Announcing Tezos entrypoints analysis

A new set of dashboards with top line views and network visualisation of Tezos transaction activity grouped by entrypoint name

Within the lingo of the cryptocurrencies & blockchain community, the 'build' market attempts to put a positive spin on the market prices of tokens dropping significantly for a yet-to-be-determined amount of time. The hope is that people are again focussed on what the technology actually does or can be *built* to do as opposed to the (over-)hyped narratives around it.

EthCC (Ethereum Community Conference) took place last week from Monday to Thursday in Paris. Together with this conference countless numbers of side events, meetups parties, hackathons took place as well throughout the week and going into the weekend, which often are full-blown conferences in their own right. The Stack Report was there in Paris as well to understand what new ideas are bubbling up in this 'build' phase for the envisioned blockchain-based de-centralized internet. So read ahead, although far from exhaustive, this is a high-level rundown of some of the ideas floating around in Paris during the week of 15 to 23 July, 2023. 

---

### Intent-centric architecture
Although the idea has been around, the concept of intent-centric architecture is starting to get broader traction and gets mentions in various contexts.

In an EthCC talk by Adrian Brink this was further explained in detail: [The 3rd generation is intent-centric](https://www.youtube.com/watch?v=mdYwfW6tMJ8)

<iframe width="100%" height="315" src="https://www.youtube.com/embed/mdYwfW6tMJ8" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>

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For the most part so far, applications built on blockchain systems are  transaction-based. Applications enable users to construct a variety of transactions which are then signed and compiled in the next block on the chain. The nodes in the blockchain network then execute the transactions, resulting in ledger state changes.

Even though this seems like a clean data flow, there are various limitations and not directly apparent drawbacks to this approach. Firstly, to construct a transaction that will execute successfully you need to be aware of the current state of the ledger, or likely multiple ledgers in a multi-chain and roll-up scaled network, which is a lot of data to keep track of. On top of that, transactions are picked up by block builders who have the opportunity to change the order of transactions within a block, which means they have some opportunity to manipulate the state of the ledger with other signed transactions before your transaction gets included. This leads to front-running opportunities and other types of attacks. An entire industry of MEV (Miner Extractable Value) research and solutions has evolved around these opportunities.

The thinking behind intent-centric architecture is to decouple the life-cycle of a transaction in a couple of steps. Firstly, the user expresses their intent, which is described in terms of how the user would like to see the ledger state change. This intent is in itself signed and possibly even sent on-chain depending on the architecture or through various off-chain channels. The intent is then picked up by a counterparty who can match the intent with their own intent and construct a transaction that will enact the state change. Resulting in a more explicit marketplace of transaction execution where the economics within the system again intended to drive towards user value as opposed to MEV.

Rather than explain the full concept in more detail, from the Anoma Docs:

> An intent, so named because it conveys an intention, is a message sent by a user describing a preferred state of the system. After a user sends an intent, two phases take place: counterparty discovery and settlement. In the counterparty discovery phase, network participants examine and match compatible intents, forming transactions which enact particular state changes. Transactions then enter the settlement phase for ordering, execution, and confirmation by consensus, after which users can read the updated state.

**Source: [https://specs.anoma.net/main/](https://specs.anoma.net/main/)**

But it is not just at EthCC that the topic came up, also on the Modular Summit side-conference a further definition of intent was given (not by accident by another Anoma team member):

> An intent is a commitment to a preference function over the state space of a given system.

See: [Intent-centric rollups](https://www.youtube.com/watch?v=Brv0_qeeSq8)

<iframe width="100%" height="315" src="https://www.youtube.com/embed/Brv0_qeeSq8" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>

<br />

---

### Dutch auctions for DeFi trades


During EthCC 2023, the UniswapX protocol was announced, which can be roughly summarized as a Dutch auction system for DeFi trades. Instead of putting in a transaction to AMMs directly or through a router, you put in an intent to trade. This is then broadcasted through various off-chain channels, enabling searchers to find the most optimal moment to trade.

With this approach, it is actually an implementation of an intent-centric architecture. It is not the first implementation of this approach, with ideas of off-chain intent-broadcasting already mentioned in white-papers such as [0x](https://github.com/0xProject/whitepaper/blob/master/0x_white_paper.pdf) six years ago in 2017 and an [Eth research forum post](https://ethresear.ch/t/dutchx-fully-decentralized-auction-based-exchange/2443) in 2018. With the position of Uniswap in the industry, there is a larger possibility for this to become the broadly adopted standard.

The protocol also includes the possibility of trades to bridge multi-chain and rollup state changes. Bringing events from one chain to another to resolve cross-chain trades. Bridges become oracles, attesting that a trade on one chain has happened to unlock the funds for the trade on the other chain.

View the announcement during EthCC by Hayden Adams in his talk: [Onchain trading](https://www.youtube.com/watch?v=vERROMA-cKY)

<iframe width="100%" height="315" src="https://www.youtube.com/embed/vERROMA-cKY" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>

<br />

And read the UniSwapX whitepaper: [whitepaper-uniswapx.pdf](https://uniswap.org/whitepaper-uniswapx.pdf) 

---

### Big beefy Roll-ups on Tezos

On the day following EthCC, the Tezos community had their by now second incarnation of the TezDev developer conference. The core development teams of Tezos have been working on a [roadmap towards roll-ups](https://research-development.nomadic-labs.com/next-generation-rollups.html) for scaling as well, this was the year where these could get [demoed in real life](https://www.youtube.com/watch?v=2EgjMvEIGww). Accompanying the demos there was plenty of discussion on what kind of architectures are then enabled by roll-ups.

On that question, one of the co-founders of Tezos, Arthur Breitman proposed his vision of big beefy roll-ups. Instead of having many so-called 'app-chain' specific roll-ups, the proposal is to have one big roll-up that various parties still publish their smart contracts to, but that can be used for all kinds of applications. A key enabling decision early on in the Tezos architecture is that its roll-ups are WASM-based. This means that any programming language that can compile to WASM can be used to write smart contracts. (This includes Solidity, the language used for Ethereum smart contracts, which can also compile to WASM.)

The key concept for this vision of big beefy roll-ups is *composability*.

Composability has been a proof-point already for blockchains and also Tezos. Through on-chain smart contracts and a global state, distributed teams and even individual developers are enabled to permissionlessly build on top of each other.

Think of a smart contract blockchain as a potential place to integrate with other pieces of software. As a programmer when writing software you can integrate other pieces of software by for example importing a package or code library into your own codebase, or by calling an API to leverage data from another platform. Smart contracts published on the same chain propose a similar concept that actually gives you both data and code composability within a single 'virtual' compute environment.

On The Stack Report, you can see this composability in action in the *Transaction Flow* sections on our [Tezos smart contract dashboards](dashboards/tezos/contracts).

Watch the talk by arthur here: [Tezos 2.0: The Next Era of Rollups - Ultra High Throughput | TEZDEV 2023
](https://www.youtube.com/watch?v=6USr8iqXXFE)

<iframe width="100%" height="315" src="https://www.youtube.com/embed/6USr8iqXXFE" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>

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---

And the panel discussion on [The Current State of L2s](https://www.youtube.com/watch?v=TrNMT2vC6Jw).

<iframe width="100%" height="315" src="https://www.youtube.com/embed/TrNMT2vC6Jw" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>

---

### Wallets, user identity, account abstraction

In these still technological exploration phases of the development of blockchain systems, the user experience largely revolves around the cryptograhic actions of generating keys and signing transactions. These keys, hashes and actions gain meaning by encoding higher-level concepts. Other tech stacks show that end users largely want to interact with those concepts, rather than the underlying tech. When you open a social media app you immediately get a feed of content thats compiled through a large stack of technologies, database queries, machine learning models, etc. But you don't see any of that, you just see the content.

The 2021 NFT craze was a big experiment in leveraging a blockchain hash to create 'sign value' around online identities. At the same time this was still based on relatively risky technology where accounts were fully based on owning a single private key for most users. A persons identity is a very fluid and emergent concept, it is time that builders start to think about capturing this with learnings from the past two years. 

Vitalik talked to the [History of Account Abstraction](https://www.youtube.com/watch?v=iLf8qpOmxQc). Running through various ideas for how to construct accounts with further security properties.

<iframe width="100%" height="315" src="https://www.youtube.com/embed/iLf8qpOmxQc" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>

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---

More on the UX side, there was the talk that delves in to how to potentially create [The Invisible Wallet](https://www.youtube.com/watch?v=cMiLoaCdWqY). It's still an open question for the design of the blockchain experience, s the wallet a core UX module or will it disappear into the application experiences?

<iframe width="100%" height="315" src="https://www.youtube.com/embed/cMiLoaCdWqY" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>

<br />

---

Then there is still the issue of the mixed metaphor of the 'Wallet' apps that exist today. A wallet in the blockchain sense doesn't actually 'hold' any of the tokens, it merely displays the blockchain registrations of your account address in various smart contracts that have registered the users account address as owner of a token.

More commercially, the experimentation for brands to establish connections with customer identities through blockchain-based wallets is actively being explored. On Tezos this year the [McLaren F1 Collectibles](/dashboards/tezos/contracts/KT1BRADdqGk2eLmMqvyWzqVmPQ1RCBCbW5dY) are getting a high level of engagement. At EthCC Mcfarland talks through how blockchain enables [a 'connected CRM' for brands](https://www.youtube.com/watch?v=9EIEOgxJV9A).

<iframe width="100%" height="315" src="https://www.youtube.com/embed/9EIEOgxJV9A" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>

<br />

---


Is this the crypto punk vision of the future web though? Users publishing their data on open blockchains for all to see, for brands to scrape legally? Giving up privacy within the [Digital Identity Trilemma](https://blog.mollywhite.net/is-acceptably-non-dystopian-self-sovereign-identity-even-possible/).

---

### Real-world* use case: Game shards

**Editors note: Actually, digital games are virtual worlds**

Gaming and blockchain is still a puzzle to be cracked with new attempts. The pitch remains the same, the tech has further developed. 

From an end-user experience a game is often a total artwork, with visuals, interaction and sound designed fully together for a specific experience. But the top most influential games have often been more than that, a modding platform, map editors, abilities for plug-ins and extensions. The most successful games have been platforms for user-generated content.

It is again the promise of permissionless interopability. Before, it was only the game engine and some of the game assets, blockchain enables the various levels of the game state to be shared and extended.

With scaling possibilities of roll-ups, the amount of game state that can be realistically published 'on-chain' becomes meaningfully larger. Allowing for experiments and pitches such as this: [World Engine: Horizontally Scaling Rollups With Shards](https://www.youtube.com/watch?v=Ot6OgSRm1w4)

<iframe width="100%" height="315" src="https://www.youtube.com/embed/Ot6OgSRm1w4" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>

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---

<br />

### Other random observations

- [What to do with all the jargon, NFTs, sharding, DeFi?](https://www.youtube.com/watch?v=1Qb42-Vz0qg)
- [Of course there is an AI cross-over.](https://www.youtube.com/watch?v=f4X841gDnwY)
- [Smart contract triggering stable diffusion](https://www.youtube.com/watch?v=4GgM1jY4wOw)
- [Dogfooding blockchain in IT /w decentralized compute](https://www.youtube.com/watch?v=bUZIgcbEk8k)
- [Attempts to envision real-world end-states](https://www.youtube.com/watch?v=Fm-DpM7w6G4)
- [Tech stack for privacy-first smart contracts](https://www.youtube.com/watch?v=yhBYhKWEbdw)

<br />


To conclude, within this 'build' market the social layer maintains its momentum. The builders continue with protocol design, standards and technology development around blockchain, further mapping out the possibility space of decentralized technologies. Ideologically driven, looking for real-world use cases.

Review - EthCC Week 2023 in Paris

Intent-oriented architectures, beefy roll-ups and IT as application layer

In development for a while already with an [initial commit](https://github.com/bluesky-social/atproto/commit/b3110f0eb58c05c34ccec29447bb9b8b2f082373) in April 2021 on the AT protocol repo, the **Bluesky App** has suddenly become the hot new thing in social media.

Growing to ~10k+ daily active posters within the time frame of April 2023 and now over a 100k posts being added daily.

The chart below shows this growth in <span style="background:rgb(10,20,200);color:white;">daily active users</span> in the <span style="background:rgb(10,20,200);color:white;">dark blue</span> line and <span style="background:rgb(10,100,250);color:white;">daily posts</span> in the <span style="background:rgb(10,100,250);color:white;">light blue</span> line.

<div>
<chart
 start_date="2023-02-01"
 end_date="2023-05-01"
 >
bluesky-early-adoption-q1-q2-2023
</chart>
</div>

The project claims to be developing a protocol with a re-thinking of the tech *stack* for more open social networks. Though to launch the first implementation of that protocol, the Bluesky app started adding users through an invite-only policy. 

This being an open protocol though, Software Developer [Zhuowei Zhang](https://twitter.com/zhuowei) was able to get access to the posts and users data and published a [Bluesky data dump](https://worthdoingbadly.com/bsky/) on his blog. Which was used as data source for the creation of the above chart. Dataset includes posts until May 1st, 2023.

Some of the innovations included in the protocol are the use of [Decentralized Identifiers](https://www.w3.org/2019/08/did-20190828/) (DIDs) and an architecture for multiple parties to develop feed algorithms to aggregate posts for various purposes ranging from the by now familiar personalized feed to more possibly innovative ideas.

---

Further reading:

- [Bluesky data dump](https://worthdoingbadly.com/bsky/)
- [AT Protocol repository](https://github.com/bluesky-social/atproto/)
- [Decentralized Identifiers](https://www.w3.org/2019/08/did-20190828/)

Bluesky early growth

Open AT-protocol-based Bluesky app grows to 10k+ daily active users in April 2023

Tezos successfully performed a live upgrade of its network to the Mumbai protocol on March 29, 2023. The protocol received the endorsement by the Tezos community through its on-chain voting process. 

The chart below shows block times before and after the upgrade.

![](https://the-stack-report.ams3.cdn.digitaloceanspaces.com/articles_assets%2F2023%2FTezos-mumbai-protocol-upgrade%2FTSR%20Tezos%20Mumbai%20protocol%20upgrade%20chart.png)


The upgrade itself went smoothly, with minor block delays for ~5 minutes before the network started baking blocks at a newly configured interval of 15 seconds per block. Although faster block times will be the most immediate UX improvement, the upgrade also brings smart contract roll-ups to the protocol, which might be much more significant in the long-term.

Smart Contract Roll-Ups add a new so-called 'layer 2' scaling capability. This extra layer in the blockchain tech stack enables developers to write software that compiles to WASM and connect it to the Tezos blockchain network while using dedicated roll-up nodes for computational scalability. 

For further reading about the Tezos Roll-up architecture we refer you to the documentation by the core developer teams: [https://tezos.gitlab.io/alpha/smart_rollups.html](https://tezos.gitlab.io/alpha/smart_rollups.html).

This is another building block for a permissionless, de-centralized tech stack for the internet, and as such The Stack Report will of course keep you updated on the latest developments in this space.

---

### Mumbai protocol upgrade

The Mumbai protocol upgrade was developed by [Nomadic Labs](https://www.nomadic-labs.com/), [Marigold](https://www.marigold.dev/), [TriliTech](https://www.trili.tech/), [Oxhead Alpha](https://www.oxheadalpha.com/), [Tarides](https://tarides.com/), [DaiLambda](https://www.dailambda.jp/projects/) & [Functori](https://www.functori.com/).

The upgrade was proposed and announced on the Tezos Agora forums on January 17, 2023. For the announcement message and discussion, see [https://forum.tezosagora.org/t/ptmumbaii/4988](https://forum.tezosagora.org/t/ptmumbaii/4988). The first vote for the protocol during the Proposal phase came from [BakingBenjamins](https://twitter.com/BakingBenjamins) in the following [transaction](https://tzkt.io/oozzfpKdUv9N3J7rFUU6UK52emjE4fcuBD8pt1YF4juomn2kUXS).

---

### About Tezos on-chain governance

Tezos is a blockchain platform that allows for the creation of smart contracts and decentralized applications. To keep the platform running smoothly and to introduce new features, Tezos uses a protocol upgrade mechanism.

The protocol upgrade mechanism is designed to be decentralized, meaning that it doesn't rely on any central authority or decision-making body. Instead, it allows anyone who holds Tezos tokens (XTZ) to propose and vote on upgrades to the protocol.

When a proposed upgrade is submitted, it goes through a testing and verification process to make sure that it won't cause any issues or disruptions to the network. Once the upgrade is approved, Tezos token holders are given the opportunity to vote on whether or not to accept the upgrade.


