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Pune, April 25, 2023 (GLOBE NEWSWIRE) -- The Smart Contracts Market was assessed to be worth USD 190.34 million in 2022, and it is projected to expand to USD 1077.7 million by 2030, with a compound annual growth rate of 24.2% during the forecast period of 2023-2030, as reported by SNS Insider.

Market Overview

Smart contracts are self-executing digital contracts that allow two or more parties to transact with each other without the need for intermediaries like banks or other financial institutions. These contracts are built on blockchain technology, which provides a secure and decentralized platform for their execution. One of the key benefits of smart contracts is that they can help to automate complex business processes, thereby reducing costs and increasing efficiency. They can also help to ensure the integrity and transparency of transactions, as all parties can view the terms of the contract and track its execution on the blockchain.

Market Analysis

The global smart contracts market is experiencing significant growth, primarily due to the increasing adoption of smart contracts in various industries such as supply chain, banking, government, insurance, and real estate. Smart contracts offer a secure and transparent way to execute and manage contracts between parties, without the need for intermediaries. One of the main drivers of this growth is the growing popularity of Blockchain technology. Smart contracts are built on top of blockchain technology, which provides a decentralized and secure platform for executing and managing contracts. As more businesses and industries recognize the potential of blockchain and smart contracts, the demand for these technologies is increasing rapidly.

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Key Company Profiles Listed in this Report Are:

Impact of Russia-Ukraine Conflicts

While the conflict may create some short-term challenges for the smart contracts market, it could also create opportunities for the use of smart contracts as a means to address some of the challenges created by the conflict. Ultimately, the long-term impact of the conflict on the market will depend on a range of factors, including the duration and severity of the conflict, as well as broader geopolitical and economic developments.

Smart Contracts Market Report Scope:

Key Regional Developments

The smart contracts market is expected to continue to grow in the coming years, with North America and Europe projected to maintain their key positions in the market. These regions have been at the forefront of adopting smart contract technology and leveraging blockchain technology to drive innovation and growth in various industries. The region has a robust technology infrastructure and a highly skilled workforce, which has allowed businesses to adopt and integrate smart contract technology into their operations.

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Key Takeaway from Smart Contracts Market Study

Recent Developments Related to Smart Contracts Market

Table of Contents

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

5. Value Chain Analysis

6. Porters 5 forces model

7. PEST Analysis

8. Smart ContractsMarket Segmentation, by Blockchain Platform

9.Smart ContractsMarket Segmentation, by Technology

10.Smart Contracts MarketSegmentation, by End-User

11. Regional Analysis

12. Company Profiles

13. Competitive Landscape

14. Conclusion

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About Us:

SNS Insider is one of the leading market research and consulting agencies that dominate the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

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Smart Contracts Market to Surpass USD 1077.7 Million by 2030 ... - GlobeNewswire

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Last month in late March 2023, IOTA developers announced the release of the ShimmerEVM testnet, and in no time the platform has attained significant milestones.

In just around a month since its launch, the Shimmer EVM testnet has hit a transactions milestone of around 1 million with over 38,000 active wallet addresses. Additionally, the platform has also deployed more than 2,200 smart contracts.

IOTA co-founder Dominik Schiener also congratulated the Shimmer team for hitting this milestone noting 1 million transactions on the Shimmer EVM in less than 1 month, a big milestone that shows the resilience, speed, and reliability of the network. He further added that the next milestone in sight should be 10 million transactions.

The launch of the ShimmerEVM testnet a month ago was a key step in expanding the reach of the interoperable Shimmer protocol to w very wide community of blockchain developers and users who have been working on the EVM-compatible smart contracts.

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The launch also proceeds with the highly-anticipated and much-awaited release on the Shimmer network and brings endless possibilities and features available in the Shimmer protocol. As part of the public testnet phase, IOTA developers shall further test the ShimmerEVM and validate it as part of their efforts to find bugs and improvements in this case.

Within a very short time of its release, there have been multiple projects testing their deployment on the ShimmerEVM testnet. Earlier this week, the Shimmer network announced another major infrastructural development on the ShimmerEVM testnet, dubbed the Pyth Network.

