According to a report from Blockworks, since January 2022, over 637 million Ethereum Virtual Machine (EVM) compatible smart contracts have been deployed on seven different blockchains. Initially, BNB Chain and Polygon were leading in terms of total deployment, but Optimism later took the lead, accounting for over two-thirds of the deployment by 2024.
Data analytics platform Flipside Crypto stated in a report that as scaling solutions become more efficient and user-friendly, the direct deployment of EVM contracts on Ethereum chain is decreasing. This trend is likely to accelerate after the Ethereum Dencun upgrade.
Carlos Mercado, a data scientist at Flipside Crypto, stated in an interview with Blockworks that the data compiled by Flipside shows that Polygon and BSC had the highest deployment of EVM contracts from January 2022 to August 2023. However, Optimism has surpassed other EVM-compatible chains this year. Since January 1, 2024, Optimism has recorded 28.8 million deployments, accounting for approximately 70% of the total deployments observed on the seven chains.
Source:
Flipside
According to Flipside data, the most popular smart contracts among developers on all chains this year are those related to decentralized finance (DeFi), accounting for approximately 34.7% of all “categorized” deployments, higher than the approximately 11.2% in 2022 and 2023.
In terms of contract types, NFT-related smart contracts that drove the bull market in 2021 and 2022 have become less popular over time, with deployment rates dropping from 18.6% before 2024 to 8.2% this year. Flipside suggests that these data may indicate that DeFi will receive more attention in the upcoming bull market.
Source:
Flipside
