The number of smart contracts deployed in Ethereum amounted to nearly 2 million during March.
The Ethereum network hosted near 2 million smart contracts during March, representing a 75% increase over the previous month and reaching a new milestone in the history of the platform.
The analysis performed by Dune Analytics collects the number of smart contracts deployed the last year, averaging 670,000 contracts per month. The previous record was in October 2019, when there were 1,119,256 smart operating contracts. The same analysis also shows how the cost of implementing these contracts during March was 11,621$, one of the lowest in the period. The previous low occurred in April 2019, hovering around 5,500$; but during that month only 384,329 smart contracts were executed on the network. The figures on the cost of implementation are based on the price in dollars of the amount of ETH used to execute the contracts.
These differences could be motivated by the recent decline in prices in the cryptocurrency market. In particular, the price of ETH fell from $ 240 to $ 133 from January to March 2020, maintaining a price close to $ 190 according to CoinMarketCap. Smart Contracts are the most prominent feature of Ethereum, and it has inspired other platforms such as EOS, Cardano, and Tezos, which also use these tools and which are estimated to continue to grow, and even that the quality and fidelity of the data stored in these blockchains will increase thanks to the technology they use.