Popular blockchain project Tezos has reached a new milestone today, as the number of smart contracts on the network surpassed 10 million for the first time.
Blockchain tech company Madfish Solutions took to popular microblogging platform Twitter to announce the development, saying:
“We congratulate the Tezos community with the first 10 million Smart Contract Calls! It’s a productive year for the Tezos DeFi ecosystem.”
At the time of writing this line, data on Better Call Dev (BCD) suggest that the total number of smart contract calls that have been executed on Tezos blockchain is 10,074,471.
Commenting on the milestone, Tezos co-founder Arthur Breitman took to his Twitter page to celebrate the milestone:
“10,000,000 contract calls on Tezos. 20% of them happened just this past month.”
Tezos Smart Contract Massive Growth in 2021
A smart contract is a self-executing contract between two parties (usually a buyer and seller) that exists on a decentralized network, which has its terms and conditions written in lines of codes.
The network’s smart contract calls have been on a steady growth since the beginning of the year, with each month surpassing the other.
While the number of smart contracts executed on Tezos has grown significantly this year, certain months have been outstanding.
Between April and July, the number of smart contracts for these months surpassed one million each, with June being the month with the highest smart contract execution, with a whopping 2,168,330 calls recorded, representing over 20% of the total calls.
Interestingly, July looks all set to overtake June’s record, as this month has already recorded 1,802,970 calls, with ten days left for the month to elapse.
Tezos Unending Upgrades Key to Network’s Growth
Tezos’ enticing features like reduced gas costs, have seen several Ethereum clients move over to the platform, as they hope to take advantage of the network’s capabilities.
Interestingly, Tezos is not looking to slow down anytime soon, with more upgrade proposals being made on a regular basis.
Last month, Tezos introduced its seventh protocol upgrade proposal, Teztnets and Granada, as the blockchain looks to further reduce its gas costs, improve Tezos finality, and the addition of liquidity baking.