---

**Further reading**

The Stack Report previously covered the [Tezos Ithaca Upgrade](/articles/the-ithaca-transition-in-one-visual-tsr-weekly-13-22).

Tezos Governance allows bakers to vote with delegated xtz. Which creates [unique patterns in the on-chain Tezos data](/articles/the-tezos-delegated-stake-payout-pulse).



Tezos Mumbai protocol upgrade successful

Shorter block times and new smart roll-ups with the new Tezos Mumbai protocol.

Today the [Interpretation Layer](/interpretation-layer) on The Stack Report went live with the launch of Chart Notes. This is the first in what will become a suite of tools to add context and meaning to data streams coming from the new tech stack for the internet.

Chart Notes give you the possibility to leave behind notes for yourself and for others, giving context to specific moments or changes in trends in data. Below you can see a chart with data from the Tezos [HicEtNunc NFT contract](/dashboards/tezos/contracts/KT1RJ6PbjHpwc3M5rw5s2Nbmefwbuwbdxton) with notes added to it.

<div>
<ModelChart
model="contract"
_key="KT1RJ6PbjHpwc3M5rw5s2Nbmefwbuwbdxton"
view="entrypoints-daily"
end_date="2021-11-01"
show_chart_notes="yes"
/>
</div>

The Stack Report team will actively place notes on charts for some key events and moments but the broader community can also leave behind such notes. Why would you want to add Chart Notes? You can leave behind notes for your own memory but also for others by publishing them to the community layer. There you are contributing to a broader understanding of the history of Tezos blockchain.

Further down this post will be more detailed instructions on how to place, publish and show or hide chart notes.

---

### Interpretation Layer

Chart Notes are part of a set of digital tools which collectively are called the [Interpretation Layer](/interpretation-layer) on The Stack Report. Access to these tools in most cases is restricted to holders of <a href="https://objkt.com/collection/KT1LaCf37XyoR4eNCzMnw6Ccp5bfPFQrKYxe" target="_blank">Interpretation Layer Access Cards</a>. 

<div style="padding:20px;">
<a href="https://objkt.com/collection/KT1LaCf37XyoR4eNCzMnw6Ccp5bfPFQrKYxe" target="_blank">
<img width="100%" src="https://the-stack-report.ams3.cdn.digitaloceanspaces.com/articles_assets/2023/chart-notes-announcement/tsr-access-cards-2023.png" />
</a>
<br />
</div>

A small number of cards will be made available at launch and are published on the Tezos blockchain. A handful of lower-numbered cards are listed at special higher prizes for those that wish to provide more support, but overall cards will be available at an intentionally accessible price point of 2 tez. Total supply of access cards will also be fluid and grow over time as these cards are mainly meant as access mechanism to allow the growth of the [Interpretation Layer](/interpretation-layer) in a controlled manner.

Validating ownership of a valid Access Card is done by signing in with your Tezos wallet through the controls in the top right corner of the page. On the [account](/connected-account) page you can then validate your ownership of an Access Card.

---

### Chart Notes controls

Below the core interactions with Chart Notes are demonstrated in short videos.


#### Controlling note visibility

<div style="border: 1px solid rgb(220,220,220); padding:10px;margin-bottom:10px;">
<video width="100%"
autoplay
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>
<source type="video/mp4" src="https://the-stack-report.ams3.cdn.digitaloceanspaces.com/articles_assets/2023/chart-notes-announcement/chart-notes-visibility-controls.mp4" />
</video>
</div>

Notes can exist in multiple layers of visibility:
- Private
- Community
- Curated

Just above the main chart area is clickable area which is meant to quickly toggle community-layer visibility. Visibility for the other note layers can be controlled through the menu in the top right corner of the chart.

---

#### Adding a new note

<div style="border: 1px solid rgb(220,220,220); padding:10px;margin-bottom:10px;">
<video width="100%"
autoplay
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<source type="video/mp4" src="https://the-stack-report.ams3.cdn.digitaloceanspaces.com/articles_assets/2023/chart-notes-announcement/chart-notes-add-a-note.mp4" />
</video>
</div>

Adding a new note is done by positioning and clicking on a specific point on the x axis of the chart. In a lot of cases it is easier to position it on a specific date by first zooming in a little bit with the timeline brush.

*NOTE: Chart Notes can only be stored when you hold a valid Access Card*

After placing the note you can then edit the note text and store it in the database. If you want to publish it to the community layer you can do so by clicking the eye button on the left. See the next video:


<div style="border: 1px solid rgb(220,220,220); padding:10px;margin-bottom:10px;">
<video width="100%"
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>
<source type="video/mp4" src="https://the-stack-report.ams3.cdn.digitaloceanspaces.com/articles_assets/2023/chart-notes-announcement/chart-notes-publish-to-community.mp4" />
</video>
</div>

The Stack Report will actively review new community notes and curate a small selection of key notes that will be visible by default on charts.

---

#### Deleting a note

Non-curated notes can be deleted at any time by the original publisher of the note simply by clicking the trash can icon on the right.

<div style="border: 1px solid rgb(220,220,220); padding:10px;margin-bottom:10px;">
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<source type="video/mp4" src="https://the-stack-report.ams3.cdn.digitaloceanspaces.com/articles_assets/2023/chart-notes-announcement/chart-notes-deleting-a-note.mp4" />
</video>
</div>


---

This is a first iteration of the Chart Notes tool and we are looking forward to see how you will start using it. 

For further reading check out the specific page on the [Interpretation Layer](/interpretation-layer).

Chart Notes & Interpretation Layer Launch

Launching today, Chart Notes. The first in a set of tools to interpret, add context and meaning to data on the stack report.

Interesting applications rarely live in isolation. A blockchain system similarly connects in a variety of ways to other systems and data. One such approach has been named after the concept of an Oracle from antiquity. Beings that have the power to communicate outside of the physical universe, bringing meta-physical truths into the known reality. Following this metaphor, a blockchain would be its own little computational universe.

In this article, we dissect this metaphor by looking at the usage data of a handful of oracle smart contracts deployed on the Tezos blockchain.
Before that though, we need to briefly go into on-chain data. To get to the practical computational nuts & bolts that "link" on-chain & off-chain data, powering their 'truth telling' abilities. 

---

#### Blocks & the state

Data on a blockchain is stored as operations in blocks, the full set of blocks can be used to compute the most recent *ledger state*. This state is accessible by smart contracts as input. Multiple contracts can work together to generate and transform data based on user input. The current state, together with user input in the form of transaction parameters, can be used to generate new data, which is then stored in a new block.

This already indicates the basic way for data to enter this universe. Simply as a text or number input as part of a transaction.

Sidenote: *Why would you want data to enter this universe? The promise made by blockchain systems is that the state and rule set for which transactions are permissible are strongly enforced by a distributed network of computers through a consensus mechanism. Creating strong guarantees on data immutability and smart contract behavior. This "universe" is very much unlike our own universe. Whereas the real universe is chaotic & un-deterministic, blockchain 'world computers' are in most cases designed to be explicitly fully deterministic. Previously we have looked at which entities have taken up that role of [baking blocks](/articles/top-tezos-block-producers-tsr-weekly-16-22) for the Tezos blockchain.*

---

#### on-chain / off-chain

There are various ways for implicitly link to information into and out of the chain.

*Outside-in:*
Entities such as blocks, transactions, smart contracts within the chain have identifiers that can be referred to by outside systems to retrieve information from the chain. Tools such as indexers and block explorers extract this data from a chain node and often keep their own copy for faster access.

*Inside-out:*
A smart contract can store and read data in the blockchain state in what is simply called the smart contract *storage*. For example most NFT smart contracts have a set of text strings in their storage pointing to an off-chain entity such as an IPFS url with the artistic assets.

The on-chain text string matches an off-chain url which usually is provided as one of the transaction parameters during the `mint` call on a smart contract. Due to the common practice to refer to this metadata through IPFS links, an NFT marketplace front-end implicitly knows how to go *outside-in* to find the links by reading smart contract data through RPC calls or via an indexer and then to navigate *inside-out* to the IPFS url to retrieve the image data. This is a very simple example, but it shows how the on-chain universe can link outside to the off-chain world. 

This is all very basic information copying & linking. What makes on-chain data "special" is that it can directly be accessed by smart contract code.

---

Back to Oracle contracts.

An oracle in its technical execution actually doesn't differ too much from how an NFT contract stores urls. In most designs, data also comes in simply as a transaction parameter. Instead of serving as a pointer to off-chain data, an oracle brings back data from the outside world and stores it to be accessed by other smart contracts in the on-chain universe. 

To summarize, oracles bring external data on to the chain, making it available to other smart contracts in code execution. 

As described in the Tezos documentation:

> Oracles ... offer a way to obtain data from off-chain sources and to make it available on-chain.

[https://opentezos.com/defi/oracles/](https://opentezos.com/defi/oracles/)

The main approach we currently see on Tezos are Oracle mechanisms where data is pro-actively pushed to the chain into a smart contract by an off-chain system injecting wallet transactions. Making it directly available to other smart contracts through views. This requires a constant flow of transactions to be sent to the chain, which we will see in the data below. This is not necessarily ideal, as it can lead to a lot of unnecessary transactions and gas costs.

Oracle mechanisms can also be designed to bring data onto the chain in response to a request from another smart contract. A smart contract that is in need of data from the oracle would push a transaction to the oracle smart contract. An off-chain system continuously listens to these *data request transactions* and when it sees one, it will push a new transaction to the smart contract with the data as a transaction parameter. From there it can be passed back to the requesting contract in various ways. Either, a follow-up transaction in a later block is able to retrieve the data from a view with the hope that it was correctly updated by the off-chain system. 

This data is maintained in contract storage and becomes available to other contracts through what is called a *view*. A view is similar to a contract entry point in that it can be called by other smart contracts. The main difference is that it doesn't have any direct effect, all it does is return a value.

With this mechanism, other smart contracts can request the data and use it in their own internal logic. 

[https://opentezos.com/smart-contracts/smart-contracts-concepts#views](https://opentezos.com/smart-contracts/smart-contracts-concepts#views)

---

#### Oracle examples on Tezos

With all of that explanation out of the way, lets take a look at some Oracles on the Tezos chain.


**Kaiko price oracle**

The Kaiko price oracle is a simple example of an off-chain system continuously injecting transactions to maintain a value in contract storage. At a regular interval, a wallet address calls the `update_value` entrypoint with values for the *usd/chf*, *xtz/chf* and *xtz/usd* change rates, including a timestamp to mark the values.

The chart below shows the number of times per day that values are updated in the contract. Which is about ~1,440 times per day or ~60 times per hour. Which for Tezos means that every other block, the value is updated.

<div>
<ModelChart
model="contract"
_key="KT19kgnqC5VWoxktLRdRUERbyUPku9YioE8W"
view="entrypoints-daily"
end_date="2022-09-26"
/>
</div>

The Kaiko Price Oracle currently regularly produces ~**1**% of all daily contract calls on the Tezos chain:

<div>
<ModelChart
model="contract"
_key="KT19kgnqC5VWoxktLRdRUERbyUPku9YioE8W"
view="transaction-share"
start_date="2022-01-01"
end_date="2022-09-26"
/>
</div>

It's hard to say if it's worth it to update the value so many times, as currently there is no direct way to track if the value is actually used by other contracts. 

Calling *views* by design do not produce an explicit transaction, so code analysis would have to be done to infer if calls to views were performed as part of smart contract execution. (Possibly [events](https://www.marigold.dev/post/how-to-send-events-from-contract-fast) can enable logging of view usage in the future.)


---

**[Harbinger oracle](/dashboards/tezos/contracts/KT19B8uSfiQ8Cxk99ELc7MPccQ9ihyy7jhDU) & [Normalizer](/dashboards/tezos/contracts/KT1KBrn1udLLrGNbQ3n1mWgMVXkr26krj6Nj)**

A second example of a continuously updating oracle system is the Harbinger oracle, which also includes a *normalizer* contract, computing a weighted average of the raw data from the oracle.

Harbinger price oracle gets called about ~144 times per day, which is about once every 10 minutes.

<div>
<ModelChart
model="contract"
_key="KT19B8uSfiQ8Cxk99ELc7MPccQ9ihyy7jhDU"
view="entrypoints-daily"
end_date="2022-09-26"
/>
</div>

Within the execution of the `update` entrypoint call on the price oracle, `update` on the Harbinger Normalizer is called as well. 

<div>
<ModelChart
model="contract"
_key="KT1KBrn1udLLrGNbQ3n1mWgMVXkr26krj6Nj"
view="entrypoints-daily"
end_date="2022-09-26"
/>
</div>

The normalizer computes a weighted average based on a specified number of most recent price updates.

---

**[Ubentic defi index oracle 2](/dashboards/tezos/contracts/KT1MFfBe4EtzDofUcfeBmNShJPesY4HhfjMC)**

The Ubentic oracle system is a bit more complex. The *[Ubentic defi index oracle 2](/dashboards/tezos/contracts/KT1MFfBe4EtzDofUcfeBmNShJPesY4HhfjMC)* contract serves as gateway to two other contracts capturing on-chain data.

Within this first contract, a list of wallets is maintained together with parameters for the interval, fees, gas and storage limits. Multiple wallets are calling the `fulfill` entrypoint throughout the day, but not necessarily at a fixed interval.

<div>
<ModelChart
model="contract"
_key="KT1MFfBe4EtzDofUcfeBmNShJPesY4HhfjMC"
view="entrypoints-daily"
end_date="2022-09-26"
/>
</div>

THe below chart shows that in the range of 7 to 12 accounts are actively calling the contract on a daily basis.

<div>
<ModelChart
model="contract"
_key="KT1MFfBe4EtzDofUcfeBmNShJPesY4HhfjMC"
view="accounts-active-daily"
end_date="2022-09-26"
/>
</div>

The above contract then calls the below two contracts which maintain token prices as well as extra information about the provenance and validity of the data.


**[Ubentic index oracle](/dashboards/tezos/contracts/KT1P8Ep9y8EsDSD9YkvakWnDvF2orDcpYXSq)**

<div>
<ModelChart
model="contract"
_key="KT1P8Ep9y8EsDSD9YkvakWnDvF2orDcpYXSq"
view="entrypoints-daily"
end_date="2022-09-26"
/>
</div>

<div>
<ModelChart
model="contract"
_key="KT1KzdDAVkEwLUhemZBp8asMJ9nvfbp6eV9C"
view="entrypoints-daily"
end_date="2022-09-26"
/>
</div>


See the [storage](https://tzkt.io/KT1P8Ep9y8EsDSD9YkvakWnDvF2orDcpYXSq/storage/) of the Ubentic index oracle for a detailed view of how the values, including metadata to document data provenance are captured in the on-chain data.


---

A last Oracle style contract to highlight is one not in the DeFi space but a more generic building block, which makes "random" values available on the chain:

<div>
<ModelChart
model="contract"
_key="KT1UcszCkuL5eMpErhWxpRmuniAecD227Dwp"
view="entrypoints-daily"
end_date="2022-09-26"
/>
</div>

The code of the Randomizer contract is available on [Github](https://github.com/asbjornenge/tezos-randomizer). 

As mentioned in the introduction section, what makes a blockchain "universe" different & valuable, comes in a large part from this being a fully deterministic system. If we go through and execute the same series of transactions on any of the nodes, the end state should be exactly the same. For this article we'll not go deep into the mechanics of how random values are generated. 

The Randomizer contract makes its random number generator function available in a couple of ways both through views and through callbacks. You have the option to provide your own "entropy" value which should be some hard to predict sequence the caller of the contract still would need to produce. The contract also maintains an entropy seed value in its own storage, which is updated regularly by wallets from an off-chain source and is currently the main set of transactions generated for this contract. Using this entropy value 

Why would we want randomness on a blockchain? There are a number of potential use cases but some practical relatable use cases are for example give-aways, lotteries, or randomized ticket queues for events that are in high demand. Bringing it back to the theme of Oracles, randomness is one of the attributes we as humans seem to associate with 'fairness' in a system and in the universe. Where whoever you are, any prior knowledge is worthless and you have an equal chance just like anyone else.

---

#### Conclusion

As applications leveraging blockchain smart contract technology continue to evolve, the need to move information into and out of the chain will most likely increase as well. Oracles are just one of multiple concepts to establish connections between external information systems. A related theme is for example the concept of bridging tokens from one chain to another. 

