Analysis

Upon examining data from multiple graphs related to smart contracts on the testnet, several key observations emerge: The Base Testnet has seen a total of 44,000 smart contracts deployed, with an average of 1,600 contracts deployed per day. This highlights the growing interest among developers in utilizing the platform for their projects. Notably, there was a spike in new contracts deployed at the end of February and another recent spike. However, between these spikes, most days saw fewer than a thousand contracts deployed on the network, suggesting fluctuations in developer activity. The data also shows that around 90% of smart contracts on the platform have only been interacted with during one week, indicating that most contracts are relatively new or have limited engagement. Furthermore, less than 3% of all smart contracts have been interacted with for more than 2 weeks on the layer 2 base. This may imply a need for increased awareness or improvements in functionality to encourage longer-term engagement with deployed smart contracts. In terms of smart contract transactions, a little over 75% of them have had only one transaction, and about 98% have had fewer than 10 transactions in total on the network. This finding suggests that the majority of smart contracts on the testnet are either in the early stages of testing or are not being utilized to their full potential. In summary, the data from various graphs reveals a growing but fluctuating trend in smart contract deployment on the Base Testnet, with most contracts experiencing limited interaction and transaction volume. Further development, enhancements, and increased awareness may be necessary to boost the long-term engagement and utilization of smart contracts on the platform.

Wallet / Contract Growth on Base Testnet