Tezos blockchain experiences increased network usage under metrics like the smart contract addresses and the total number of active addresses.

According to CoinMetrics’ latest ‘State of the Network’ <a href="https://coinmetrics.substack.com/p/state-of-the-network-issue-140" target="_blank" rel="nofollow noopener">issue</a> published on February 1, 2022, between January 2021 and January 2022, the number of transactions on Tezos smart contracts increased to more than 50,000 per day from less than 10,000 per day.

The report noted that the growth has been driven by major brands leveraging the blockchain network for NFTs in recent months. Such brands include Gap which recently released an NFT collection on Tezos, which sold out almost instantly.

Additionally, gaming development company Ubisoft also announced Tezos support for gaming NFTs in December. Another notable project utilizing the network is the audio NFT platform, one of which has partnerships with several top brands including Warner Music Group.

In addition, active addresses on the network are at an all-time high of over 45,000 while active smart contract addresses have tripled from under 200,000 to over 600,000 over the past 12 months.

Besides the smart contract addresses gains, Tezos recently announced that the network attained a record six million contract calls in Jan. 2021, a new monthly high.

https://twitter.com/tezos/status/1488204913343610889
<h2><strong>Daily Network Activity Skyrockets</strong></h2>
The research also found that the total number of daily transactions has surged from 40,000 to over 250,000. Similarly, the number of addresses containing more than 1 XTZ has recently surpassed 300,000, increasing 150% from the same time last year.

According to the network's own <a href="https://tzstats.com/" target="_blank" rel="nofollow noopener">tracker</a>, the current daily transaction figure is 309,431, less than just a quarter of the daily transactions on Ethereum which is currently 1.17 million according to <a href="https://etherscan.io/chart/tx" target="_blank" rel="nofollow noopener">Etherscan</a>.

Tezos Transactions and Smart Contract Activity Surges to New Highs

Tezos blockchain experiences increased network usage under metrics like the smart contract addresses and the total number of active addresses.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Tezos Transactions and Smart Contract Activity Surges to New Highs

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