Tezos (XTZ) just had the largest number of contract calls in January, with several dApps due to laynch. Tezos also ranks 7th among the best staking crypto assets. In February, there is the opportunity to launch some new dApps and the most distinctive modification of the Tezos: Edo.
Smart Contract Call Record
Tezos is one of the surviving and still growing projects of the ICO frenzy in 2017 when it raised $232 million. While taking a closer look at its performance last year, several successful upgrades to the protocol are attracting more DeFi platforms, DEXes, and NFT marketplaces to the blockchain in 2021.
Contract calls are interactions with a smart contract in the form of transactions. It is an important indicator of the increasing adoption of the mainnet’s smart contracts. Currently, the number of contract calls has increased to 1,209% of the July 2020 total. Each month thas seen a new record in the number of calls, except for November, which fell by 10%.
January saw a 22% increase over December, putting the growth at 2.2 times more than the total number of contract calls in July last year, clearly indicating its exponential growth.
Further on, developer activity is still showing continuous growth; an average of 700 new test networks were deployed each day in December increasing to 930 in January. February will bring many new launches and achievements to Tezos and maybe even more in the future.
Bringing Oracles to Tezos
Oracles are the backbone of the current DeFi platforms. They are an integral part of providing real-time financial price data to logs and applications so that the platform can create financial products, such as algorithmic stablecoins, derivatives markets, loans, and insurance projects.
Harbinger, the oracle developed by Blocksale, offers real-time price issue signing across multiple exchanges and supports market data APIs from Coinbase Pro, Binance, Gemini, and OKEx.
It is based on the Compound Finance Open Price Feed but differs from Chainlink in that it costs money to publish price data in the chain. Tezos difference because it can be cashed by betting on the prize won by the Tezos holder; that is, it can be funded in advance.
With improved protocols, price oracles, entering new markets for Defi, NFT, and DEX, reducing gas costs for cheaper transactions, wrapped ETH and stablecoins, Tezos has the opportunity to compete with Ethereum and position itself as a more scalable alternative in cases of high gas fees on the network.
There are currently 119 projects built on the Tezos blockchain, and if gas rates go down, they could expand even further into DeFi.