Whereas a lot of attention is given to the decentralized nature of blockchain networks, these connecting systems between blockchains such as oracles often have quite a reliance on the trust of a centralized party providing the data. As can be seen in the Ubentic Oracle system, further data signatures and proofs about the process and system in which the data was collected can be provided to provide documentation on the provenance of the data as well. Also from a hardware perspective you might want to have a network of computers and accounts pushing data to the chain with a consensus mechanism to filter out bad data.

In the further research study below, other architectures for aggregating data are proposed to create more decentralized oracle systems. 

As The Stack Report, we'll continue to keep a close eye on the developments of this interfacing layer between various parts of the tech stack in the new de-centralized era for the web. 

---

#### Further reading

- [A Study of Blockchain Oracles - Abdeljalil Beniiche](https://arxiv.org/abs/2004.07140)
- [Entropy & RNG](https://www.redhat.com/en/blog/understanding-random-number-generators-and-their-limitations-linux)

---

#### Contracts mentioned

- [Kaiko Price Oracle](/dashboards/tezos/contracts/KT19kgnqC5VWoxktLRdRUERbyUPku9YioE8W)
- [Harbinger Oracle](/dashboards/tezos/contracts/KT19B8uSfiQ8Cxk99ELc7MPccQ9ihyy7jhDU)
- [Harbinger Normalizer](/dashboards/tezos/contracts/KT1KBrn1udLLrGNbQ3n1mWgMVXkr26krj6Nj)
- [Ubentic defi index oracle 2](/dashboards/tezos/contracts/KT1MFfBe4EtzDofUcfeBmNShJPesY4HhfjMC)
- [Ubentic index oracle](/dashboards/tezos/contracts/KT1P8Ep9y8EsDSD9YkvakWnDvF2orDcpYXSq)
- [Randomizer by asbjornenge](/dashboards/tezos/contracts/KT1UcszCkuL5eMpErhWxpRmuniAecD227Dwp)

---

#### Previous Tezos analysis articles

- [The Tezos staking payout pulse](/articles/the-tezos-delegated-stake-payout-pulse)
- [Blockchain-native abbreviations](/articles/blockchain-native-abbreviations-tsr-12-22)
- [Top Tezos block producers](/articles/top-tezos-block-producers-tsr-weekly-16-22)
- [The Ithaca transition in one visual](/articles/the-ithaca-transition-in-one-visual-tsr-weekly-13-22)

Oracles in the on-chain universe

Extending the metaphor of oracles, we take a look at how on-chain data links to other entities outside of the system.

Block space and fee share statistics charts have been added to Tezos smart contract dashboards. We'll briefly define the top line metrics and then jump straight into some examples.

***Block space share :*** Percentage of transactions taken up by this contract in total nr of transactions for the day.

***Baker fees :*** Xtz paid to bakers for this contract in absolute xtz value.

***Baker fee share :*** Xtz paid as percentage of total baker fees. 

---

#### Examples of insights

What kind of learnings can be taken from looking at block space share and baker fees?

Assessing impact of specific dApps and users on overall Tezos usage:

*Hic Et Nunc*

<div>
<ModelChart
model="contract"
_key="KT1RJ6PbjHpwc3M5rw5s2Nbmefwbuwbdxton"
view="transaction-share"
end_date="2022-01-01"
/>
</div>

In 2021, at its peak the Hic Et Nunc marketplace contract contract calls made up  close to 50% of all contract call transactions on the Tezos blockchain.


<br />
<br />

##### Fees

Peaks in fees to get priority on major NFT releases.

*FXHash*

<div>
<ModelChart
model="contract"
_key="KT1BJC12dG17CVvPKJ1VYaNnaT5mzfnUTwXv"
view="fee-share"
end_date="2022-09-27"
/>
</div>

On many days, fxhash minting contract generates the vast majority of baker fees on the Tezos chain. 

See the next chart for the amount of baker fees generated in absolute xtz terms by the [fxhash generative tokens v2](/dashboards/tezos/contracts/KT1BJC12dG17CVvPKJ1VYaNnaT5mzfnUTwXv) contract.

<div>
<ModelChart
model="contract"
_key="KT1BJC12dG17CVvPKJ1VYaNnaT5mzfnUTwXv"
view="baker-fee"
/>
</div>

<br />

---

<br />
<br />

#### Where to find fee share & baker fee stats

These charts can be found for each smart contract on the [dashboards](/dashboards/tezos) pages, under the *baker fees* and *block share* sections.

Metrics added:
- Baker fee sum per day
- Baker fee max amount per day
- Baker fee median amount per day

<br />

- Contract call share per day
- Transactions share per day
- Baker fee share per day

<br />

---

<br />

**Previous announcements**

- [Announcing Tezos Smart Contract Dashboards](/articles/dashboards-announcement)
- [Transaction flow feature announcement](/articles/transaction-flow-new-dashboard-charts)
- [Smart contract xtz statistics](/articles/xtz-statistics-per-contract-entrypoint-charts-announcement)

<br />

---

<br />

**Links**

- [Tezos Blockchain usage statistics](/dashboards/tezos/statistics)
- [Smart contract dashboards](/dashboards/tezos)


Smart contract block space and baker fee charts

New charts have been added to Tezos Smart Contract dashboards, displaying share of block space used and baker fees paid.

Generative Art has had a big comeback. Pre-trained machine learning algorithms have enabled new forms of artistic practice while NFTs allow for digital art to be monetized. Generative Art has been around since the 60s/70s and has evolved together with the tools that are used to produce it. 

So let’s have a look at the marketplace dedicated completely to generative art on the Tezos blockchain: *fxhash*. It is a platform for creating and collecting generative NFTs initiated by ciphrd. It started as a beta version in November 2021 and as the first stable version (fxhash 1.0) in April 2022. Instead of generating a token out of a pre-made image like most NFT marketplaces, the piece of code that generates the visuals is uploaded. On minting a hash is created and inserted into the code, “randomly” controlling parts of the visual output, for example, things like color or a noise seed pattern.

In this approach to generative NFTs, fxhash follows the Ethereum-based *Art Blocks* project. But whereas Art Blocks puts ~monthly curated releases front and center, fxhash is an open platform for any artist to publish their creations and enable collectors to mint unique versions.

Core to the proposition of 'generative NFTs' is that these become collectible art pieces. Permissionless publishing and minting create a different kind of market dynamic with potentially unlimited supply, versus the curated Art Blocks model with very explicit expectations around how many generative tokens will be available. In this article, we take a look at how the 'permissionless' model of generative token minting plays out in the on-chain data on the Tezos blockchain. We are also going to look at some data to try to answer the questions of how actively the platform is being used, the number of works minted, as well as sales statistics and some functionality and ideals of the platform in comparison to other marketplaces.

<div>
<ModelChart
model="contract"
_key="KT1Ezht4PDKZri7aVppVGT4Jkw39sesaFnww"
view="entrypoints-daily"
start_date="2021-11-01"
end_date="2022-08-25"
/>
</div>

With the 1.0 release of fxhash, a number of smart contracts were updated, but one remained the same, which is the [FXHASH User Registry](/dashboards/tezos/contracts/KT1Ezht4PDKZri7aVppVGT4Jkw39sesaFnww). Activity on this contract gives us a good overview of the full timeline of the fxhash project.

In the graph above you can see the number of times `update_profile` was called per day since launch until August of this year. During the beta phase, it had a lot of ups and downs in the beginning and a dip in anticipation of the update. With the release of the stable version, calls have been rather more consistent, with a strong peak after the launch of the 1.0 version of the platform, an overall rise in June and some slight dips in May and July.

---

#### The minting process

To be able to understand the data on mint numbers and xtz revenue we should have a look at how token minting works on fxhash and what this tells us about market supply.

Fxhash allows artists to mint **Generative Tokens**.

From the technical side, these are created with the `mint_issuer` call on the [FXHASH Generative Tokens v2](/dashboards/tezos/contracts/KT1BJC12dG17CVvPKJ1VYaNnaT5mzfnUTwXv) contract.

This contract call puts the metadata, the amount, the pricing and other properties on the chain in the storage of the [FXHASH Generative Tokens v2](/dashboards/tezos/contracts/KT1BJC12dG17CVvPKJ1VYaNnaT5mzfnUTwXv) contract.

In the chart below, we can see the `mint_issuer` entry point calls. This shows on average around ~**50** to ~**100** new generative artworks being published onto the fxhash platform by artists per day.

<div>
<ModelChart
model="contract"
_key="KT1BJC12dG17CVvPKJ1VYaNnaT5mzfnUTwXv"
view="entrypoints-daily"
initial_column_toggles='["mint_issuer"]'
start_date="2022-04-14"
end_date="2022-08-25"
/>
</div>


A ‘generative token’ is an issuer of NFTs. After the artist has published the ‘generative token’, it becomes available for collectors to `mint` editions of that generative artwork. Each `mint` contract call transaction triggered by a collector gets assigned a unique hash by the blockchain. This hash then becomes the *"random but permanent"* unique source value for that generation of the art work.

*Minting* a token as a collector involves two smart contracts. As collector when you initiate a `mint` in the front-end, this call goes to the same contract as was used by the artist to create the issuer. This [FXHASH Generative Tokens v2](/dashboards/tezos/contracts/KT1BJC12dG17CVvPKJ1VYaNnaT5mzfnUTwXv) contract then distributes the xtz paid by the collector to the artist and takes the fxhash fees which go to the FXHash treasury. 

Instead of directly creating the final edition NFT in its own storage, it calls another smart contract which also has a `mint` entrypoint.  This is the [FXHASH GENTK v2](/dashboards/tezos/contracts/KT1U6EHmNxJTkvaWJ4ThczG4FSDaHC21ssvi) contract. This is another smart contract that maintains all ‘edition’ NFTs for generative tokens. 

<div>
<ModelChart
model="contract"
_key="KT1U6EHmNxJTkvaWJ4ThczG4FSDaHC21ssvi"
view="entrypoints-daily"
initial_column_toggles='["mint"]'
start_date="2022-04-14"
end_date="2022-08-25"
/>
</div>

The above chart shows the `mint` calls for the contract that maintains the *editions* minted from *generative tokens*.

As the chart shows, there are in the range of ~**2k** to ~**5k** *editions* of generative tokens being minted every day, with a handful of days of more than 10k editions being added on a single day. Keep this number in mind for when we get to the marketplace section.

With about ~**50** to ~**100** *generative artworks* being added every day, a rough eyeball estimate would give about ~**50** *editions* minted on average per artwork. Although most likely a whole number of artworks will have a very low (sub-10s) edition count and a smaller percentage of artworks will have in the hundreds of editions.

Another metric to note is how many *unique wallets* are doing the minting. This does not equate fully to active users but does give an indication.

<div>
<ModelChart
model="contract"
_key="KT1BJC12dG17CVvPKJ1VYaNnaT5mzfnUTwXv"
view="accounts-active-daily"
start_date="2022-04-14"
end_date="2022-08-25"
/>
</div>

This shows in the range of ~**500**-**1500** wallets actively interacting with the [FXHASH Generative Tokens v2](/dashboards/tezos/contracts/KT1BJC12dG17CVvPKJ1VYaNnaT5mzfnUTwXv) contract for the past months. Meaning each wallet on average is minting ~**2** to ~**3** editions per day.

--- 

With *minting*, the process of creating an *edition* of a *generative token* is still not fully finished yet. fxhash has what they call the *signing server*. This is a regular server that keeps track of the latest `mint` calls, and then uses a regular wallet account to call the `assign_metadata` entrypoint to explicitly add the transaction hash to the smart contract storage. See the wallet transaction log for these contract calls: [FXHASH Signer wallet](https://tzkt.io/tz1e8XGv6ngNoLt1ZNkEi6sG1A39yF48iwdS/operations/)

---

So we have an overview of minting on fxhash but how does this compare to minting on other big Tezos NFT platforms?

<div>
<ModelChart
model="contract"
_key="KT1Aq4wWmVanpQhq4TTfjZXB5AjFpx15iQMM"
view="entrypoints-daily"
end_date="2022-08-25"
/>
</div>


Objkt.com (`mint_artist` calls ~**800**-**3000**/day)

In comparison, minting on Objkt.com (a popular marketplace on Tezos that does not specialize in generative NFTs) ranges between ~**800** and ~**3k** per day (As compared to the ~**2k** to ~**5k** for fxhash).

This is done through a functionality where people can create their own collection contract which is ‘controlled’ by the [Objkt.com minting factory](/dashboards/tezos/contracts/KT1Aq4wWmVanpQhq4TTfjZXB5AjFpx15iQMM). 

Even hic et nunc never went beyond ~**5k** mints a day during peak popularity in September 2021.

<div>
<ModelChart
model="contract"
_key="KT1RJ6PbjHpwc3M5rw5s2Nbmefwbuwbdxton"
view="entrypoints-daily"
initial_column_toggles='["mint"]'
end_date="2022-08-25"
/>
</div>

---



Token contracts enable minting and ollowing the FA2 standard, also enable changing the owner of a token through the `transfer` entrypoint. This allows any marketplace contract on the chain to subsequently provide mechanisms for trading of NFTs.

We take a look at these various marketplaces next. 


---

#### Buying and selling tokens

Next to minting of tokens, fxhash also provides marketplace functionality for people to buy & sell editions of generative tokens.

Let’s have a look at fxhash platform activity in comparison to [Objkt.com](https://objkt.com). First in number of active wallets and then in xtz volume.

<div>
<ModelChart
model="contract"
_key="KT1WvzYHCNBvDSdwafTHv7nJ1dWmZ8GCYuuC"
view="accounts-active-daily"
start_date="2022-05-01"
end_date="2022-08-25"
/>
</div>

Objkt.com (Contract calls from wallets per day May - August 2022)

As you can see above, Objkt.com has between roughly ~**2k** and ~**4k** wallets consistently calling contracts each day, with a significant raise in activity at the beginning of May.

--- 

<div>
<ModelChart
model="contract"
_key="KT1GbyoDi7H1sfXmimXpptZJuCdHMh66WS9u"
view="accounts-active-daily"
start_date="2022-05-01"
end_date="2022-08-25"
/>
</div>

Fxhash (Contract calls from wallets per day May - August 2022)

The fxhaxh marketplace shows much less steady usage. Interestingly, the marketplace seems to follow the fxhash minting opening schedule, with a “rest day” every seven days when new tokens cannot be released. On these days the number of wallets dips below 500, while on busy days active wallets can peak to ~**2k** wallets at its max. 

In terms of marketplace activity, on the fxhash marketplace there are about ~**500** to ~**1k** listings being accepted on a daily basis.

<div>
<ModelChart
model="contract"
_key="KT1GbyoDi7H1sfXmimXpptZJuCdHMh66WS9u"
view="entrypoints-daily"
initial_column_toggles='["listing_accept"]'
end_date="2022-08-25"
/>
</div>

Comparing this to the previously shown ~**2k** to ~**5k** editions being minted, clearly the majority of editions are not actively being traded after the initial mint.

Note: *listing an edition on the fxhash marketplace and then unlisting it actually transfers the token to the marketplace contract and then back to your wallet. So the `transfer` entry point on the [FXHASH GENTK v2](/dashboards/tezos/contracts/KT1U6EHmNxJTkvaWJ4ThczG4FSDaHC21ssvi) contract can't be used as a measure for marketplace activity between users.*


---

#### Primary market revenue

So how does the pricing of generative tokens play out on the fxhash platform?

On hicetnunc/teia & objkt.com an artist first *mints* a token and then puts it on the marketplace for an initial price or auction. In the case of fxhash, an artist 'mints' the generative token issuer and then sets a price for collectors to pay when they want to 'mint' editions of the token.

(In other words, the “primary” sale on platforms such as Teia and Objkt.com happens at the moment of first `transfer`, as compared to fxhash where collectors initiate the `mint` and then immediately receive that edition of the token.)

The first thing to take a look at is how much artists are earning directly from this primary minting of editions:


<div>
<ModelChart
model="contract"
_key="KT1BJC12dG17CVvPKJ1VYaNnaT5mzfnUTwXv"
view="entrypoints-xtz-daily"
initial_column_toggles='["mint_xtz_out.sum"]'
end_date="2022-08-25"
/>
</div>

Daily xtz revenue towards artists generated by fxhash minting is in the range of ~**10k** to ~**50k** on regular days, with distinct peaks most likely generated by specific works.

