- The level of smart contracts on it has tripled, and the volume of transactions involving them has increased five times
In 2021 the Tezos blockchain was at the top of an uptrend
The platform competes with Ethereum due to regular updates, low gas fees and environmental friendliness
Yesterday, February 1, CoinMetrics published an industry report. According to him, the past year has been extremely successful for Tezos. The volume of smart contracts based on this blockchain has increased significantly.
Growth in popularity has been especially noticeable in recent years. This ecosystem aims to compete with Ethereum for issuing NFTs. Investors are attracted by the constant scalability and regular updates aimed at advancing the blockchain.
Per 12 months, the volume of network smart contracts increased from 200 before 591. Transaction volume increased from 10 before 116 thousand. This is partly dictated by the support of large NFT platforms. Among them are FX Hash and Ubisoft.
High gas fees and low scalability are forcing investors to seek alternatives to Ethereum. We mentioned this in the article on increasing the popularity of the Solana project.
Tezos, in turn, offers a “carbon neutral” blockchain with “less than a penny” commission. The platform is widely advertised as an alternative to “non-environmentally friendly” sites.
The number of active addresses in the network has also increased over the year. This figure has now peaked at 100 thousand. This is indicative of the increasing popularity of NFTs and DApps within platforms.
Although Tezos still lags behind Ethereum in terms of daily transaction volume, the project continues to grow. Judging by the trend, now is a good time to join it.