a lost quarter, others find that the smart contracts industry remains resilient. Even though the crypto space suffered from lower investments from venture capital firms, developers continue to deploy smart contracts, signaling a growing demand for blockchain-based solutions.an increase in verified smart contracts. According to the report, platforms like BNB Chain, Ethereum, Polygon, Fantom, Avalanche, Arbitrum and Optimism all recorded a percentage increase in verified smart contracts in Q2.
Number of smart contracts verified weekly from September 2022 to the end of June 2023. Source: BNB Chain BNB Chain said that the rise in verified smart contracts across multiple blockchains highlights the “increasing importance placed on security, reliability, and scalability within the blockchain ecosystem.” The firm also wrote that this underscores the industry’s resilience despite bear market conditions.
Based on the data it collected for the second quarter, the company predicts some potential trends that may continue throughout the year. According to BNB Chain, there may be continuous momentum in layer-2 solution adoption because of their scalability and cost-effectiveness. The report also predicts a focus on smart contract security, with crypto platforms investing more in advanced cryptography and audits.
As crypto market prices remained low, venture capital funding also recorded one of its worst quarters. On July 6, data showed that Q2 of 2023 recorded one of the lowest quarters in terms of crypto fundraising. Despite this, executives working in the crypto industry have largely