Specialists from the American Northeastern University and the University of Maryland published the results of the analysis of smart contracts created in the Ethereum (ETH/USD) Blockchain – almost 60% of all smart contracts have never been used by anyone. They investigated the first five million of its blocks, which covers almost three years of the network.
The researchers set out to find out exactly how users and smart contracts interact with each other, and the conclusions were quite interesting. In particular, almost 60% of all created smart contracts have never been used at all. According to the authors of the report, this indicates a significant number of “sleeping code” and crypto assets in the Blockchain.
At the same time, about 30% of all smart contracts are involved in the performance of other smart contracts – users don’t use them directly.
The second point, which is rather alarming, is a large number of reuse of the same code and the similarity of smart contracts with each other. According to scientists, 1.2 million smart contracts created by users are reduced to 5.9 thousand clusters of smart contracts, each of which is characterized by the use of a very similar code.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.