Web3 Development Report Q3 2022 - Alchemy
- 1. Web3 Development Report Alchemy Web3 Development Report Q3’2022: Ethereum Ecosystem and Beyond
- 2. The Big Picture The Big Picture Prices down, devs up. Despite Ethereum decreasing 70% in price, developer activity increased by over 40%. Web3 Development Report *As measured by verified smart contract deployments
- 3. 12,495 dapps (12x since 2018) 17,375 Smart contracts(verified) /month +160% Y/Y 1.5m EthereumSDK installs/week +178% Y/Y Q3’22 was the biggest for devs, ever Q3’22 was the biggest for devs, ever Web3 Development Report
- 4. -56% Ethereum price USD Y/Y Prices -69% Total value locked Y/Y DEFI -88% Trading volume USD Y/Y NFTS Thisisdespite thebearmarket Web3DevelopmentReport
- 6. dapps End-user ready applications with decentralized backends Smartcontracts Computer programs stored on a blockchain Libraries Developer tools to easily read/write to the blockchain 3 ways to measure developer activity These 3 indicators show us if devs are , , and building deploying growing Web3 Development Report
- 7. Ethereum Libraries Libraries are up and to the right Web3 Development Report
- 8. 1.5m/weekly Ethereum SDK installs Web3 Development Report 2021 2020 2019 +178% 1,536,548 2022 +70% 552,272 +80% 325,056 +24% 180,231 145,799 2018 2019 2020 2021 Ethereum SDKs include Ethers.js and Web3.js, which developers need to build on the Ethereum blockchain
- 9. Weekly downloads Ethers.js, Web3.js, and Combined Web3 Development Report 587,567 (+137%) 587,567 (+137%) 948,981 (+212%) 948,981 (+212%) 304,273 (+86%) 304,273 (+86%) 163,799 (+145%) 163,799 (+145%) 66,959 (+24%) 66,959 (+24%) 53,863 53,863 247,999 (+54%) 247,999 (+54%) 161,257 (+42%) 161,257 (+42%) 113,272 (+23%) 113,272 (+23%) 91,936 91,936
- 10. Smart Contracts Smart contracts are up and to the right Web3 Development Report
- 11. Web3 Development Report 2021 2019 Verified smart contract deployments are up more than 50% in 2022 44,023 +366% 9,438 1068% 808 ∞ 48,471 +100% 24,281 -45% 78,806 +63% 117,922 +50% Verified smart contracts were used for measurement of production applications. The number of total contracts deployed is more than 10X larger.
- 12. Web3 Development Report 36% of all verified smart contracts were deployed just this year, making 2022 the biggest year ever smart contracts were deployed in 2022 117,922 smart contracts deployed from 2015 to 2021 205,827
- 13. Monthly verified smart contracts up 2.6x Y/Y Web3 Development Report Verified smart contract deployment 14,615 17,736 16,698 New monthly all time highs (ATHs) consistently set
- 14. Smart contracts not tied to prices Web3 Development Report Verified smart contract deployment 12,337 17,736 11,824 $3,450 $1,035 $1,323
- 15. dapps Web3 Development Report dapps are up and to the right
- 16. Web3 Development Report More than 12,000 dapps and growing 0x, Aave, Apex, Audius, Balancer, Coherent, CollabLand, Compound, Context, Curve, Dark Forest, Decentral Games, DeveloperDAO, dydx, Farcaster, Fractal, Gitcoin, Gods Unchained, Goldfinch, Helius, Hop, Hyperspace, Illuvium, JonesDAO, Lens, Magic Eden, Metamask, Mirror, OpenSea, Pancake Swap, Phantom, Royal, Quickswap, Quix, Safe, Showtime, Slingshot Finance, Snapshot, Solanart, Stargate Finance, Sudoswap, Sweat, Synapse, Syndicate, Synthetix, Tally, Uniswap, x2y2, Zapper, Zerion
- 19. 516% growth in active developer teams YTD 795% growth in active developer teams Y/Y 121% growth in API consumption YTD Web3 Development Report Arbitrum
- 23. Web3 Development Report Data infrastructure is growing Chainlink 500+ projects 4.2B on-chain data points The Graph 500+ subgraphs 560B queries Alchemy Billions of data requests YTD suggesting developers are actively building dapps with diverse use cases
- 24. Web3 Development Report Social infrastructure is growing ENS 545,948+ owners Lens Protocol 86,500+ owners Farcaster 164,000 casts by 3,405 all-time casters
- 25. Web3 Development Report Wallet and DeFi infrastructure is growing WalletConnect 46,250 weekly installs +13% Y/Y RainbowKit 26,359 weekly installs launched 2022 Uniswap v3 SDK 27,841 weekly installs +280% Y/Y
- 27. This report strives to provide an accurate and useful representation of web3 development. The following sources were used for data collection purposes: Etherscan (verified smart contracts), DappRadar (dapp count), Github and NPM JS (SDK installations and metadata), CoinMarketCap (token prices), and the Internet Archive (fetching historical versions of aforementioned pages to provide timestamped data sources). web3 Javascript library weekly downloads were used as a proxy for developer activity here. This metric is helpful but imperfect due to the ability for the library to be downloaded multiple times by the same user intentionally or unintentionally. However, it provides one signal for directional guidance. Additionally, the growth of various blockchains on Alchemy is purely relative; certain chains are significantly larger as measured by active teams and daily requests. Web3 Development Report Methodology
- 28. Developer Activity: Etherscan and Solscan DappRadar, Defi Pulse, CoinMarketCap, Dune Github and NPM Internet Archive Alchemy Smart Contracts and Programs: Market and Prices: SDKs: Historical Web Pages: Web3 Development Report Thank you to the report’s sources
- 29. This report is for informational purposes and does not constitute investment, legal, or tax advice. You should not put undue reliance on any statements of historical trends or interpret them as guarantees of future performance or results. In addition to providing information based on our internal sources, this report contains statistical data and estimates that are based on public information. You should not give undue weight to such data or estimates as we have not verified them. We make no representations or warranties as to the accuracy or completeness of the data presented nor do we commit to updating such data after the date of this report. By reviewing, sending, receiving, or sharing this report, you acknowledge that you will be solely responsible for your own assessment of the market, our company, and the other organizations mentioned, and you will conduct your own analysis and be solely responsible for forming your own view of any potential future performance. As indicated on our website (www.Alchemy.com), we have a business relationship with certain chains including Ethereum, Polygon, Optimism, Arbitrum, and Solana. However, this report is not intended to promote the token of any particular chain. Web3 Development Report Disclaimer
- 30. Thankyou