---

<div>
<ModelChart
model="contract"
_key="KT1BJC12dG17CVvPKJ1VYaNnaT5mzfnUTwXv"
view="entrypoints-xtz-daily"
initial_column_toggles='["mint_xtz_out.median"]'
end_date="2022-08-25"
/>
</div>

On fxhash, the *median* xtz generated per mint is in the range of 1-5xtz depending on the day. The [median](https://en.wikipedia.org/wiki/Median) is the value separating the higher half from the lower half in the total dataset. 

This means that on any day at least half the tokens were minted at or above this price point (and the other half at or below). For other platforms on Tezos such as objkt and Teia this number actually hovers more around 1-2xtz, so this number for fxhash is actually a bit higher. This is good news for artists in the so-called 'primary' market.

---

#### Secondary market revenue

After the initial mint, tokens become available for collectors to trade using a variety of market mechanisms. For this article we take a look at the most commonly used method across both the objkt.com and fxhash marketplace. This is the ability to create a `listing` in fxhash terminology and to put out an `ask` as it is called on objkt.com.


<div>
<ModelChart
model="contract"
_key="KT1WvzYHCNBvDSdwafTHv7nJ1dWmZ8GCYuuC"
view="entrypoints-xtz-daily"
initial_column_toggles='["fulfill_ask_xtz_out.median"]'
end_date="2022-08-25"
/>
</div>

---


<div>
<ModelChart
name="Listing"
model="contract"
_key="KT1GbyoDi7H1sfXmimXpptZJuCdHMh66WS9u"
view="entrypoints-xtz-daily"
initial_column_toggles='["listing_accept_xtz_out.median"]'
end_date="2022-08-25"
/>
</div>

Here we can see that the vast majority of Objkt.com transactions hovers below or at the 1 xtz to 2 xtz level. Whereas for fxhash, the median transaction on the secondary market is actually quite a lot higher in the range of 5 to 15 xtz. 


---

So in conclusion, fxhash has an extremely large number of works minted in comparison to other platforms. Of course, this is mostly due to the specialization on generative tokens only, as one piece of generative code can theoretically produce an infinite number of outcomes to potentially be minted. 


Of course this has negative and positive side effects. There is the aspect of “democratization” (arguably a rather optimistic term), namely that minting and collecting is much cheaper and thus accessible to a broader audience. This has the positive effect, that art can be minted or bought out of sheer appreciation of the work, without the intention of generating profit, as it is often not a great financial risk. Also, it is more beginner friendly to artists or collectors who are just starting out, which might also be part of the reason that fxhash has such a large, strongly engaged community. The downside however is that the mindset of “randomly” minting or buying lots of tokens is not very sustainable and there is also the risk of a large number of cheaply priced work diluting the market and potentially making work less visible by artists who actually want to make a living – at least for collectors who are not yet experts. 

The chance of attracting an audience for your art is still higher on fxhash than on platforms like Art Blocks, where upcoming artists don’t really get the chance to showcase their work at all. On the other hand, it is easy to get lost in the flood of artworks minted on fxhash each day. 
So to conclude: the ideals of the platform are definitely to be appreciated (although they do also have their downsides) and it should be interesting to see how it develops further.

---

Article written by: [Maika Dieterich](http://maikadieterich.de/)

With data contributions & analysis by: [Erwin Hoogerwoord](https://twitter.com/hoogerwoord)

Permissionless generative NFT minting on FXHash in data

FXHash allows anyone to create and mint their generative artwork. How are artists using this and what does the data tell about the art value?

The tezos smart contract dashboards have been extended with another new set of charts. With the data pipelines we've started to look into on-chain xtz volumes across the full chain and at the individual *contract*, as well as *contract entrypoint* level.

This means that now, statistics such as the ones below, are ready to be explored on [tezos smart contract dashboards](/dashboards/tezos).

---

<div>
<ModelChart
name="Objkt.com marketplace v2 median fulfilled ask price"
model="contract"
_key="KT1WvzYHCNBvDSdwafTHv7nJ1dWmZ8GCYuuC"
view="entrypoints-xtz-daily"
initial_column_toggles=["fulfill_ask_xtz_out.median"]
/>
</div>

The above chart shows the *median* xtz sale price through the fulfill_ask mechanism of the Objkt.com marketplace contract. The *median* is the middle value when you sort all values from lowest to highest. As can be seen in the chart the *median* fulfilled ask price generally is either 1 or 2 xtz for objkt.com. Meaning at least half of NFT sales through this mechanism go for this value or below.

---

<div>
<ModelChart
model="contract"
_key="KT1WvzYHCNBvDSdwafTHv7nJ1dWmZ8GCYuuC"
view="entrypoints-xtz-daily"
initial_column_toggles='["fulfill_ask_xtz_out.max", "fulfill_offer_xtz_out.max"]'
/>
</div>

Another interesting xtz metric to look at is the *max* fulfilled ask and offer on objkt. This immediately shows the days at which big xtz transactions took place through the objkt.com *ask* and *offer* mechanisms and how much larger they are in proportion to a regular day. 

---

<div>
<ModelChart
model="contract"
_key="KT1WvzYHCNBvDSdwafTHv7nJ1dWmZ8GCYuuC"
view="entrypoints-xtz-daily"
initial_column_toggles=["fulfill_ask_xtz_out.sum"]
color="['rgb(0,0,0)','rgb(150,150,150)']"
/>
</div>

Of course the simple *sum* of all xtz going in and out of a contract per entrypoint is also available.

---

For this brief preview we've only looked at the [Objkt.com marketplace v2 contract](/dashboards/tezos/contracts/KT1WvzYHCNBvDSdwafTHv7nJ1dWmZ8GCYuuC). The data pipeline has computed these statistics for every smart contract which is receiving and/or sending xtz. This is done through a bottom-up mechanism scanning every transaction sequence for all smart contracts on the blockchain. 

The charts on the dashboard pages show the full output generated from this bottom-up analysis of on-chain data. The naming scheme for this data is fully generated from the given names to entrypoints by the developers of smart contracts. This might come across as fairly technical and can get a bit chaotic. 

For example, a full chart showing total xtz volume per day, in/out from all entrypoints at once for objkt.com marketplace v2 looks like this:

<div>
<ModelChart
model="contract"
_key="KT1WvzYHCNBvDSdwafTHv7nJ1dWmZ8GCYuuC"
view="entrypoints-xtz-daily"
/>
</div>

---

By using the labels on the left within the chart, individual xtz volume going into or out of the contract can be highlighted like so:

<div style="border: 1px solid rgb(220,220,220); padding:10px;margin-bottom:10px;">
<video width="100%"
autoplay
muted
loop
>
<source type="video/mp4" src="https://the-stack-report.ams3.cdn.digitaloceanspaces.com/articles_assets/2022/column-highlight.mp4" />
</video>
</div>

*Toggle data columns to zoom in on specific entrypoints.*

---

#### XTZ Transaction attribution

How is xtz being counted and attributed towards different smart contract entry points?

XTZ can be transferred in a couple of transaction forms:

- Direct from one wallet to another
- From a wallet to a contract in a direct xtz transfer
- XTZ attached to a contract call
- From a contract to another account via smart contract code

The charts that have been added visualize the xtz volume that is coming from the latter three transaction forms. That is, all xtz transfers going into or coming out of a smart contract in one form or another.

These kinds of stats are somewhat interesting at the smart contract level but become really meaningful when tracked per smart contract *entrypoint*. Such as the charts above, which zoom in specifically to xtz statistics on fulfilled ask NFT listings on the Objkt.com marketplace contract.

Xtz transfers going into a smart contract through a smart contract call are labeled as `[entrypoint]_xtz_in`. Direct xtz transfers are captured in the data column `__direct_xtz_xtz_in`. These xtz transfer amounts are directly attributable to either the smart contract calls or direct transfers to the contract.

For xtz transfers going out of the contract, this is a little bit less straightforward. A smart contract can transfer xtz out of its own balance by generating new transactions in smart contract code that is executed in relation to a smart contract call. These xtz transfers are grouped together in an operation group with the original smart contract call. In the data pipeline we look at every xtz transfer coming out of a contract, and figure out what the latest smart contract call was that was triggered within that operation group. Within the current statistics calculation, all of the *outgoing xtz transfers* that were found for *a single* smart contract call are then summed together to get the *full* `xtz_out` amount for that single smart contract call.

This data table of smart contract calls with `xtz_in` and `xtz_out` amounts for every entrypoint call is then used to produce daily time series datasets with a common set of statistics:

- sum
- median
- mean
- max

Charts of daily time series for each of these  statistics split by entrypoint are now available within the *xtz statistics* section on tezos smart contract dashboards.

---

#### The xtz token

The xtz (or tez) token is the native token to the Tezos blockhain. It is the only token that can be transferred using direct transactions and is used for many chain-native so-called tokenomics such as rewarding block bakers, paying for gas, storage and fees for transactions. As of writing it is also the token which is used in a lot of cases by smart contracts to do things like buying or selling nfts and trading into and out of various defi/dao tokens. This is currently the dominant token in which many transactions are denominated. In the future as dApp developers start to deploy more advanced smart contracts, the xtz token might become less relevant to day-to-day use and be replaced by xtz wrapping tokens such as [ctez](/dashboards/tezos/contracts/KT1SjXiUX63QvdNMcM2m492f7kuf8JxXRLp4), [oXTZ](dashboards/tezos/contracts/KT1TjnZYs5CGLbmV6yuW169P8Pnr9BiVwwjz) or various stable coins as payment mechanism. 

With the current pipeline, only transfers of this native Tezos token are being ingested. Future work will be to further trace non-native smart contract-generated tokens.

---

#### Analysis caveats

As mentioned before, these charts come from a fully bottom-up full-chain analysis of contract calls and xtz transactions on the Tezos blockchain. All of these numbers are attributable to transactions that actually happened on the chain. But the *meaning* of the transactions, and therefore the numbers, still require further context and interpretation. In many cases the *naming* of the *contract entrypoint*, together with a general understanding of the dApp, the contract is connected to already give a sufficient hint. But it is fully up to the developer of a smart contract to give those entrypoints meaningful, or not so meaningful names, or in some cases developers are even pro-actively obfuscating functionality with generic entrypoint names. It is therefore always good when looking at charts from an unfamiliar contract, to also take a look at the direct transactions using block & transaction explorers such as [tzkt.io][https://tzkt.io].

*dApp revenue & volume calculations*

To calculate the total revenue for a dApp it is tempting to just sum up all the individual xtz transfer volumes in and out of the contract for all entrypoints. However in a lot of cases this will likely lead to double-counting or even include transactions that shouldn't be calculated as revenue at all. For example in the case of the objkt.com marketplace, contract calls such as offers being placed and retracted only pass xtz back and forth between the contract and the offerer, only offers being fulfilled should be counted towards actual xtz volume being exchanged between different accounts.

Current [thestackreport.xyz](https://thestackreport.xyz) dashboarding functionalities are still focussed on the *smart contract* unit of abstraction. Keep an eye out on future announcements as these dataset and visualization capabilities are being further built out.

---

These newly added charts currently reside below the contract usage charts on the [tezos smart contract dashboards](/dashboards/tezos). Navigate to any of the individual dashboard pages and scroll down to discover and explore these newly added xtz statistics graphs in the *xtz statistics* section of the dashboards.

Tezos smart contract dashboards are continuously being extended with new data, charts and visualizations.

Read previous announcements for features that have been added so far:

[Dashboards announcement](/articles/dashboards-announcement)

[Transaction flow visualization](/articles/transaction-flow-new-dashboard-charts)

XTZ Contract statistics - announcement

announcement of new data and charts on xtz statistics per smart contract and entrypoint

In the [weekly trend report](/articles/tezos-weekly-trends-report-w25-2022-1) we take a look at a number of high-level on-chain statistics.

In some of these measured statistics a phenomenon occurs that initially looks pretty strange:

<div>
<chart
 start_date="2022-05-17"
 end_date="2022-07-17"
 >
tezos-chain-wallet-to-wallet-transactions
</chart>
</div>

There seems to be a pulse or oscillation happening around every third day with a peak in wallet to wallet transactions.

This same pulse can be seen in the nr of wallets involved in transactions:

<div>
<chart
 start_date="2022-05-17"
 end_date="2022-07-17"
 >
tezos-chain-wallets-involved-in-transactions
</chart>
</div>

So where does this ~3 day peak in transactions and wallets come from? 

---

#### Liquid proof of stake

The Tezos proof-of-stake mechanism pays rewards based on *cycles*.

One *cycle* corresponds to **4096** blocks (≈ **2.8** days).

On the Tezos chain you can start running your own staking node from *6.000 xtz*. But if you don't have that much (and/or you are not interested in operating a node), you can delegate your xtz to an existing baker within their open capacity. 

Delegated staking rewards first go to the baker, it is then up to the baker to transfer the tez to each individual delegated staker.

Bakers can use tools such as the [Tezos Reward Distributor (TRD)](https://github.com/tezos-reward-distributor-organization/tezos-reward-distributor) to track released rewards at the end of each cycle and automatically trigger payments to its delegators.

A transaction is created for each wallet that is actively delegating their xtz to bakers that have a timely reward payout schedule & mechanism in place.  This results in a large number of transactions* from the baker wallet to its delegates every time a cycle ends. 

Currently most wallets are not actively being used on a daily basis except for holding & delegating xtz. At least for the near future the number of wallets passively involved in staking will likely keep outnumbering wallets with active usage. So the *tezos staking payout pulse* will most likely remain visible in the transaction and wallet metrics for some time to come.

(*These transactions are often grouped together for efficiency, see our article on [transaction groups](/articles/the-transactions-to-transaction-groups-ratio-tezos-chain-analysis))

For a more detailed explanation of how tezos staking works, read on [here](https://opentezos.com/tezos-basics/liquid-proof-of-stake).

---

#### Actual usage

The on-chain activity of paying out delegated staking rewards purely to the internal mechanisms to maintain a consensus. This is an enabling layer to support the development of decentralized applications that have functionality and meaning beyond maintaining the chain itself. 

Apart from direct xtz transfers, most meaningful application interactions happen through smart contracts. The following two charts display the usage metrics specifically related to smart contracts.

<div>
<chart
 start_date="2022-05-17"
 end_date="2022-07-17"
 >
tezos-chain-wallet-to-contract-transactions
</chart>
</div>

Transactions *from a wallet* to a *smart contract* in a lot of cases are triggered by some dApp UI interaction. So this is a metric that gives a good indication of how many end-user actions are being performed by users of the Tezos chain.

---

<div>
<chart
 start_date="2022-05-17"
 end_date="2022-07-17"
 >
tezos-chain-wallets-calling-contracts
</chart>
</div>

Similarly to the previous chart, wallets calling smart contracts are most likely wallets which are in active use for one or multiple dApps built on top of the Tezos chain. This metric then gives a rough indication to how many people are actively using the Tezos chain on a daily basis.

Nr of wallets remains a metric that is not a 100% translatable to nr of users, as people can operate multiple wallets. We've previously introduced [blockchain-native abbreviations](/articles/blockchain-native-abbreviations-tsr-12-22).

Another caveat is wallets can be operated through bot scripts as well, so not all wallet actions are *live* end-user actions either.

---

If you want to see more data related to Tezos staking & baking, previously we've written about the [top block bakers](/articles/top-tezos-block-producers-tsr-weekly-16-22).


The Tezos delegated stake payout pulse

Analysis of the regular ~3 day spike in transactions

The Tezos smart contract dashboards have been extended with more charts and a special visualisation showing the flow of transactions between contracts and accounts.

The following charts have been added:

- Contract users
- Contract-generated transactions

The *contract users* chart shows the number of unique accounts calling the contract per day, split by wallet account and contract account. These are measured by number of wallets and number of contracts sending transactions to the contract.

The below image shows the chart from the hic et nunc NFT contract used for minting HicEtNunc NFTs, which averaged about 4k wallets at its peak and still has around 1k wallets using it every day.

<div
    style="padding:30px;padding-left:60px; padding-right:60px;"
    >
<a href="https://thestackreport.xyz/dashboards/tezos/contracts/KT1RJ6PbjHpwc3M5rw5s2Nbmefwbuwbdxton">
<img src="https://the-stack-report.ams3.cdn.digitaloceanspaces.com/articles_assets/2022/hicetnunc%20nfts%20contract%20users%202022-07-12.png"
    width="100%"
/>
</a>
</div>

*View the live chart on the [HicEtNunc NFTs ](https://thestackreport.xyz/dashboards/tezos/contracts/KT1RJ6PbjHpwc3M5rw5s2Nbmefwbuwbdxton) contract dashboard.*

---

The *contract-generated transactions* chart shows the transactions produced by the smart contract code when its entrypoints are called.

