platforms will increase investment in advanced cryptography and auditing.
- When choosing a blockchain, developers will focus on user-friendliness.
“Given the shift in developer preferences toward user-friendly blockchains with lower transaction fees, we expect innovations aimed at improving the performance and ease of use of blockchains,” the report said.
“ Blockchain developers will focus on user-friendliness,” the report said.
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What will happen with regulation
Regulatory scrutiny will increase along with the evolution of the cryptosphere. Compliance in certain regions will be key for developers and cryptocurrency companies. Therefore, analysts advise companies to keep abreast of regulatory changes and comply with regulators’ requirements.
“Regulatory scrutiny is likely to intensify. Compliance will be of key importance to organizations and developers,” the report said.
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