Tezos' smart contract activity is showing huge growth

By Allen Walters | Publish0x posts | 7 Sep 2020


Last month, more smartcontracts have been deployed on Tezos than in the entire existence of Tezos mainnet. This resulted in a 807% growth of smartcontract-related transactions.

Smartcontract growth:
For August, the total amount of new smartcontract deployments on mainnet was more than the total of contracts that have been deployed in the entire period since the launch of mainnet. So in one month, more smartcontracts went live on mainnet, than in the past two years combined. 
- From June 2018 - Juli 2020: 256 smartcontracts have been deployed on mainnet.
- In August 2020 alone: 357.

Additionally, a lot of activity happens off mainnet. There are testnets where devs can learn and develop their skills on Tezos or build more advanced contracts that are to be deployed on mainnet in a later stage of development. This total number of activity growth on Tezos as a whole, is an interesting metric to take a closer look at. The total amount of smartcontracts deployed on Tezos, including smartcontracts on testnets, adds up to 22,476 deployments. (Numbers until the end of August.) So that is on Mainnet, Zeronet, Carthagenet and Dalphanet.
- From June 2018 - Juli 2020: 15,486 smartcontracts have been deployed on Tezos.
- In August 2020 alone: 6,990 new deployments. That is an average of 225 deployments every single day.

This means that 31% of all smart contracts ever deployed on Tezos, have been deployed in August. Just to put that into perspective: from the 26 months that Tezos is live, 31% of all contracts have been deployed in 1 month. And for just mainnet alone, 58% of all contracts have been deployed last month. That is very promising growth.

Smartcontract related transactions:
When smartcontracts run on a blockchain and function, the blockchain needs to interact with the contracts. That happens through transactions. This is where it gets interesting for holders. Besides the fact that certain contracts need to hold an amount of XTZ to function, or somehow enable or incentivize users to hold XTZ, transactions cost fees which is payed in XTZ. So an increase in transactions is an interesting metric from a holders point of view. It adds to the scarcity of XTZ and therefore can add to its value. 
Total contract calls on Tezos main net, including August, was 31.789. August alone was responsible for 20,699 of that number. So 65% of all contract calls have been made last month.
If we look at growth, we see that in July, we had 2,282 contract calls, vs 20,699 contract calls in August. That is 807% growth in a month. If we look at the first 6 days of September, we already see that we will likely match that number. (Even top that number.) So we,re talking sustainable growth.

28cad396e5fcd6c4dc6593ea6a29ad8db0d5ed2c257a616ea1bdf7979fa093b5.png

Screen from https://better-call.dev/stats/mainnet/general

Some examples of Smartcontracts to look forward to
Announced for Q3 and Q4 2020: 2 DEXes will go live (DEXter and QuipuSwap), another digital exchange, named ERX is said to be launched this period too, including a Tezos-based utility token named ER-X token. And a fourth digital exchange is set to be launched in September by QR Capital
Personally I do not expect these exchanges to start with a boom and add enormous volume instantly. But the growth has been upwards so far and all these developments set a bullish stage for Tezos' future.

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Allen Walters
Allen Walters

Fascinated by blockchain and future proofing cryptocurrency. Discover the tech before it gets relevant. Twitter: @IgnoranceIt


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