Tezos Passes 650,000 Transactions In 24 Hours & 1.7 Million Contract Calls In 10 Days

by | Sep 10, 2021 | Adoption, Latest

Tezos has today reached a new milestone of passing over 650,000 transactions in 24 hours and in the past 10 days has had more than 1.7 million contract calls. In this article, we take a look at some of the key numbers signifying Tezos adoption.

 Over 650,000 Transactions In 1 Day

Tezos has had over 650,000 transactions in the past 24 hours (as of writing). At the time of writing, the figure sits at 660,601.

Yesterday, it was reported that the blockchain had over 400,000 transactions, which was also a new milestone and record. Over the past 30 days Tezos has averaged 236,594 transactions.

This growth appears to have been happening for multiple reasons. One big reason is the new #OBJKT4OBJKT event taking place on Hic Et Nunc, NFT Biker and OBJKT.com.

Other reasons, include the growth of DeFi, including many transactions taking place over the PlentyDeFi platform as a result of their newly launched farming opportunities.

Just recently, OneOf started marketing their first artist NFTs (which will also be available on Coinbase.com) and first up was a series of Doja Cat drops on the platform.  Doja Cat has 14.3 million Instagram followers and was recently portrayed in a New York Times Square billboard advertisement marketing OneOf.

We can see the number of daily Tezos transactions and also the monthly average on the TZStats.com here.

We can compare this level of transactions to some other blockchains to give some perspective. Please note, we will first look at the 24 hour figures and then look closer at averages.

We will look at a couple of layer 1 blockchains that are above Tezos in the market cap rankings and ones where we could find accurate transactions per day data.

Ethereum: In the past 24 hours, Ethereum has had 1.2 million transactions, as can be seen here:

This means that in the past 24 hours Tezos has had 54.14% of Ethereum transactions, over the same time period.

Over the past 30 days  Ethereum has averaged around 1,202,766 transactions per day. This means over the last 30 days Tezos has had 19.67% of Ethereum transactions.

Cardano

Over the past 24 hours, Cardano has had 114,245 transactions. As can be seen here:

This means that Cardano has 17.29% of the Tezos transactions over the same time period.

The Cardano block explorer shows data for the last 15 days, so we will have to take their average over 15 days. Cardano had an average of 88,925 transactions per day over the 15 days.

Although not exactly like-for-like, Tezos over 30 days had an average of 236,594 per day, meaning Cardano is having around 37.58% of Tezos transactions per day over a slightly longer timeframe.

Over 1.7 Million Contract Calls On Tezos In 10 Days

In addition to the transactions data, Tezos is also showing significant growth when it comes to contract calls and has been since November 2020. In the last 10 days (and at the time of writing) Tezos has had over 1.7 million smart contract calls.

The figure sat at 1,782,328 and divided over 10 days is working out at around 178,232 per day (although this does not take into the fact that today’s contract calls are not completed, as there is more of the day still to run).

This means the actual contract calls per day will be even higher. If consistent, then this figure would lead to over 5.3 million contract calls in September.

Gas Consumption

Despite the large increase in both transactions and contract calls month-over-month the amount of Tezos consumed gas has remained low.

In August, Tezos had consumed gas of around 46,242,062,763, divided over the 31 days and this worked out at around 1,491,679,443 per day.

In September so far (under 10 days), consumed gas has amounted to 17,210,874,748, divided over 10 days works out at around 1,721,087,474 per day.

This is slightly under what the average will be as the day is not yet over, but we’ve just used to give an indication. 

With these two figures in mind, it looks as though Tezos has had around a 68.83% increase in daily smart contract calls month-on-month (so far), but just a 15.37% increase in daily consumed gas.

Wallet Growth

The 30 day new-funded account wallet growth, which recently passed 1.5 million wallets has grown again by 6.68% over the last 30 days.

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