When a smart contract entrypoint is called through a transaction, the code connected to that entrypoint is executed and can generate new transactions. In many cases these transactions are actually targetting other smart contracts. 

The chart shows transactions grouped by targetted contract and entrypoint.

The below image shows the number of transactions generated by the Teia Marketplace contract. When people swap NFTs through the Teia contract, its code actually calls the *transfer* entrypoint on the *HicEtNunc NFTs* contract.

<div
style="padding:30px;padding-left:60px; padding-right:60px;"
>
<a href="https://thestackreport.xyz/dashboards/tezos/contracts/KT1PHubm9HtyQEJ4BBpMTVomq6mhbfNZ9z5w">
<img
    src="https://the-stack-report.ams3.cdn.digitaloceanspaces.com/articles_assets/2022/teia%20community%20marketplace%20generated%20transactions%202022-07-12.png"
    width="100%"
    />
</a>
</div>

View the live chart on the [Teia Community Marketplace](https://thestackreport.xyz/dashboards/tezos/contracts/KT1PHubm9HtyQEJ4BBpMTVomq6mhbfNZ9z5w) contract dashboard.

---

Bringing these two together, we have transactions being created by wallets and other smart contracts coming into the contract on the one side.
On the other side new transactions being generated by the contract going to other wallets and contracts.

The Smart Contract dashboards now include a new visual that gives one overview of this combined flow.

Looking again to the Teia Marketplace contract in the picture below, we can see that this contract is initially called by a large number of wallet accounts in the table on the left. The donut chart visualises the distribution of entrypoints being called, which in this case are mainly *collect* and *swap* calls with some *cancel_swap* calls.

The transactions generated by the contract all target the *transfer* entrypoint on the HicEtNunc NFTs contract.

<div style="padding-top:20px;padding-bottom:20px;">
<a href="https://thestackreport.xyz/dashboards/tezos/contracts/KT1PHubm9HtyQEJ4BBpMTVomq6mhbfNZ9z5w">
<img
    src="https://the-stack-report.ams3.cdn.digitaloceanspaces.com/articles_assets/2022/teia%20community%20transaction%20flow%202022-07-12.png"
    width="100%"
    />
</a>
</div>

---



This is an analysis purely based on the outcome of a smart contracts behaviour, it does not rely on looking at the code itself.

By using the charts and tables in the transaction flow visualisation it is now easy to trace which contracts operate together in networks to provide functionalities such as NFT minting & NFT trading.

Some interesting contracts to take a look at:

- [Plenty swap router](https://thestackreport.xyz/dashboards/tezos/contracts/KT1MEVCrGRCsoERXf6ahNLC4ik6J2vRH7Mm6)
- [Objkt.com marketplace](https://thestackreport.xyz/dashboards/tezos/contracts/KT1WvzYHCNBvDSdwafTHv7nJ1dWmZ8GCYuuC)
- [Tezotopia NFT registry](https://thestackreport.xyz/dashboards/tezos/contracts/KT1ViVwoVfGSCsDaxjwoovejm1aYSGz7s2TZ)


This is only the beginning of investigating Tezos transactions and smart contracts as a network. There is much more to come!

Transaction flow | New dashboard charts

New charts have been added to Tezos smart contract dashboards on The Stack Report, including a visualisation of transaction flow between contract callers and targets.

Transactions are where the action is at, on the Tezos blockchain. Smart contract blockchains allow for complex transactions between human-controlled wallets and smart contract code, enabling an emergent network of user-generated connections between people and digital entities. Or that is the idea at least, how complex are these transactions actually on the live chain and how much is just swapping xtz between wallets? In this article we take a rough first attempt at measuring transaction complexity by looking at transaction group size. 

Let's take a look at the charts first before we dig into the underlying technicalities of these metrics. The first chart below shows the total number of transactions and transaction groups per day. The chart after that shows the ratio between those two. 



---

<div>
<chart>
transactions-and-transaction-groups
</chart>
</div>

---

<div>
<chart>
transactions-to-groups-ratio
</chart>
</div>

There is a clear evolution with distinct phases over time, from the launch of the chain to today. In the initial weeks and months of the chain the ratio of transactions to transaction groups was pretty much 1 to 1. Then there is a period where the ratio of transactions to transaction groups starts to fluctuate at a regular ~3 day interval.

(By using the timeline brush below the chart you can zoom in to inspect the day-by-day values)

In the valleys, the ratio drops to almost 1, whereas in the peaks the ratio goes up to around ~5 transactions per transaction group, or for some days even above 10 transactions to every transaction group for example on 12 November 2020. Over the past year the daily ratio has started to stabilize at around an average of ~4 transactions per transaction group per day.

So what does this mean?

For that we need to go into the details of what transactions are, and how they can be grouped together in on-chain operations. 

---

#### Operations, Transactions & Transaction groups

The most basic transaction on the Tezos chain is a simple transfer of *xtz* from one wallet to another. More complex transactions are mints of NFTs, trades of tokens, votes in DAOs and so forth. These transactions are enabled by smart contract code, which lets users trigger *a number of transactions* in a *transaction group* together, to achieve multiple ledger changes at once. These complex transactions are where a *smart contract blockchain* really differentiates itself from the original bitcoin blockchain.

Now let's get a little bit formal with definitions on the data structures for analysis.

**Operations**

*Blocks* on the Tezos blockchain store *operations*.

**Transactions**

A *transaction* is a type of *operation* on the Tezos blockchain.

A *transaction operation* is *initiated* by a wallet account.

A transaction operation can target another wallet account for a basic transfer of xtz or a smart contract account for a more complex transaction operation.

**Wallet account**

A *wallet account* is one controlled by an end-user through a public/private key pair. On Tezos the addresses for these accounts start with *tz*.

**Smart contract account**

A *smart contract account* is an account that is "originated" onto the blockchain itself and can contain code. Through the smart contract code, a smart contract can have various public *endpoints* which can be called by *wallet accounts* as well as other *smart contract accounts* to execute the smart contract code.

**Transaction groups**

A *transaction* is a ‘type’ of *operation*, at the same time a *transaction operation* can actually contain multiple transactions. This can happen in multiple ways. Operations are injected to the blockchain by first constructing the JSON description of the transaction, then signing it and sending it to one of the RPC endpoints of a node in the Tezos network. In constructing the JSON description you are already able to include a list of transactions.

When a transaction targets a smart contract it can *call* one of the contract *endpoints*. This then executes the code within the smart contract. The code in the smart contract can trigger other transactions which become part of the same transaction operation. 

For example a simplified nft swap transaction can be a transaction to transfer the xtz and a transaction to transfer the token. (In reality nft swaps are more complex already, with locking & unlocking of funds etc)

The point for now is, a*transaction operation* can actually contain multiple transactions. These transactions can be arbitrarily combined by end users at the injection phase as well as by smart contract code creating multiple transactions or secondary smart contract calls.

So is the basic ratio between transactions and transaction groups actually saying something about transaction complexity?

Unfortunately not actually. In the 2020 phase of the Tezos blockchain the transaction to transaction group ratio fluctuates widely. What kind of transaction groups are actually causing this fluctuation?

#### Staking reward payouts

By zooming in to that previously mentioned date of 12 November, 2020 we can find a number of transaction groups that are very large in size.

This is for example a transaction operation group that includes one hundred staking rewards payouts:
[https://tzkt.io/oo7fqhTAicPvTgN8muKV16RRK8GbkS3RLwqEMwTbb8pRHXQSgpQ](https://tzkt.io/oo7fqhTAicPvTgN8muKV16RRK8GbkS3RLwqEMwTbb8pRHXQSgpQ)

The team behind StakingFacilities most likely has some scripts that inject transactions directly to an RPC endpoint to combine these payouts into one operation. Staking reward payouts happen at a regular ~3-day interval which matches up with the fluctuations.

This approach to injecting transactions is not something that the average user, manually interacting with dApps through a web interface will likely do. (Although it is possible for dApp developers to program features that make use of the possibility to inject multiple transactions in one transaction operation). 

---

Can we get a closer measure of transaction complexity coming from smart contract calls by filtering out transaction groups that are grouped user-side? From the pure blockchain data it is not immediately apparent why transactions were grouped. But the staking reward payout transaction group above does give a hint towards how to at least further narrow it down. The transaction group does not include any contract call. 

What would the ratio look like if we only look at transaction groups that include smart contract calls?

<div>
<chart>
smart-contract-transactions-to-groups-ratio
</chart>
</div>


In the above chart the black line shows the ratio of transactions to transaction groups, solely for transaction groups that include contract call transactions. 

This ratio filters out the large fluctuations coming from grouped staking reward payout transactions. It is still possible that these transaction groups include manually combined transactions but the ratio does seem to be more consistent.

---

#### Analysis

What are some takeaways from these transactions to transaction group ratios?

When the ratio is close to one it most likely means that most chain activity is basic transfer of xtz between wallets or very basic contract calls.

The adoption of NFTs on Tezos in 2021 is most likely the cause for transaction group size to rise because of more complex operations such as minting & trading of NFTs.

Transactions shouldn't be needlessly complex just for the sake of it. From that perspective this ratio shouldn't be a metric to steer on.

At the same time grouping transactions into one transaction group operation has efficiency advantages... See the conclusion for what this might mean for the future of Tezos.

---

#### Future work

In this analysis a rough & relatively in-accurate approach was taken to look at which transactions are connected to each other. A future analysis into transaction groups might look further into the smart contract code itself. Through analysis of the smart contract code it might be possible to further trace which transactions triggered other transactions through smart contracts and which transactions were "manually" grouped together at injection by scripts & users.

The transaction complexity metric using transactions to transaction groups ratio will be added in the near future to the Tezos contracts dashboards to evaluate transaction complexity per contract:

[https://thestackreport.xyz/dashboards/tezos](https://thestackreport.xyz/dashboards/tezos)

---

#### Conclusion

The current structure in which transactions are added to the Tezos blockchain is still relatively simple. It will get more complex in the near future. 

This current approach to storing every transaction in the chain is the main bottleneck for transaction throughput on the chain. The tezos development teams are preparing for future upgrades to the chain to include something called *rollups*. In a *rollup* architecture, multiple transactions and state changes are processed together off-chain on what is called a *layer 2*, with intermittent hashed receipts of that process being added to the main chain. 

For further reading on the Tezos scaling proposals in development, continue here:

[https://research-development.nomadic-labs.com/tezos-is-scaling.html](https://research-development.nomadic-labs.com/tezos-is-scaling.html)


For a detailed explanation of Tezos operations, transactions and accounts, see:

[https://opentezos.com/tezos-basics/operations](https://opentezos.com/tezos-basics/operations)

The transactions to transaction groups ratio - Tezos chain analysis

The transactions to transaction groups ratio

![Dashboard on the stack report](https://the-stack-report.ams3.cdn.digitaloceanspaces.com/articles_assets/hen-dashboard-preview-min.png)

*May 3, 2022* | Today, The Stack Report launches *dashboards*, online pages that display regularly updated datasets coming from the Tezos blockchain network. 

Use these dashboards to keep track of the latest activity on the Tezos blockchain, monitor the activity on the smart contracts powering your DApp or investigate the history of experiments & platforms deployed on the Tezos chain. 

At launch we have an initial set of dashboards available focussed on Tezos Smart Contracts. For each contract on the Tezos blockchain there is a unique page which can be searched [here](https://thestackreport.xyz/dashboards/tezos).

In this announcement we go into what these dashboards deliver to builders and users within the Tezos ecosystem, how to use them, and share some graphs that already showcase what makes the Tezos community unique.  

---

## Smart contract analytics

As The Stack Report, we want to discover, capture and tell the stories of the builders in the Tezos ecosystem. The Tezos blockchain is an open-ended platform for people to ‘permissionlessly’ add functionality & applications on top of by publishing smart contracts. Because of its permissionless nature, it is a constantly evolving ecosystem with new systems and experiments being deployed all the time onto the chain. As storytellers we want to continuously be on top of: What DApps are being used the most right now? Which functionalities are receiving traction from users? What were the key moments in an apps growth (or decline)?

To answer those questions we see the blockchain data itself as one of the core sources of truth for what is being built and used by the Tezos community. Two core datasets embedded in the block data is smart contracts and smart contract calls. The smart contracts enable users to perform more complex transactions on the blockchain by calling its endpoints. 

We have built a data pipeline that aggregates smart contract usage statistics and makes it available for visualization and analytics. This is useful for us, to get a historic perspective on what happened “on the chain”. At the same time these dashboards can be useful for builders and users as well, which is why these are now publicly available & [searchable]((https://thestackreport.xyz/dashboards/tezos)) for everyone.

Read on to learn more about what is available on the dashboards right now.


---

## Measuring on-chain web3 engagement

Before getting into the details, a brief introduction on how to interpret on-chain contract data.

A blockchain provides a distributed compute/storage layer for a variety of applications to be built on top. Translating to ‘web2’ language, by publishing a smart contract onto the blockchain you are introducing a database table, one or multiple API endpoints, possibly supported by some code logic, that can be called by users of that blockchain. 


```
| web2                  | web3                             |
|-----------------------|----------------------------------|
| Database table        | contract storage (map or bigmap) |
| Public API            | contract entry points            |
| Serverless deployment | contract origination             |
```
<br />

A smart contract neatly packages all these things together. All paid for directly through gas & baker fees, charged to the people using the contract. From the on-chain block data, we can directly trace how many transactions are calling these contract endpoints. Sometimes this directly relates to user actions in interfaces, in other cases a contract call is being executed by an automated script or application. 

Depending on the type of contract, you’ll have to read the data differently. But put abstractly, what you’ll be able to get by looking at the calls to contract endpoints, are pulse checks on every core on-chain data flow for the distributed Apps being built on top of the Tezos blockchain. Another analogy would be to think of this as the _google analytics_ of a smart contract. 


For some contracts this means being able to see how many NFTs were minted per day. Other contracts might give a view on how many new users signed up or which DEX routes are currently popular. In most cases you will need to have a bit of contextual knowledge to fully be able to read that data. On the contract dashboards themselves this kind of contextual information can already come from the contract alias or the naming of endpoints, which usually are pretty well labeled by developers. For further context of course follow The Stack Report to get more in depth analysis!

--- 

## Q&A

**Where to find the dashboards?**

To search through available dashboards for contracts go to:
[https://thestackreport.xyz/dashboards/tezos](https://thestackreport.xyz/dashboards/tezos)

Search through contracts by alias or contract address on thestackreport.xyz/dashboards/tezos 

**What do the dashboards currently show?**

At launch the dashboards display one core chart for each contract, which is the historic nr of contract calls per day, split by entrypoint. Think of this as the “google analytics” of a smart contract. This chart shows you:

- When a contract was popular*
- If usage is trending upward or downward
- Which features of the contract are used most

*in the case that this is a contract that people are supposed to actively interact with. Other types of contracts such as oracle possibly only receive predetermined calls.


## Dashboard features

These dashboards & charts were designed with usability & accessibility in mind.

### Fully responsive from mobile to xl screens

![Responsive chart demo](https://the-stack-report.ams3.cdn.digitaloceanspaces.com/articles_assets/responsive-demo-min.png)

---

### Tooltip to inspect details per day

<div style="border: 1px solid rgb(220,220,220); padding:10px;margin-bottom:10px;">
<video width="100%"
autoplay
muted
loop
>
<source type="video/mp4" src="https://the-stack-report.ams3.cdn.digitaloceanspaces.com/articles_assets/tooltip-loop.mp4" />
</video>
</div>

Mouse hover shows details per day, tooltip works on touch as well.

---

### Zoom on specific date range

<div style="border: 1px solid rgb(220,220,220); padding:10px;margin-bottom:10px;">
<video width="100%"
autoplay
muted
loop
>
<source type="video/mp4" src="https://the-stack-report.ams3.cdn.digitaloceanspaces.com/articles_assets/date-range-zoom.mp4" />
</video>
</div>

Falls back to a multi-handle slider control for zooming on mobile devices.

---

## Dashboard highlights

To get started here are some interesting contract dashboards to check out to get a sense of the Tezos ecosystem.

<br />

[Hicetnunc NFTs](https://thestackreport.xyz/dashboards/tezos/contracts/KT1RJ6PbjHpwc3M5rw5s2Nbmefwbuwbdxton)

<br />


Still by far the most used tezos contract, even though hicetnunc.xyz the website has been discontinued (again), this contract remains in use because of the many clones & community fork still relying on this minting contract to create the initial NFTs.

