Solana Witnesses Surge in Unique Contracts Deployment, Implying Arrival of New NFTs
Solana, a smart contract blockchain network, has experienced an increase in unique contracts deployed, indicating sustained development activity on the platform, as per Artemis data. At the time of writing, 75 unique contracts were active on the network, reflecting the level of deployment in March.
What is Contract Deployment?
Contract deployment is the process of deploying smart contracts on the blockchain network. Smart contracts are automated programs that execute contracts between parties on the blockchain, making the process quicker and more efficient. Unique contract deployment refers to the deployment of smart contracts with unique and unreplicable contract code.
The increase in unique contract deployment on Solana suggests that the network may soon welcome a new collection of non-fungible tokens (NFTs) that could include unique digital items like artwork or collectibles. The rise in development activities on Solana despite recent network interruptions is a testament to the developers’ continued confidence in the platform.
Impact on SOL Token
The impact of the surge in unique contract deployment on Solana’s token, SOL, is yet to be fully evaluated. However, the overwhelming position displayed on the chart was a long position, implying that investors are optimistic about a future price rise. At presstime, SOL was trading at $21.6, up more than 2% and was in an uptrend on a daily period, according to the TradingView chart.
Solana’s Consistent Development Despite Network Disruptions
Despite the network outage that sparked much debate, Solana has remained consistent this year, with a development activity of over seventeen as of this writing. Though there have been occasional small variations, developers’ sustained faith in the platform has been reflected in the increased development activities on Solana.