58 Developers Refined Protocols During The Bear Market In the face of crises and their aftermath in 2022, core developers advanced technical roadmaps and hardened protocols to support the next bull market. Ethereum moved successfully to Proof-of-Stake (PoS)* consensus, and Solana hit a new record for continuous uptime. Staked Ether Solana Network Uptime 35 350 Block propogation Transaction spam S 30 300 bug T Transaction spam C ) Withdrawals Enabled A s R n Deduplication T o 25 250 i Failed validator N l l Node error O i upgrade M C ( misconfiguration 20 200 T r R e Software h PoS Merge A t E bug SM f 15 150 O r Number Of DaysLaunch e b 10 100 m Nu 5 50 - 0 0 1 1 1 1 2 2 2 2 3 3 3 3 0 0 0 0 1 1 1 1 2 2 2 2 3 3 3 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 - - - - - - - - - - - - 2 - - - - - - - - - - - - c- r n p c r n p c r n p c r- - - c- r n p c r n p c r n p c Ma Ju Se De Ju Ju n p Ma Ju Se De Ju Ju Se De Ma Se De Ma Se De Ma Ju Se De Ma Se De Ma De *Proof-of-Stake is a method of securing public blockchains, in which network participants who wish to validate transactions on the network pledge or “stake” their assets at risk of loss if they fail to operate within the network’s rules. Chart data end 12/31/23. Sources: ARK Investment Management LLC, 2024. This ARK analysis is based on a range of underlying data from external sources, which are available upon request. Forecasts are inherently limited and cannot be relied upon. For informational purposes only and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security. Past performance is not indicative of future results.