---

<br />


[Kaiko Price Oracle](https://thestackreport.xyz/dashboards/tezos/contracts/KT19kgnqC5VWoxktLRdRUERbyUPku9YioE8W)

<br />

Called every minute to track off-chain exchange rates between xtz/usd, xtz/chf & usd/chf pairs inside of the contract storage. 

---

<br />


[Teia Community Marketplace](https://thestackreport.xyz/dashboards/tezos/contracts/KT1PHubm9HtyQEJ4BBpMTVomq6mhbfNZ9z5w)

<br />

Contract created by the [https://teia.art/](https://teia.art) community to replace the HEN contract for swapping objkts. 

---

<br />

[Ctez related dashboards](https://thestackreport.xyz/dashboards/tezos?search_term=ctez)

<br />

Contracts to exchange swap and use ctez instead of xtz, so that your xtz can still be used for baking & governance.

---

This is the initial launch of The Stack Report dashboards. As more datasets and data pipelines are created new charts, visualizations and dashboards will become available.

The currently available dashboards can be searched at:

[thestackreport.xyz/dashboards/tezos](https://thestackreport.xyz/dashboards/tezos)

Dashboards is a newly announced feature, if you have any ideas, suggestions or questions, do reach out to us through any of our digital channels!

And of course, also follow [@thestackreport](https://twitter.com/thestackreport) on [twitter](https://twitter.com/thestackreport) for more in depth analysis, visualizations and announcements. 

Announcing Tezos Smart Contract dashboards

The Stack Report now has dashboards for Tezos Smart Contracts, showing historic contract call data.

Baking blocks is one of the core activities for stakeholders to do in blockchain systems. In this weekly we take a look at a couple of historic charts on Tezos baking. But before getting into the charts, a very short recap of baking on Tezos:

## Proof-of-stake baking
For the Tezos blockchain this happens through the energy-efficient [liquid proof-of-stake](https://opentezos.com/tezos-basics/liquid-proof-of-stake) mechanism. 
People can [run a node](https://opentezos.com/deploy-a-node) and “stake” the xtz token to “bake” blocks, which are then added to the chain. These people or organisations controlling nodes to do the baking, have to set up a public baking address that holds the xtz, or to which xtz can be delegated. Based on the amount of xtz staked the node will be assigned a certain number of blocks to validate, “produce” and “bake” into the blockchain. In the metadata of each block the “producer” address can be found back.

Staking enables block production, which brings rewards. The people or parties controlling the staking wallets are also able to vote on proposal upgrades through the on-chain governance process of Tezos. 

In the first two charts we’ll take a look at some absolute numbers. Tezos initially had a block production rate of 1/min per block, which was sped up in 2021 to 30/sec per block. This results in about ~40k blocks to be produced by bakers per month initially and this doubled to around ~80k blocks per month now.

For the charts below, the [tzkt API](https://api.tzkt.io/#operation/Accounts_GetMetadata) was relied upon to get the organization names involved for block producer addresses. 

### Blocks produced per month by top Tezos bakers

This first chart shows the number of blocks baked by the top bakers per month. 

<div>
<data_block>
custom%2Fcustom_3%2F000_Top_15_baker_addressesBy_blocks_produced_per_baker
</data_block>
</div>

The **_'x'_** marks in the chart show the total number of blocks baked per month. The lines display the number of blocks produced by each baker per month. As can be seen in this first chart, the Tezos foundation operates a bunch of bakers in parallel. This set of baker nodes initially got the mainnet network started. 

---

### Blocks produced per month with foundation nodes grouped

In the below chart, the baking activity of these foundation nodes is grouped together. This gives a better sense of the size difference between different stakeholders involved in the baking process over time

<div>
<data_block>
custom%2Fcustom_3%2F001_Top_10_bakers_foundation_bakers_groupedBlocks_produced_per_baker
</data_block>
</div>

Next to the foundation, the other largest bakers (by blocks baked count) are parties such as Coinbase and Binance. These are places for people to easily buy into blockchain ecosystems without the added burden of maintaining your own wallet. This does mean however that the tokens purchased on such platforms will remain in the wallet(s) maintained by those platforms. 

---

### Distribution of block production between top Tezos bakers

In the final chart we take a look at the distribution of blocks produced by different bakers.

<div>
<data_block>
custom%2Fcustom_3%2F002_Top_100_bakers_foundation_bakers_groupedof_blocks_produced_per_baker
</data_block>
</div>

Three distinct phases become visible in the history of baking. In roughly the first year there was an adoption phase of bakers joining the network. These first adopters took over a large part of the baking activity initially done by the foundation bakers. Then from 2020 onward, wallets maintained by exchanges to hold tokens started to grow their share of the block production supply. 
Mid-2021 a shift in the distribution happened with the foundation bakers transferring part of their xtz holdings to another holding solution [(ref)](https://twitter.com/TezosFoundation/status/1409810046654062593?s=20&t=MjCEHVDWunz7xyZbMs7KFg). 

In the most recent months the exchanges have grown their share of xtz staked slightly, while at the same time, new bakers have appeared. In these charts we have taken a look at bakers by measuring their output (i.e. numbers of blocks produced per baker). 

In future work we’ll dig deeper into the baking network, so if you have any questions that you'd like to see investigated, do to reach out to [@thestackreport](https://twitter.com/thestackreport).

That’s it for this weekly article, thanks for reading!

As always, feel free to download the charts as still image or video for your own use or sharing pleasure. A tag of  [@thestackreport](https://twitter.com/thestackreport) would be much appreciated. 

Top Tezos block producers

Top Tezos block producers over time by nr of blocks produced and percentage of blocks produced - TSR Weekly | 16.22

This week the Tezos blockchain has successfully transitioned to the Ithaca proposal! To celebrate we focus on just one visual in this weekly article, zooming in on the moment of truth:

<div>
<data_block>
custom%2F2022-04-02%2Ftezos-protocol-switch
</data_block>
</div>

At block level 2244609 the Tezos mainnet blockchain started to use the Ithaca protocol.

(Full hash: Psithaca2MLRFYargivpo7YvUr7wUDqyxrdhC5CQq78mRvimz6A)

From the last block of the previous protocol, it took about an hour with a couple of delayed blocks for the network to fully transition over. But after that brief period, block production returned to its regular 30-second interval. With even more consistency* because of the upgrade.

*The Ithaca protocol upgrades the consensus algorithm, bringing fast deterministic finality.

Read on here about what’s new with the Ithaca upgrade: [https://forum.tezosagora.org/t/ithaca-2-psithaca2/4206](https://forum.tezosagora.org/t/ithaca-2-psithaca2/4206)

For those unfamiliar with how Tezos can upgrade itself, read on for a short summary.

## What is a Tezos upgrade?

The Tezos blockchain has a unique capability in that it can upgrade itself through an on-chain democratic governance process. In a cyclical process, network participants can propose upgrades or changes to the core protocol. These proposals are then put up for a vote to the rest of the people with a stake in the network in two rounds of voting.

In the first round of voting the choice is between different proposals. Out of this round of voting one proposal emerges as a winner but will not be adopted just yet. First, the community gets a period of time to further investigate and test the proposal before the second round of voting.

In the second round, people can either vote for or against adopting the winning proposal of round one. If enough of a majority is reached the proposal is then selected for adoption. The community then gets a period of time to get all the necessary software upgrades in place to prepare for the new protocol.

For more details read on at the [Nomadic Labs knowledge center](https://docs.nomadic-labs.com/nomadic-labs-knowledge-center/amendment-process).


The Ithaca transition in one visual

Block times at the moment of the transition to the Ithaca protocol

What is a user on the web? For years the saying was that you could pretend to be anything on the internet, a cat, dog or anything you’d like to be. You can take on any, and as many identities as you want online. Blockchains and PFP NFTs have clearly revived that idea in new forms.

People interact with blockchains through wallets, sometimes publicly to establish a public identity through for example your NFT collection, but in other cases anonymously as well. It is relatively easy to operate multiple wallets at once. Wallets are used as an identity system but not necessarily constrained to 1 wallet per human being.

In software one of the core metrics to measure against is number of users. You’ll hear business people talking about their DAU KPI or their MAU, or even the DAU/MAU ratio. Which indicates how much time people dedicate to your website or app in the week or month. (DAU = Daily Active Users, MAU = Monthly Active Users).

In Web3 there are of course users as well. People use wallets, people use apps. At the same time the on-chain user identity is more fluid. So in this *TSR Weekly* we introduce a couple of new blockchain-native metrics that say something about engagement and their accompanying abbreviations:


### WAW (Weekly Active Wallets)

<div>
<data_block>
weekly%2Fweekly_2022_11__14-3-2022%2F000_Tezos_chain_statsWeekly_Active_Wallets
</data_block>
</div>

Tezos averages about 40.000 wallets actively initiating transactions on the blockchain. 

---

### DAW (Daily Active Wallets)

<div>
<data_block>
weekly%2Fweekly_2022_11__14-3-2022%2F010_Tezos_chain_statsDaily_Active_Wallets
</data_block>
</div>

On a daily basis this comes in at about 10 to 15 thousand wallets being active. 

---


On the app side we can also track how many different (smart) contracts are being called by wallets.

### WCC (Weekly Called Contracts)

<div>
<data_block>
weekly%2Fweekly_2022_11__14-3-2022%2F006_Tezos_chain_statsWeekly_Called_Contracts
</data_block>
</div>


The above chart shows the number of unique addresses starting with KT being targeted in blockchain operations per week. The next chart shows 

### DCC (Daily Called Contracts)

<div>
<data_block>
weekly%2Fweekly_2022_11__14-3-2022%2F011_Tezos_chain_statsDaily_Called_Contracts
</data_block>
</div>

In the case of Tezos this requires a bit more explanation and differentiation. The Weekly Called Contracts chart going back to the start of the chain seems to indicate there has been a lot of activity since early 2019 already. 

### Weekly called contracts by type

The below graph shows actively used contract counts per kind of contract:

<div>
<data_block>
weekly%2Fweekly_2022_11__14-3-2022%2F009_Tezos_chain_statsContracts_called_on_Tezos_by_kind
</data_block>
</div>

In this chart the ‘kind’ of contract comes from the tzkt.io kind classification:

- Asset
- Smart contract
- Delegator contract

Asset smart contracts are identified by tzkt.io to be fitting a tzip asset standard (FA1, FA1.2, FA2 etc). 
Info about asset contracts: [https://baking-bad.org/blog/2021/03/03/tzkt-v14-released-with-improved-smart-contract-data-and-websocket-api/](https://baking-bad.org/blog/2021/03/03/tzkt-v14-released-with-improved-smart-contract-data-and-websocket-api/)

Delegator contracts are a specific type of contract originally used as accounts for baking. Contracts on the Tezos blockchain can be identified by the address used in operations starting with “KT”. But not all of these contracts are fully “smart”. In the earlier phase of the tezos network a special basic kind of contract was used called a delegator contract. You could create such accounts in the early days of pre-Babylon amendment because initially these addresses were the only method through which you could stake xtz:
[https://crypto.bi/tz-kt/](https://crypto.bi/tz-kt/)

There are still a couple of thousand of such contracts actively staking some amount of xtz, so they still show up in the statistics. 

### Daily called contracts by type

By looking at the daily activity of these contracts you can also see the cycle rhythm of Tezos which determines the payouts towards stakers:

<div>
<data_block>
weekly%2Fweekly_2022_11__14-3-2022%2F012_Tezos_chain_statsDaily_Called_Contracts_by_type
</data_block>
</div>

Why do we actually want to look at the Weekly Called Contracts (WCC) or  Daily Called Contracts (DCC) metrics? Even though the measurement is noisy it gives a sense of the ecosystem size on the side of applications people are using. Similar to wallets not matching one-on-one to users, a contract does not match one-on-one with an app. Often when interacting with an *app*, you are calling a number of contracts that work together to provide the full set of functionalities. For example with an NFT platform, there are one or multiple minting contracts, individual collection contracts, marketplace contracts, potentially split by auction type. For DeFi similarly an app can consist of a large number of contracts for various tokens and pools.

With this noted lets close with a chart that shows the unique nr of asset/smart contracts called each week. Or in blockchain-native abbreviated form: WCSC (Weekly Called Smart Contracts)

<div>
<data_block>
weekly%2Fweekly_2022_11__14-3-2022%2F007_Tezos_chain_statsWeekly_Called_Smart_Contracts
</data_block>
</div>

Feel free to download and share these charts yourself and be sure to tag [@thestackreport](https://twitter.com/thestackreport)!


Blockchain-native abbreviations

Who needs more abbreviations? Introducing blockchain-native engagement metrics! 

Feb 1, 2022. Today is launch date for The Stack Report! The website is live as you are reading this right now. Later this day the first Weekly Recap will be shared. Read on to learn what The Stack Report is, what to expect going forward and how you can engage right now.

## What is The Stack Report?

The Stack Report is a publication covering stories in the Tezos ecosystem through blockchain data visualisations. Decentralised open source platforms such as Tezos provide a new tech stack for society to organise itself socially and financially. The next generation of builders and creators are building projects and systems with new ideas around collaboration, ownership and how communities can come together. This is all happening digitally, open source, and “on chain”, meaning we can all observe their stories as they play out.

The Stack Report transforms the data streams coming from this stack of digital, social and physical layers of this new decentralised world into data-driven weekly recaps, monthly deep dives and long-form stories into specific themes and topics. The focus of the Stack Report is on the self-amending, energy-efficient Tezos blockchain, leveraging both existing and custom-developed blockchain data analysis tooling.

## Charts & Visualisations

The vision for The Stack Report is to cover the defining stories at every layer of this new tech stack for the internet. Using data visualization to get to the truth behind the hype. To both cover and discover those stories we’ve set up a system to convert data streams coming from multiple layers of the tech stack into searchable collections of charts, fully ready to be used in articles and shareable across the internet. These visualisations make up the building blocks for the articles by The Stack Report.

You will come across these charts and visualisations in the various articles coming soon. Alternatively you can already start to dig deeper by going to the [thestackreport.xyz/data_blocks](https://thestackreport.xyz/data_blocks) page, where you can also search through the visualisations yourself. At time of writing there are already 100+ charts rendered and available on general Tezos ecosystem activity and the top contracts receiving most engagement on the blockchain. 

The custom data pipeline and animation production has been set up to pre-render these data visualizations at scale in share-ready file formats. The charts in video format (mp4) contain smooth animations to grab the attention in social feeds. While the static picture format can easily be used in other documentation & reporting. Because these are pre-rendered they will only show data up until about the time they were created and uploaded. New visuals in the various collections will be produced at regular intervals for weekly and monthly reporting. 

 To give a preview of what these look like, this is for example the chart visualising [Objkt.com](https://objkt.com) marketplace activity:

<div>
<data_block>top-contracts-4x3-full-time/2022-01-31/011_Daily_calls_by_entrypoint_to:_objkt.com_Marketplace</data_block>
</div>


You can interact with the visual by tapping on it (on mobile) or hovering with the mouse cursor. This will show extra information and controls for downloading the visual as still frame (png) or video (mp4) ready to be used and shared. Each visual has its own web page on The Stack Report as well which can directly be linked to. That leads us to what you can do next.

## How to contribute

The visualisations created by The Stack Report are meant to be downloaded, copied & shared so that we as a community can learn and grow together. So if you see something interesting in the data, when you have a unique opinion, perspective or insight to provide, then please do use any of the visuals you can find on [thestackreport.xyz](https://thestackreport.xyz) to share those learnings with the rest of the community!

To keep track of the most recent stories covered by The Stack Report ourselves, be sure to follow the TSR accounts on the various socials:


- [Twitter](https://twitter.com/thestackreport)

- [Instagram](https://www.instagram.com/stackreport/)

- [LinkedIn](https://www.linkedin.com/company/the-stack-report/)



The Stack Report - Launched!

Announcement for the launch of the stack report.

Blockchain technology has the potential to become a new decentralised infrastructure layer for people to collaborate, communicate, exchange value and ideas. A new generation of builders from a diverse set of backgrounds is embedding new, challenging ideas into this next tech stack for society. Their stories are developing as we speak — and because this is happening digitally, open source, and “on chain”, we can all observe their stories as they happen.

The Stack Report will transform the data streams coming from this stack of digital, social and physical layers of this new decentralised world into data-driven weekly and monthly reporting and long-form deep dives into specific topics. Our focus will be on the self-amending, energy-efficient Tezos blockchain. The project will leverage existing and custom-developed blockchain data analysis tooling. Bringing together a small team of specialists in data science, visualisation & storytelling to capture the unique stories developing on the Tezos chain.

