Jason Shah, product manager at Alchemy, a Web3 development platform, says that speed is really picking up.
Jason Shah, product manager at Web3 development company Alchemy, said: Despite the massive drop in cryptocurrency prices, developers are ramping up the pace of building applications using blockchain technology.
“We see all-time highs across all forms of growth activity”, Shah said, noting that the likes of Facebook, Adobe and Stripe are moving to Web3.
Web3 companies like OpenSea or 0x are also likely to continue to develop blockchain technology in an effort to address new use cases.
Shah said that the developers are " Flocking " into blockchains like Ethereum, Polygon, and Solana, pointing out that despite a 60% drop in the price of ether this year, the use of smart contracts on Ethereum has increased by 40%.
Alchemy tracks activity, including counting active SDKs (software development kits) and dapps (decentralized applications).