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With An Average Of 9,635 Contract Deployments Per Day, Developer Activity On Tezos Hits A New High

In the past 28 days, we see a total of 269,785 contract deployments on all 3 testnets and mainnet combined. This comes down to an average of 9,635 contract deployments per day. This is four times as many as in March this year.

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Tezos Development

For the second time in Tezos history we will hit over 5,000,000 contract calls in a single month. Contract calls are interactions with smart contracts in the form of transactions.

This is an important metric to measure growth in the adoption rate and usage of mainnet smart contracts.

Monthly total transactions (basic transactions and contract calls combined) will mount up to about 8,250,000 transactions with an average transaction volume of 275,000 transactions per day (about 20% of the average transaction volume of Ethereum currently). 

Developer activity hits a new high

In the past 28 days, we see a total of 269,785 contract deployments on all 3 testnets and mainnet combined.  This comes down to an average of 9,635 contract deployments per day. This is four times as many as in March this year

If we zoom in on pure mainnet contract deployments, we see that we hit a new high this month with 6,944 mainnet deployments. And we still have two more days until the end of the month. 

The continuing growth in developer activity confirms the trend of the past two years that was emphasized in the Digital Assets Primer of the Bank of America which was published October 4th this year.

In the 141 page long document, the Crypto & Digital Assets Strategy department of the Bank of America gives its analysis on the crypto market, its components, risks and potential.

In the graphs that are included in the report, we see that Tezos scores the second highest on the developer interest scale. Out of the 30 cryptocurrencies, only Ethereum scored higher than Tezos. 

Where is the activity coming from?

There’s obviously a lot of activity in the NFT ecosystem on Tezos and the growing DeFi ecosystem. New platforms and additions to existing ones are part of the overall dev activity.

Additionally, Tezos has seen an impressive amount of real-live use-cases that are both already deployed and still in development.

What we see while using Tezos on a daily basis as investors, artists and as a crypto enthousiast is just the tip of the iceberg.

Just a few days ago the so far unknown SaaS platform “Myloby” announced that they just surpassed 100,000 transactions on the Tezos blockchain.  

A small selection of other examples of Tezos-based applications are:

The distribution of COVID relief funds in Swiss cities.

The voting application in a Paris suburb BeeZ application and their digital stamp feature on Tezos.

Inveniam’s New Asset Value Pricing Solution (With data validators Cushman & Wakefield for real estate pricing and Deloitte for audits), which has been responsible for 7% of Tezos daily transaction volume at some point.

Supply chain application eMin (Used by the UN Migration Agency).

The integration of Electis in the Swiss voting application Baloti.

Decentralized identity solution Gravity (Used in pilots by several UN organizations and the Red Cross).

All applications for real-live use-cases that emphasize the large variety of interest in building and deploying on Tezos.

With the ever improving efficiency of the Tezos blockchain which results in faster and cheaper transactions without compromising decentralization, the trust and interest in Tezos from organizations to build long-term utility is not surprizing. 

Hackathons are another source of dev activity. Currently two hackathons are ongoing on Tezos. The Plenty Global Hackathon by Tezos India and Plenty DeFi with a $30,000 price pool.  

And the Gitcoin “Game on! Tezos” hackathon with a $200,000 prize pool. 

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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