--- 

**Who founded The Stack Report?**

The Stack Report is initiated by Erwin Hoogerwoord.


>This initiative is an evolution of previous reporting I have been doing on NFT activity, creating weekly visual recaps of the Tezos-based HicEtNunc NFT platform using on-chain operations data. NFTs are one layer in this new decentralised stack of technologies. With The Stack Report I want to bring this kind of data-driven reporting to the rest of the Tezos tech stack, which is just as interesting.

--- 

**Why is this kind of reporting relevant?**

The core proposition of blockchains is that it can enable transactions between people and entities without relying on trust. The “trust-less” model of crypto aims to remove the trust-based relationship people have with their direct institutions and banks. Instead, this is replaced with a combination of cryptographic proof and transparency into the data and systems. Enabling potentially every participant to validate a publicly agreed-upon chain of transactions. This brings the expectation that enough participants in this kind of system will be able to build a deep enough understanding of the multiple layers of this tech stack to eliminate the much simpler trust relationship. The intention of The Stack Report is to provide an on-ramp for people to build that understanding.

--- 

**What to expect?**

Early 2022, The Stack Report will start to produce weekly and monthly visual data-driven summaries on multiple facets of the Tezos tech stack. Covering aspects such as on-chain contract calls, network growth and code / protocol evolution. Next to that we will be doing research to create long-form stories delving into specific aspects of blockchain technology and applications.

These stories will be shared across multiple channels. To not miss out, be sure to follow _The Stack Report_ across any or all of these platforms:

- [@thestackreport (Twitter)](https://twitter.com/thestackreport)
- [@thestackreport (Instagram)](https://www.instagram.com/stackreport/)
- [@the-stack-report (LinkedIn)](https://www.linkedin.com/company/the-stack-report)

An example of previous reporting done on HicEtNunc NFT activity:

[https://twitter.com/hoogerwoord/status/1429914919403720709?s=20](https://twitter.com/hoogerwoord/status/1429914919403720709?s=20)


---

For more information, or if you wish to get involved, reach out to:

erwin @ dialectic.design

---

<div>
<button href="https://dialectic.design/storage/app/media/The%20Stack%20Report/the-stack-report-announcement-press-release-december-6-2021.pdf"
                    download="Announcing The Stack Report - press release"
                    target="_blank" class="chakra-button">
Download announcement as PDF
</button>
</div>

---

Watch and share the video teaser:

<div style="padding: 75% 0 0 0; position:relative; height: 85%;">
<iframe
src="https://player.vimeo.com/video/653497706?h=3935981d26&amp;badge=0&amp;autopause=0&amp;player_id=0&amp;app_id=58479"
frame-border="0"
allow="autoplay; fullscreen; picture-in-picture"
allow-full-screen={true}
style="position: absolute; top: 0;  left: 0; width: 100%; height: 100%;"
      title="The Stack Report - Announcement teaser">
</iframe>
</div>


Announcing The Stack Report

The Stack Report, covering stories in the Tezos ecosystem through blockchain data visualisations.

# Weekly Tezos usage trend report

This is the Weekly Tezos blockchain trend report, by The Stack Report. We cover the risers and fallers for the core tezos chain usage metrics such as transactions,  active wallets and contract usage.
On a weekly basis this report compares week-over-week daily averages. Charts are interactive and can be zoomed out to get a full chain view from launch up till now.

Calculations in text based on data up to Sunday May 21, 2023, comparing the week from Monday May 15, 2023 to Sunday May 21, 2023 and the week before, from Monday May 08, 2023 to Sunday May 14, 2023.


#### Transactions

Last week, *transactions* were on average **158,659** per day. As compared to a daily average of **158,271** the week before.

The daily average of *transactions*, is up **0%** *(387.71)*, week over week.



<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-transactions
</chart>
</div>

---



#### Transactions by wallets

Last week, *transactions by wallets* were on average **109,735** per day. As compared to a daily average of **88,670** the week before.

The daily average of *transactions by wallets*, is up **24%** *(21,065.71)*, week over week.



<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-wallet-sender-transactions
</chart>
</div>

---



#### Transactions by contracts

Last week, *transactions by contracts* were on average **48,924** per day. As compared to a daily average of **69,602** the week before.

The daily average of *transactions by contracts*, is down **-30%** *(-20,678)*, week over week.


<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-contract-sender-transactions
</chart>
</div>

---



#### Transactions targeting wallets

Last week, *transactions targeting wallets* were on average **62,348** per day. As compared to a daily average of **58,999** the week before.

The daily average of *transactions targeting wallets*, is up **6%** *(3,348.43)*, week over week.



<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-wallet-targeted-transactions
</chart>
</div>

---



#### Transactions targeting contracts

Last week, *transactions targeting contracts* were on average **96,311** per day. As compared to a daily average of **99,270** the week before.

The daily average of *transactions targeting contracts*, is down **-3%** *(-2,959.14)*, week over week.


<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-contract-targeted-transactions
</chart>
</div>

---



#### Transactions from wallets to wallets

Last week, *transactions from wallets to wallets* were on average **47,057** per day. As compared to a daily average of **42,327** the week before.

The daily average of *transactions from wallets to wallets*, is up **11%** *(4,729.86)*, week over week.



<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-wallet-to-wallet-transactions
</chart>
</div>

---



#### Transactions from wallets to contracts

Last week, *transactions from wallets to contracts* were on average **62,679** per day. As compared to a daily average of **46,343** the week before.

The daily average of *transactions from wallets to contracts*, is up **35%** *(16,335.86)*, week over week.



<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-wallet-to-contract-transactions
</chart>
</div>

---



#### Transactions from contracts to contracts

Last week, *transactions from contracts to contracts* were on average **33,632** per day. As compared to a daily average of **52,927** the week before.

The daily average of *transactions from contracts to contracts*, is down **-36%** *(-19,295)*, week over week.


<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-contract-to-contract-transactions
</chart>
</div>

---



#### Transactions from contracts to wallets

Last week, *transactions from contracts to wallets* were on average **15,291** per day. As compared to a daily average of **16,673** the week before.

The daily average of *transactions from contracts to wallets*, is down **-8%** *(-1,381.43)*, week over week.


<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-contract-to-wallet-transactions
</chart>
</div>

---



#### Nr of transaction groups

Last week, *nr of transaction groups* were on average **31,209** per day. As compared to a daily average of **32,080** the week before.

The daily average of *nr of transaction groups*, is down **-3%** *(-870.29)*, week over week.


<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-transaction-groups
</chart>
</div>

---



#### Wallets sending transactions

Last week, *wallets sending transactions* were on average **4,758** per day. As compared to a daily average of **5,185** the week before.

The daily average of *wallets sending transactions*, is down **-8%** *(-427)*, week over week.


<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-wallets-sending-transactions
</chart>
</div>

---



#### Wallets calling contracts

Last week, *wallets calling contracts* were on average **3,778** per day. As compared to a daily average of **3,771** the week before.

The daily average of *wallets calling contracts*, is up **0%** *(7.43)*, week over week.



<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-wallets-calling-contracts
</chart>
</div>

---



#### Contracts sending transactions

Last week, *contracts sending transactions* were on average **892** per day. As compared to a daily average of **958** the week before.

The daily average of *contracts sending transactions*, is down **-7%** *(-66.43)*, week over week.


<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-contracts-sending-transactions
</chart>
</div>

---



#### Wallets involved in transactions

Last week, *wallets involved in transactions* were on average **48,443** per day. As compared to a daily average of **42,631** the week before.

The daily average of *wallets involved in transactions*, is up **14%** *(5,811.43)*, week over week.



<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-wallets-involved-in-transactions
</chart>
</div>

---



#### Transactions calling a smart contract entrypoint

Last week, *transactions calling a smart contract entrypoint* were on average **93,615** per day. As compared to a daily average of **95,350** the week before.

The daily average of *transactions calling a smart contract entrypoint*, is down **-2%** *(-1,735.43)*, week over week.


<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-entrypoint-call-transactions
</chart>
</div>

---



#### Transactions part of a transaction group that includes an entrypoint call

Last week, *transactions part of a transaction group that includes an entrypoint call* were on average **111,827** per day. As compared to a daily average of **116,385** the week before.

The daily average of *transactions part of a transaction group that includes an entrypoint call*, is down **-4%** *(-4,557.57)*, week over week.


<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-transactions-in-groups-with-entrypoint-calls
</chart>
</div>

---



#### Transaction groups with an entrypoint call

Last week, *transaction groups with an entrypoint call* were on average **28,386** per day. As compared to a daily average of **28,265** the week before.

The daily average of *transaction groups with an entrypoint call*, is up **0%** *(121.14)*, week over week.



<div>
<chart
 start_date="2023-04-20"
 end_date="2023-05-21"
 overlay="weekly_trend"
 >
tezos-chain-transaction-groups-with-entrypoint
</chart>
</div>

---



Tezos Weekly Trends Report - w20 | 2023

Complex contract activity down while overall activity flat

# Weekly Tezos usage trend report

All tracked engagement metrics in the green in this weekly trend report for the Tezos blockchain.

Two weekends of Formula 1 fan engagements by the McLaren F1 team through Tezos-based NFT collectibles led to close to 500k new transactions on their [McLaren F1 Collectibles smart contract](/dashboards/tezos/contracts/KT1BRADdqGk2eLmMqvyWzqVmPQ1RCBCbW5dY) for the 2023 season.

See the McLaren 2023 collectibles contract below, and after the regular weekly trends charts.

<div>
<ModelChart
model="contract"
_key="KT1BRADdqGk2eLmMqvyWzqVmPQ1RCBCbW5dY"
view="entrypoints-daily"
start_date="2023-03-01"
end_date="2023-05-10"
show_chart_notes="yes"
/>
</div>


---

This is the Weekly Tezos blockchain trend report, by The Stack Report. We cover the risers and fallers for the core tezos chain usage metrics such as transactions,  active wallets and contract usage.
On a weekly basis this report compares week-over-week daily averages. Charts are interactive and can be zoomed out to get a full chain view from launch up till now.

Calculations in text based on data up to Sunday May 07, 2023, comparing the week from Monday May 01, 2023 to Sunday May 07, 2023 and the week before, from Monday April 24, 2023 to Sunday April 30, 2023.


#### Transactions

Last week, *transactions* were on average **182,630** per day. As compared to a daily average of **163,514** the week before.

The daily average of *transactions*, is up **12%** *(19,116.43)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-transactions
</chart>
</div>

---



#### Transactions by wallets

Last week, *transactions by wallets* were on average **116,372** per day. As compared to a daily average of **107,757** the week before.

The daily average of *transactions by wallets*, is up **8%** *(8,615.71)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-wallet-sender-transactions
</chart>
</div>

---



#### Transactions by contracts

Last week, *transactions by contracts* were on average **66,258** per day. As compared to a daily average of **55,757** the week before.

The daily average of *transactions by contracts*, is up **19%** *(10,500.71)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-contract-sender-transactions
</chart>
</div>

---



#### Transactions targeting wallets

Last week, *transactions targeting wallets* were on average **59,491** per day. As compared to a daily average of **54,069** the week before.

The daily average of *transactions targeting wallets*, is up **10%** *(5,421.14)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-wallet-targeted-transactions
</chart>
</div>

---



#### Transactions targeting contracts

Last week, *transactions targeting contracts* were on average **123,140** per day. As compared to a daily average of **109,444** the week before.

The daily average of *transactions targeting contracts*, is up **13%** *(13,695.29)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-contract-targeted-transactions
</chart>
</div>

---



#### Transactions from wallets to wallets

Last week, *transactions from wallets to wallets* were on average **44,366** per day. As compared to a daily average of **39,801** the week before.

The daily average of *transactions from wallets to wallets*, is up **11%** *(4,565.14)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-wallet-to-wallet-transactions
</chart>
</div>

---



#### Transactions from wallets to contracts

Last week, *transactions from wallets to contracts* were on average **72,007** per day. As compared to a daily average of **67,956** the week before.

The daily average of *transactions from wallets to contracts*, is up **6%** *(4,050.57)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-wallet-to-contract-transactions
</chart>
</div>

---



#### Transactions from contracts to contracts

Last week, *transactions from contracts to contracts* were on average **51,133** per day. As compared to a daily average of **41,488** the week before.

The daily average of *transactions from contracts to contracts*, is up **23%** *(9,644.71)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-contract-to-contract-transactions
</chart>
</div>

---



#### Transactions from contracts to wallets

Last week, *transactions from contracts to wallets* were on average **15,125** per day. As compared to a daily average of **14,269** the week before.

The daily average of *transactions from contracts to wallets*, is up **6%** *(856)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-contract-to-wallet-transactions
</chart>
</div>

---



#### Nr of transaction groups

Last week, *nr of transaction groups* were on average **33,049** per day. As compared to a daily average of **30,503** the week before.

The daily average of *nr of transaction groups*, is up **8%** *(2,545.71)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-transaction-groups
</chart>
</div>

---



#### Wallets sending transactions

Last week, *wallets sending transactions* were on average **4,992** per day. As compared to a daily average of **4,606** the week before.

The daily average of *wallets sending transactions*, is up **8%** *(385.29)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-wallets-sending-transactions
</chart>
</div>

---



#### Wallets calling contracts

Last week, *wallets calling contracts* were on average **3,911** per day. As compared to a daily average of **3,570** the week before.

The daily average of *wallets calling contracts*, is up **10%** *(341)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-wallets-calling-contracts
</chart>
</div>

---



#### Contracts sending transactions

Last week, *contracts sending transactions* were on average **944** per day. As compared to a daily average of **886** the week before.

The daily average of *contracts sending transactions*, is up **7%** *(58.43)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-contracts-sending-transactions
</chart>
</div>

---



#### Wallets involved in transactions

Last week, *wallets involved in transactions* were on average **46,682** per day. As compared to a daily average of **39,793** the week before.

The daily average of *wallets involved in transactions*, is up **17%** *(6,888.86)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-wallets-involved-in-transactions
</chart>
</div>

---



#### Transactions calling a smart contract entrypoint

Last week, *transactions calling a smart contract entrypoint* were on average **119,220** per day. As compared to a daily average of **105,961** the week before.

The daily average of *transactions calling a smart contract entrypoint*, is up **13%** *(13,258.14)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-entrypoint-call-transactions
</chart>
</div>

---



#### Transactions part of a transaction group that includes an entrypoint call

Last week, *transactions part of a transaction group that includes an entrypoint call* were on average **138,719** per day. As compared to a daily average of **123,799** the week before.

The daily average of *transactions part of a transaction group that includes an entrypoint call*, is up **12%** *(14,919.57)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-transactions-in-groups-with-entrypoint-calls
</chart>
</div>

---



#### Transaction groups with an entrypoint call

Last week, *transaction groups with an entrypoint call* were on average **29,859** per day. As compared to a daily average of **27,504** the week before.

The daily average of *transaction groups with an entrypoint call*, is up **9%** *(2,354.71)*, week over week.



<div>
<chart
 start_date="2023-04-06"
 end_date="2023-05-07"
 overlay="weekly_trend"
 >
tezos-chain-transaction-groups-with-entrypoint
</chart>
</div>

---


Tezos Weekly Trends Report - w18 | 2023

All tracked engagement metrics in the green due to two subsequent F1 weekends

# Weekly Tezos usage trend report

*The Highlight:* A cyclical pattern seems to appear in contract to contract transactions.

The peaks in the cyclic pattern seem to line up with the [Plenty network](/dashboards/tezos/contracts/KT1JVjgXPMMSaa6FkzeJcgb8q9cUaLmwaJUX) liquidity pool emissions voting cycle.

See the chart below for the highlight. Read on for the general trend report charts as usual.

<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-contract-to-contract-transactions
</chart>
</div>

---
---


This is the Weekly Tezos blockchain trend report, by The Stack Report. We cover the risers and fallers for the core tezos chain usage metrics such as transactions,  active wallets and contract usage.
On a weekly basis this report compares week-over-week daily averages. Charts are interactive and can be zoomed out to get a full chain view from launch up till now.

Calculations in text based on data up to Sunday April 23, 2023, comparing the week from Monday April 17, 2023 to Sunday April 23, 2023 and the week before, from Monday April 10, 2023 to Sunday April 16, 2023.


#### Transactions

Last week, *transactions* were on average **122,154** per day. As compared to a daily average of **130,491** the week before.

The daily average of *transactions*, is down **-6%** *(-8,336.43)*, week over week.


<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-transactions
</chart>
</div>

---



#### Transactions by wallets

Last week, *transactions by wallets* were on average **73,043** per day. As compared to a daily average of **85,957** the week before.

