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

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.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

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Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

 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 NuncNFT 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.

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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