• Solana has recently seen an increase in the number of unique contracts deployed on the network.
• Statistics from Artemis show that March is the highest level for the entire year with 75 different contracts active as of writing.
• Despite a recent outage, Solana’s development activity increased in March, mirroring the number of unique contracts.
Solana Smart Contracts on the Rise
Recent data has shown that there has been a spike in the number of unique contracts deployed on the Solana network. Statistics from Artemis show that 75 different contracts were active as of writing, making it the highest level for this year so far. This indicates that despite issues plaguing the network, creators are still showing faith by deploying smart contracts onto it.
Understanding Unique Contracts
A contract deployment is when a smart contract is deployed onto a blockchain network. These automated programs can be used to facilitate agreements between parties and are called ‘smart contracts’. A special kind of deployment called ‘unique contract deployment’ uses code which is intended to be one-of-a-kind and unreplicable – meaning only one instance can exist and it cannot be copied or utilized elsewhere. For example, these could be used to produce digital goods such as collectibles or artwork through non-fungible tokens (NFTs). The increase in deployments suggests we may soon see a new NFT collection on the Solana Network.
Solana Development Activity
Development activity on Solana has also increased in correlation with its unique contract deployments throughout March; although this metric was still lower compared to before its recent downtime. As of writing, development activity was over seventeen with some fluctuations being noticed.
Impact On SOL Price
Analysis from Binance funding rates shows that investors have not been taking many positions on SOL – however, this did not stop its price from beginning recovery after an initial slump following its outage period recently.
The rise in unique contract deployments onto Solana’s network is evidence that creators have faith in its future despite obstacles faced recently; suggesting potential for further growth within its development activities and price movements alike .