Solana Sees Increase in Unique Contract Deployments, Thanks to NFTs and Developers’ Faith

Solana sees an increase in unique contracts deployed

Solana has witnessed a surge in unique contracts deployed on its network, reaching the highest level for the year, according to Artemis data. The growth is not limited to March, indicating sustained development on the platform. At the time of writing, 75 unique contracts were active, illustrating the amount of deployment in the month.

Contract deployment refers to the deployment of smart contracts on the blockchain network. Smart contracts are automated programs that run on the blockchain and can be utilized to automate the execution of contracts between parties. Unique contract deployment is a smart contract deployment that employs contract code meant to be unique and unreplicable.

The increase in unique contract deployment on Solana implies that the network may soon see the arrival of a new collection of non-fungible tokens (NFTs) that could include one-of-a-kind digital items such as collectibles or artwork. Developers’ sustained faith in the network despite recent interruptions is reflected in the increased development activities on Solana.

The impact of the increase in unique contracts deployment on Solana’s token, SOL, is yet to be fully assessed. However, the overwhelming position displayed on the chart was a long position, indicating that investors were betting on a future price rise. SOL was trading at $21.6 at presstime, up more than 2% and was in an uptrend on a daily period, according to the TradingView chart.

Solana’s sustained development despite network disruptions

Despite the outage that sparked much debate, Solana has remained consistent this year. The development activity was over seventeen as of this writing, with occasional small variations, showing that the network’s developers maintain their faith in it.