Based

Arbitrum

Optimism

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 BNB Chain noted that the rise in verified smart contracts highlights the demand for security, reliability and scalability. 
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 Although some consider the second quarter of 2023&nbsp;a lost quarter,&nbsp;others find that the smart <a rel="noopener noreferrer nofollow" title="contracts" href="https://thebittimes.com/tag/contracts.html">contracts</a> industry remains resilient. Even though the crypto space suffered from lower investments from venture capital firms, developers <a rel="noopener noreferrer nofollow" title="continue" href="https://thebittimes.com/tag/continue.html">continue</a> to deploy smart <a rel="noopener noreferrer nofollow" title="contracts" href="https://thebittimes.com/tag/contracts.html">contracts</a>, signaling a growing demand for blockchain-based solutions.&nbsp; 
 In its Q2 report for 2023, blockchain platform BNB Chain noted an increase in verified smart contracts. According to the report, platforms like BNB Chain, Ethereum, Polygon, Fantom, Avalanche, Arbitrum and Optimism all recorded a percentage increase in verified smart contracts in Q2. 
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 <figcaption style="text-align: center;"> Number of smart contracts verified weekly from September 2022 to the end of June 2023. Source: BNB Chain 
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 BNB Chain said that the rise in verified smart <a rel="noopener noreferrer nofollow" title="contracts" href="https://thebittimes.com/tag/contracts.html">contracts</a> across multiple blockchains highlights the “increasing importance placed on security, reliability, and&nbsp;scalability within the blockchain ecosystem.” The firm also wrote that this underscores the industry’s resilience despite bear <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> conditions. 
 Based on the data it collected for the second quarter, the company predicts some potential trends that may continue throughout the year. According to BNB Chain, there may be continuous momentum in layer-2 solution adoption because of their scalability and cost-effectiveness. The report also predicts a focus on smart contract security, with crypto platforms investing more in advanced cryptography and audits. 
 Related: Liquid staking claims top spot in DeFi: Binance report 
 Meanwhile, regulatory scrutiny is expected to rise along with developments within the space. According to the <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a>, compliance will be key for developers and organizations. The <a rel="noopener noreferrer nofollow" title="report" href="https://thebittimes.com/tag/report.html">report</a> recommended that companies stay updated with regulatory changes and ensure compliance. 
 As crypto <a rel="noopener noreferrer nofollow" title="market" href="https://thebittimes.com/tag/market.html">market</a> prices remained low, venture capital funding also recorded one of its worst quarters. On July 6, data showed that Q2 of 2023 recorded one of the weakest quarters in terms of crypto fundraising. Despite this, executives working in the crypto industry have largely&nbsp;remained optimistic about the crypto space’s long-term prospects. 
 Magazine: Asia Express: HK crypto ETFs on fire, Binance warns on Maverick FOMO, Poly hack 
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Smart contracts continue to rise amid market downturn: BNB Chain Q2 report

TheBitTimes

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