Web3 development is at an all-time-high
Ok...what is going on here??
We're now three-for-three on exciting news this week.
Here's your daily dose of uplifting data:
We might be in the depths of a deep crypto winter, but the builders in the space either haven't noticed, or don't care.
Yesterday we reported on Bitcoin's continued development, and today, we're looking at the rest of the crypto community.
New data has just revealed that the creation and deployment of smart contracts (the code that runs the bulk of Web3) is at an all-time-high.
2021 may have felt like the peak of the crypto markets (and it was for prices), but as far development is concerned - 2022 is the landmark year.
Web3 development platform Alchemy, says 2022 is shaping up to be the “biggest year yet” for Web3 developers - with each month of the past quarter, outpacing the last.
Want a graph to drive this news home? Here, have a graph!
If you've heard the term 'bear markets are for building,' and want to chalk it up to this - you can (it's a great notion).
BUT, it hasn't always been followed. The 2018-2020 bear market saw a 45% decline in smart contract deployment. Something has changed.
So what's the takeaway?
It looks like the Web3 snowball has well and truly been pushed down the hill, gaining speed and weight along the way!
(Is this the 'Tipping Point' that Malcom Gladwell always harps on about?).
...if anyone needs us we'll be doing jumping jacks in the corner, to disperse some of this giddy energy.