In a recent development, the Pyth Network has also deployed its oracle contracts on the ShimmerEVM testnet. This deployment would allow projects on Shimmer to pull real-time price data onto the EVM, which is very crucial for derivatives platforms and lending protocols.

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In another major development, Web3 gaming experience IOTAHeroes is launching the Treasures of Shimmer Battle test on the newly launched ShimmerEVM network. The two-week-long campaign shall start on May 3 and will allow users to month their own hero characters. This gives participants an opportunity to partake in a prize pool of 1,300,000 SMR tokens.

Additionally, upon completing tasks on IOTAHeroes, users will be rewarded with a limited-edition item upon the games launch. IOTAHeroes is also a member of the Touchpoint Open Builders Program, providing the IOTA community with an opportunity to enjoy a casual RPG and participate in Play2Earn activities.

Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.

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IOTA's Shimmer EVM Breaks Records: 1 Million Transactions and ... - Crypto News Flash

Decentralised exchanges (DEX) are blockchain technologies that allow two or more participants to conduct peer-to-peer transactions. Due to the decentralisation of asset exchange protocol, there has been a rise in the no of decntralised exchanges. They are decentralised because the functionality of smart contracts eliminates the need for central authorities.

Take a look at the top decentralised Exchanges in the world:

This decentralised exchange was launched in 2018 and ever since then, it has been a flexible protocol that has attracted a lot of DEX users. It is a place for traders, liquidity providers, and developers to earn, build and swap tokens.

A recently approved token approval mechanism known as Permit2 makes the Uniswap protocol even more desirable. The Permit2 integrates ERC20 and NFT into a single router. Uniswap uses the TWAP price to avoid smart contract mismatch with DeFi protocols which can lead to oracle problems.

With centralised exchanges losing confidence in the ecosystem, the need for decentralised exchange has increased rapidly. DyDx is a layer-2 protocol and a non-custodial decentralised cryptocurrency exchange with up to 20X leverage 0 trading fees on its trading platform. Protocol safety and Governance are two important things for DyDx.

The dYdX exchange is developed on a layer-2 solution that allows for quicker transaction speeds, lower gas costs, lower trading fees, and lower minimum trade volumes (to avoid whale-transaction detection on the protocol).

Integral size is a custom-built DEX that aggregates huge trade orders on-chain and offers professional traders zero price effect as well as a 30-minute TWAP swap time for digital assets.Twap trading is one of the integral size DEX. Integral size guarantees 100 percent delivery with no impact on large trading volumes while on other DEXs trading large volume is quite risky.

The MEV protection included in the price contract with Integral SIZE is to reduce the influence of arbitrageurs and price front-running. This is critical for modest and real orders.

Curve Finance is a liquidity-matching decentralised exchange that uses automated market makers to trade stablecoins. Automated market-making has a lot of advantages like improving price delivery efficiency and reducing slippage for traded pairings. These pools are smart contracts and the smart contracts validate stablecoin switching, which is the exchange of two or more tokens in the basket.

The Curve Finance exchange supports major stablecoins such as DAI, USDC, FRAX, USDT, and TUSD. Swaps between wrapped tokens like wBTC, wETH, and wrapped staked Ether,stETH, are also possible.

According to Coingecko, Pancake Swao is the highest traded volume decentralised exchange and it is built on the BNB smart chain. Users can use Pancake Swap to access a blockchain protocol with much lower transaction costs than protocols based on the Ethereum and Bitcoin blockchains.

Pancake Swap users can earn the native token CAKE by trading and exchanging on the network or even giving tokens in the Liquidity Pool.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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Top Decentralised Exchanges around the World - The Coin Republic

PRESS RELEASE

Published May 1, 2023

When Ethereum was first introduced in 2015, it quickly gained popularity in the cryptocurrency world due to its smart contract capabilities and decentralized platform. Today, Bitgert, a relatively new cryptocurrency, is starting to gain momentum and is being compared to Ethereum in its early days. In this article, we will explore the similarities between Bitgert and Ethereum in 2015 and their investment potential.

