Ethereum Smart Contract Launches Reach New Level – Trustnodes

Ethereum Smart Contract Launches Reach New Level

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Ethereum smart contracts reach a new all time high, October 2020

The amount of verified daily new smart contracts on the ethereum network has reached a new high of 309 as pictured above.

They have risen from about 70 a day to between 200 and 300 new contracts every day.

More interestingly, rather than a spike that fades off, this new level of hundreds of contracts a day has been maintained for more than a month.

Suggesting there has been a change in the demand for the ethereum network, especially services on it through smart contracts.

Decentralized finance (defi) is likely the spark, with this growth beginning during summer when defi took off.

Rather than peaking off however, a new base appears to have been set as the activity of Solidity developers increases and maintains the momentum.

Defi too continues to command more than $11 billion in locked assets, with a so called bear market in that space not quite reflected in network data.

Token transactions are up, with other stats too like the present one suggesting rather than a fad, new continuous value has been created.

It may thus be the case that the price of some tokens was over-inflated due to speculators flipping coins, but in the medium and long term this new level of activity and thus demand, clearly is promising and indicative of new solutions that appear to be attractive to many users.

Now there’s even templates for smart contracts, with this area potentially opening new innovation frontiers as devs develop more experience at the rate of 300 new projects a day.

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