Solana Sees Surge in Unique Contracts Since January, Bolstering Ecosystem

• Unique contract deployments on the Solana network have surged since January, indicating a thriving ecosystem.
• This increase shows creators’ continued faith in the network, despite recent outages.
• Solana Labs has formed an adversarial team to improve the blockchain’s stability, according to co-founder Anatoly Yakovenko.

The number of unique contract deployments on the Solana network has surged since the beginning of 2023, according to data from blockchain analytics platform, Artemis. At the time of writing, there are currently 75 unique contract deployments active in the network from 40 total deployers.

Growing Unique Contract Deployments: Data Breakdown

Based on the data, the number of unique contracts deployed rose to 87 in the first week of January, representing a 125% increase from the last week of December’s 39. The surge peaked during the second and third weeks of January, when 98 unique contracts were recorded.

What are unique contracts deployment?

A unique contract deployment is a type of smart contract deployment that uses a distinct contract code, designed to be one-of-a-kind and unreplicable in a blockchain network. Since the contract code is intended to be unique, it cannot be copied or used in other ways. Unique contract deployments are commonly used to create non-fungible tokens (NFTs), such as digital collectibles and artworks.

According to the online publication Amb Crypto, the increase in unique contract deployments on the Solana network could signify the arrival of new NFT collections. This comes despite the recent migration of two top-performing Solana NFT collections, “DeGods II” and “y00ts,” to Ethereum and Polygon, respectively, in early 2023.

Anatoly Yakovenko, Solana’s co-founder, commented on the move, “It would be awesome for them to 100% focus on Solana. But the reality is that these projects want to conquer the world. But so does the Solana community!”

Amb Crypto also suggests that the uptick in unique contract deployments demonstrates creators’ continued faith in the network, even after a recent 18-hour network outage on February 25, which halted user transactions. This follows previous outages in September 2021 and May 2022.

Improving Solana

In response to these challenges, Anatoly Yakovenko revealed that Solana Labs, an organization dedicated to enhancing the Solana blockchain, has assembled an “adversarial team” consisting of nearly one-third of Solana’s engineers to improve the blockchain’s stability.

This article is published on BitPinas: Solana Sees Surge in Unique Contracts Since January, Bolstering NFT Ecosystem

Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.

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