Here’s what this Ethereum Smart Contracts analysis have found

Researchers in the cryptocurrency industry went deep into Ethereum smart contracts and revealed some interesting facts.

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More than 44 million smart contracts have been deployed on Ethereum since its launch, according to Electric Capital engineer “Emre”. In fact, it is particularly noteworthy that about 70% of the 15 million smart contracts that are still live are copies of one of the 15 standard smart contracts.

Analysing Smart Contracts

Moving on from his analysis, he pointed out that over 50% of all smart contracts, or 22 million of them, have been destroyed in what he believes is an attempt to save fees. In addition, 10% of the live ones are smart contracts for tokens to pay fees.

“EVM refunds fees to a user for destroying a smart contract,” he noted before adding that this had resulted in users deploying empty contracts when fee prices were low and destroying them when prices were high for a quick refund.

Half of all live contracts, or about 12 million, are promoters deployed by exchanges that act as a post office box for users. They give users an address held by the exchanges, which allows them to collect ERC-20 tokens sent to users.

One million contracts from OpenSea

There are about one million smart contracts developed by OpenSea to sell NFTs, he revealed. About 150,000 contracts are ENS transactions, part of the old Ethereum domain name service registration mechanism that are no longer used.

About 400,000 contracts dedicated to ERC-20 tokens did not make it into the standards list due to variations made to them.

Deployment of smart contracts doubled

According to Etherscan, daily verified Ethereum contracts reached an all-time high of 602 on August 3. The graph shows how the network is growing in terms of smart contract growth, which has doubled this year.

Here's what this Ethereum Smart Contracts analysis have found

The number of unique Ethereum addresses also reached an all-time high this week, over 202 million. Daily transactions are around 1.2 million and have been relatively stable this year, except for an occasional spike.

In addition, Coinbase started staking ETH for institutional investors in the United States.

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