Which blockchains carry the most smart contracts with the best safety profile?
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Smart contracts signify on-chain activity, including the creation of tokens or NFT. Some smart contracts reflect more complex processes, like trading, swaps, or identities. In 2024, newer blockchains are outperforming based on smart contract count. Ethereum is not the leader in terms of contracts deployed. Telegram’s native blockchain has the biggest number of contracts deployed. Telegram is incompatible with the Ethereum Virtual Machine (EVM) and uses a different approach to building smart contracts. The chain also creates contracts using the FunC programming language while operating as an open-source network. Telegram hosts apps in multiple categories, including wallets, marketplaces, gaming, social spaces, and others. The peak position of Telegram arrives after months of active user growth. “plan to repeat the feat on telegram/@ton_blockchain” https://t.co/vnYBR5xksk pic.twitter.com/PvQgE7GZrQ — Token Terminal (@tokenterminal) June 6, 2024 Telegram is a blockchain that hosts multiple trading bots that require automation for its decentralized services. It also offers a sample of contracts that can be used as templates for other projects. Read: Is it Necessary to Implement a Smart Contract Kill Switch? Following Telegram, Polygon is the second most widely used L2 solution. Polygon has been selected to deploy contracts during the DeFi, Web3 and gaming boom in 2021, contributing to the total count of smart contracts. Polygon offers a layer of safety through its native blockchain explorer, where users can at least verify the smart contract’s address. Polygon is also the leader based on the number of contract deployers. On Telegram, the great number of contracts may be due to centralized activity or a single entity issuing a series of contracts. Other networks that invite a big number of contract deployers include TRON, Arbitrum, ZKSync Era, and BNB Chain. The outlier in that category is Base, the tokenless blockchain by Coinbase. It is among the leaders based…
Filed under: News - @ June 7, 2024 11:20 pm