One of the most significant similarities between Bitgert and Ethereum is their focus on smart contracts. Smart contracts are self-executing contracts with the terms of the agreement between buyer and seller being directly written into lines of code. Bitgert, like Ethereum, has a decentralized platform that allows for the creation of smart contracts. This feature is particularly valuable in the digital age, where trust between parties can be an issue. By eliminating intermediaries, smart contracts can save time and money.

Another similarity between Bitgert and Ethereum is their potential for innovation. Both cryptocurrencies have an open-source platform that allows developers to create new applications and tools. Ethereum has already seen significant innovation, with the creation of decentralized applications (dApps), such as CryptoKitties, which allows users to buy, sell, and breed digital cats. Bitgerts open-source platform also allows for innovation, and we could see new applications and tools created in the future.

Regarding the investment potential of Bitgert, it is essential to note that it is still a relatively new cryptocurrency. As such, it has not yet reached the level of adoption that Ethereum has achieved. However, Bitgerts focus on smart contracts and decentralized platforms could make it an attractive investment opportunity in the future, especially if it gains more traction in the cryptocurrency market.

It is also worth noting that Bitgert has seen a surge in its value in recent months. While it is still far from Ethereums market capitalization, it is worth monitoring its growth in the coming months. Investors who got in on Ethereum in its early days have seen significant returns, and the same could be true for Bitgert.

In conclusion, while Bitgert is still in its early days and has not yet reached the level of adoption that Ethereum has achieved, it has many similarities that make it an attractive investment opportunity. Both cryptocurrencies focus on smart contracts and decentralized platforms, and both have open-source platforms that allow for innovation. As with any investment, there are risks involved, but for investors who are willing

to take a chance, Bitgert could be the Ethereum of 2015.

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Bitgert: The Ethereum of 2015? Exploring the Similarities and ... - Digital Journal

Pepe Coin (PEPE) is soaring and has become one of the most popular meme coins behind Dogecoin and Shiba Inu.

However, this wouldnt have been the case if the Pepe Coin smart contract deployer had not chosen to do what was good for the project and, by extension, the community. The team renounced the deployer contract, sending it to a null address.

Doing this meant no one could tamper with the smart contract and effect changes that could destroy the meme coins credibility.

According to curious onlinesleuths, the deployer of Pepe Coin smart contracts had god-like powers before changes were made.

For example, the team could limit the number of token transactions, modify the maximum token trading amount, the maximum position a trader can initiate, or even suspend trading of a given address. Moreover, the smart contract included a black listing function. Subsequently, this effectively empowered the team to bar certain addresses from holding and trading the token.

With this, observers noted that Pepe Coin, though popular, wasnt decentralized as many thought and project owners could, at any time, rug pull investors.

A rug pull is a common scam in decentralized finance (DeFi) where a team builds a project, in this case, Pepe Coin, convinces users to supply liquidity and buy the token. Afterward, the team leaves the project and sells their portion forcing prices lower and leaving investors holding mud.

The possibility of the team pulling out a rug pull was plugged when the deploying smart contract was sentto a null address on April 14.

Pepe Coin is a meme coin that has no utility. Instead, the team behind the project aimed to ride on Pepe the Frog, created in 2005 by Matt Furie.The meme coin project has no connection to Furie.

Pepe Coin was launched in mid-March and with little fanfare. There was no presale, and the total supply was 420.69 trillion.Days after launching, Pepe Coin exploded to be one of the most popular meme coins.

The token has surged to command a market cap of over $105 million. It has a slot in the top 300 projects by market capitalization, according to the coin tracker,CoinGecko.

At the same time, 93.1% of all PEPE in circulation weresent to a liquidity pool in Uniswap, and liquidity provider (LP) tokens were burnt. The remainder is reserved for centralized exchange listing and other initiatives.

Uniswap is one of the worlds largest decentralized exchanges facilitating the trading of tokens like PEPE, including non-fungible tokens (NFTs) on Ethereum and layer-2 protocols like Arbitrum.

Feature Image From Canva, Chart From TradingView

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Pepe Coins Mega Rise Pinned To This Smart Contract Fix - NewsBTC