The daily average of *transactions by wallets*, is down **-15%** *(-12,914.29)*, week over week.


<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-wallet-sender-transactions
</chart>
</div>

---



#### Transactions by contracts

Last week, *transactions by contracts* were on average **49,111** per day. As compared to a daily average of **44,533** the week before.

The daily average of *transactions by contracts*, is up **10%** *(4,577.86)*, week over week.



<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-contract-sender-transactions
</chart>
</div>

---



#### Transactions targeting wallets

Last week, *transactions targeting wallets* were on average **51,383** per day. As compared to a daily average of **61,747** the week before.

The daily average of *transactions targeting wallets*, is down **-17%** *(-10,364.14)*, week over week.


<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-wallet-targeted-transactions
</chart>
</div>

---



#### Transactions targeting contracts

Last week, *transactions targeting contracts* were on average **70,771** per day. As compared to a daily average of **68,743** the week before.

The daily average of *transactions targeting contracts*, is up **3%** *(2,027.71)*, week over week.



<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-contract-targeted-transactions
</chart>
</div>

---



#### Transactions from wallets to wallets

Last week, *transactions from wallets to wallets* were on average **38,092** per day. As compared to a daily average of **47,981** the week before.

The daily average of *transactions from wallets to wallets*, is down **-21%** *(-9,889)*, week over week.


<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-wallet-to-wallet-transactions
</chart>
</div>

---



#### Transactions from wallets to contracts

Last week, *transactions from wallets to contracts* were on average **34,951** per day. As compared to a daily average of **37,976** the week before.

The daily average of *transactions from wallets to contracts*, is down **-8%** *(-3,025.29)*, week over week.


<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-wallet-to-contract-transactions
</chart>
</div>

---


#### Transactions from contracts to contracts

Last week, *transactions from contracts to contracts* were on average **35,820** per day. As compared to a daily average of **30,767** the week before.

The daily average of *transactions from contracts to contracts*, is up **16%** *(5,053)*, week over week.



<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-contract-to-contract-transactions
</chart>
</div>

---


#### Transactions from contracts to wallets

Last week, *transactions from contracts to wallets* were on average **13,291** per day. As compared to a daily average of **13,766** the week before.

The daily average of *transactions from contracts to wallets*, is down **-3%** *(-475.14)*, week over week.


<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-contract-to-wallet-transactions
</chart>
</div>

---



#### Nr of transaction groups

Last week, *nr of transaction groups* were on average **26,988** per day. As compared to a daily average of **27,784** the week before.

The daily average of *nr of transaction groups*, is down **-3%** *(-796.29)*, week over week.


<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-transaction-groups
</chart>
</div>

---



#### Wallets sending transactions

Last week, *wallets sending transactions* were on average **4,846** per day. As compared to a daily average of **4,736** the week before.

The daily average of *wallets sending transactions*, is up **2%** *(110.14)*, week over week.



<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-wallets-sending-transactions
</chart>
</div>

---



#### Wallets calling contracts

Last week, *wallets calling contracts* were on average **3,393** per day. As compared to a daily average of **3,556** the week before.

The daily average of *wallets calling contracts*, is down **-5%** *(-162.71)*, week over week.


<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-wallets-calling-contracts
</chart>
</div>

---



#### Contracts sending transactions

Last week, *contracts sending transactions* were on average **830** per day. As compared to a daily average of **826** the week before.

The daily average of *contracts sending transactions*, is up **0%** *(3.57)*, week over week.



<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-contracts-sending-transactions
</chart>
</div>

---



#### Wallets involved in transactions

Last week, *wallets involved in transactions* were on average **39,654** per day. As compared to a daily average of **48,274** the week before.

The daily average of *wallets involved in transactions*, is down **-18%** *(-8,620.43)*, week over week.


<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-wallets-involved-in-transactions
</chart>
</div>

---



#### Transactions calling a smart contract entrypoint

Last week, *transactions calling a smart contract entrypoint* were on average **67,675** per day. As compared to a daily average of **66,045** the week before.

The daily average of *transactions calling a smart contract entrypoint*, is up **2%** *(1,629.43)*, week over week.



<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-entrypoint-call-transactions
</chart>
</div>

---



#### Transactions part of a transaction group that includes an entrypoint call

Last week, *transactions part of a transaction group that includes an entrypoint call* were on average **84,595** per day. As compared to a daily average of **82,890** the week before.

The daily average of *transactions part of a transaction group that includes an entrypoint call*, is up **2%** *(1,704.71)*, week over week.



<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-transactions-in-groups-with-entrypoint-calls
</chart>
</div>

---



#### Transaction groups with an entrypoint call

Last week, *transaction groups with an entrypoint call* were on average **23,245** per day. As compared to a daily average of **24,406** the week before.

The daily average of *transaction groups with an entrypoint call*, is down **-5%** *(-1,160.86)*, week over week.


<div>
<chart
 start_date="2023-03-23"
 end_date="2023-04-23"
 overlay="weekly_trend"
 >
tezos-chain-transaction-groups-with-entrypoint
</chart>
</div>

---


Tezos Weekly Trends Report - w16 | 2023

Week-over-week recurring pattern appears in contract to contract transactions

# Weekly Tezos usage trend report

Even though NFT NYC took place which can be seen in a slight peak on April 12 on the new [FXHash contract](/dashboards/tezos/contracts/KT1EfsNuqwLAWDd3o4pvfUx1CAh5GMdTrRvr), usage trends week-over-week are flat for Tezos.

This is the Weekly Tezos blockchain trend report, by The Stack Report. We cover the risers and fallers for the core tezos chain usage metrics such as transactions,  active wallets and contract usage.
On a weekly basis this report compares week-over-week daily averages. Charts are interactive and can be zoomed out to get a full chain view from launch up till now.

Calculations in text based on data up to Sunday April 16, 2023, comparing the week from Monday April 10, 2023 to Sunday April 16, 2023 and the week before, from Monday April 03, 2023 to Sunday April 09, 2023.


#### Transactions

Last week, *transactions* were on average **130,491** per day. As compared to a daily average of **130,919** the week before.

The daily average of *transactions*, is down **0%** *(-428.71)*, week over week.


<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-transactions
</chart>
</div>

---



#### Transactions by wallets

Last week, *transactions by wallets* were on average **85,957** per day. As compared to a daily average of **84,655** the week before.

The daily average of *transactions by wallets*, is up **2%** *(1,302)*, week over week.



<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-wallet-sender-transactions
</chart>
</div>

---



#### Transactions by contracts

Last week, *transactions by contracts* were on average **44,533** per day. As compared to a daily average of **46,264** the week before.

The daily average of *transactions by contracts*, is down **-4%** *(-1,730.71)*, week over week.


<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-contract-sender-transactions
</chart>
</div>

---



#### Transactions targeting wallets

Last week, *transactions targeting wallets* were on average **61,747** per day. As compared to a daily average of **56,763** the week before.

The daily average of *transactions targeting wallets*, is up **9%** *(4,984.29)*, week over week.



<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-wallet-targeted-transactions
</chart>
</div>

---



#### Transactions targeting contracts

Last week, *transactions targeting contracts* were on average **68,743** per day. As compared to a daily average of **74,156** the week before.

The daily average of *transactions targeting contracts*, is down **-7%** *(-5,413)*, week over week.


<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-contract-targeted-transactions
</chart>
</div>

---



#### Transactions from wallets to wallets

Last week, *transactions from wallets to wallets* were on average **47,981** per day. As compared to a daily average of **42,861** the week before.

The daily average of *transactions from wallets to wallets*, is up **12%** *(5,120.57)*, week over week.



<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-wallet-to-wallet-transactions
</chart>
</div>

---



#### Transactions from wallets to contracts

Last week, *transactions from wallets to contracts* were on average **37,976** per day. As compared to a daily average of **41,794** the week before.

The daily average of *transactions from wallets to contracts*, is down **-9%** *(-3,818.57)*, week over week.


<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-wallet-to-contract-transactions
</chart>
</div>

---



#### Transactions from contracts to contracts

Last week, *transactions from contracts to contracts* were on average **30,767** per day. As compared to a daily average of **32,362** the week before.

The daily average of *transactions from contracts to contracts*, is down **-5%** *(-1,594.43)*, week over week.


<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-contract-to-contract-transactions
</chart>
</div>

---



#### Transactions from contracts to wallets

Last week, *transactions from contracts to wallets* were on average **13,766** per day. As compared to a daily average of **13,902** the week before.

The daily average of *transactions from contracts to wallets*, is down **-1%** *(-136.29)*, week over week.


<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-contract-to-wallet-transactions
</chart>
</div>

---



#### Nr of transaction groups

Last week, *nr of transaction groups* were on average **27,784** per day. As compared to a daily average of **29,652** the week before.

The daily average of *nr of transaction groups*, is down **-6%** *(-1,867.71)*, week over week.


<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-transaction-groups
</chart>
</div>

---



#### Wallets sending transactions

Last week, *wallets sending transactions* were on average **4,736** per day. As compared to a daily average of **5,006** the week before.

The daily average of *wallets sending transactions*, is down **-5%** *(-270.71)*, week over week.


<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-wallets-sending-transactions
</chart>
</div>

---



#### Wallets calling contracts

Last week, *wallets calling contracts* were on average **3,556** per day. As compared to a daily average of **3,768** the week before.

The daily average of *wallets calling contracts*, is down **-6%** *(-212.29)*, week over week.


<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-wallets-calling-contracts
</chart>
</div>

---



#### Contracts sending transactions

Last week, *contracts sending transactions* were on average **826** per day. As compared to a daily average of **851** the week before.

The daily average of *contracts sending transactions*, is down **-3%** *(-25.14)*, week over week.


<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-contracts-sending-transactions
</chart>
</div>

---



#### Wallets involved in transactions

Last week, *wallets involved in transactions* were on average **48,274** per day. As compared to a daily average of **39,666** the week before.

The daily average of *wallets involved in transactions*, is up **22%** *(8,608.71)*, week over week.



<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-wallets-involved-in-transactions
</chart>
</div>

---



#### Transactions calling a smart contract entrypoint

Last week, *transactions calling a smart contract entrypoint* were on average **66,045** per day. As compared to a daily average of **71,032** the week before.

The daily average of *transactions calling a smart contract entrypoint*, is down **-7%** *(-4,986.71)*, week over week.


<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-entrypoint-call-transactions
</chart>
</div>

---



#### Transactions part of a transaction group that includes an entrypoint call

Last week, *transactions part of a transaction group that includes an entrypoint call* were on average **82,890** per day. As compared to a daily average of **88,405** the week before.

The daily average of *transactions part of a transaction group that includes an entrypoint call*, is down **-6%** *(-5,515.29)*, week over week.


<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-transactions-in-groups-with-entrypoint-calls
</chart>
</div>

---



#### Transaction groups with an entrypoint call

Last week, *transaction groups with an entrypoint call* were on average **24,406** per day. As compared to a daily average of **25,697** the week before.

The daily average of *transaction groups with an entrypoint call*, is down **-5%** *(-1,291.57)*, week over week.


<div>
<chart
 start_date="2023-03-16"
 end_date="2023-04-16"
 overlay="weekly_trend"
 >
tezos-chain-transaction-groups-with-entrypoint
</chart>
</div>

---


Tezos Weekly Trends Report - w15 | 2023

Usage remains flat week-over-week after Tezos NFT Summit & NFT NYC

# Weekly Tezos usage trend report

After [last weeks peak](/articles/tezos-weekly-trends-report-w13-2023) in usage from another free [McLaren NFT collectible](/dashboards/tezos/contracts/KT1BRADdqGk2eLmMqvyWzqVmPQ1RCBCbW5dY), Tezos usage is dropping again this week to regular levels.
Will this be a recurring pattern for Tezos throughout 2023 or will other projects start to bring renewed usage to the chain?

This is the Weekly Tezos blockchain trend report, by The Stack Report. We cover the risers and fallers for the core tezos chain usage metrics such as transactions,  active wallets and contract usage.
On a weekly basis this report compares week-over-week daily averages. Charts are interactive and can be zoomed out to get a full chain view from launch up till now.

Calculations in text based on data up to Sunday April 09, 2023, comparing the week from Monday April 03, 2023 to Sunday April 09, 2023 and the week before, from Monday March 27, 2023 to Sunday April 02, 2023.


#### Transactions

Last week, *transactions* were on average **130,919** per day. As compared to a daily average of **166,349** the week before.

The daily average of *transactions*, is down **-21%** *(-35,430)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-transactions
</chart>
</div>

---



#### Transactions by wallets

Last week, *transactions by wallets* were on average **84,655** per day. As compared to a daily average of **117,330** the week before.

The daily average of *transactions by wallets*, is down **-28%** *(-32,674.43)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-wallet-sender-transactions
</chart>
</div>

---



#### Transactions by contracts

Last week, *transactions by contracts* were on average **46,264** per day. As compared to a daily average of **49,020** the week before.

The daily average of *transactions by contracts*, is down **-6%** *(-2,755.57)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-contract-sender-transactions
</chart>
</div>

---



#### Transactions targeting wallets

Last week, *transactions targeting wallets* were on average **56,763** per day. As compared to a daily average of **66,127** the week before.

The daily average of *transactions targeting wallets*, is down **-14%** *(-9,364.14)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-wallet-targeted-transactions
</chart>
</div>

---



#### Transactions targeting contracts

Last week, *transactions targeting contracts* were on average **74,156** per day. As compared to a daily average of **100,222** the week before.

The daily average of *transactions targeting contracts*, is down **-26%** *(-26,065.86)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-contract-targeted-transactions
</chart>
</div>

---



#### Transactions from wallets to wallets

Last week, *transactions from wallets to wallets* were on average **42,861** per day. As compared to a daily average of **50,837** the week before.

The daily average of *transactions from wallets to wallets*, is down **-16%** *(-7,976.29)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-wallet-to-wallet-transactions
</chart>
</div>

---



#### Transactions from wallets to contracts

Last week, *transactions from wallets to contracts* were on average **41,794** per day. As compared to a daily average of **66,493** the week before.

The daily average of *transactions from wallets to contracts*, is down **-37%** *(-24,698.14)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-wallet-to-contract-transactions
</chart>
</div>

---



#### Transactions from contracts to contracts

Last week, *transactions from contracts to contracts* were on average **32,362** per day. As compared to a daily average of **33,730** the week before.

The daily average of *transactions from contracts to contracts*, is down **-4%** *(-1,367.71)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-contract-to-contract-transactions
</chart>
</div>

---



#### Transactions from contracts to wallets

Last week, *transactions from contracts to wallets* were on average **13,902** per day. As compared to a daily average of **15,290** the week before.

The daily average of *transactions from contracts to wallets*, is down **-9%** *(-1,387.86)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-contract-to-wallet-transactions
</chart>
</div>

---



#### Nr of transaction groups

Last week, *nr of transaction groups* were on average **29,652** per day. As compared to a daily average of **32,467** the week before.

The daily average of *nr of transaction groups*, is down **-9%** *(-2,815.43)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-transaction-groups
</chart>
</div>

---



#### Wallets sending transactions

Last week, *wallets sending transactions* were on average **5,006** per day. As compared to a daily average of **5,209** the week before.

The daily average of *wallets sending transactions*, is down **-4%** *(-202.86)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-wallets-sending-transactions
</chart>
</div>

---



#### Wallets calling contracts

Last week, *wallets calling contracts* were on average **3,768** per day. As compared to a daily average of **4,027** the week before.

The daily average of *wallets calling contracts*, is down **-6%** *(-258.71)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-wallets-calling-contracts
</chart>
</div>

---



#### Contracts sending transactions

Last week, *contracts sending transactions* were on average **851** per day. As compared to a daily average of **792** the week before.

The daily average of *contracts sending transactions*, is up **8%** *(59.43)*, week over week.



<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-contracts-sending-transactions
</chart>
</div>

---



#### Wallets involved in transactions

Last week, *wallets involved in transactions* were on average **39,666** per day. As compared to a daily average of **44,826** the week before.

The daily average of *wallets involved in transactions*, is down **-12%** *(-5,160.71)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-wallets-involved-in-transactions
</chart>
</div>

---



#### Transactions calling a smart contract entrypoint

Last week, *transactions calling a smart contract entrypoint* were on average **71,032** per day. As compared to a daily average of **97,674** the week before.

The daily average of *transactions calling a smart contract entrypoint*, is down **-27%** *(-26,642.43)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-entrypoint-call-transactions
</chart>
</div>

---



#### Transactions part of a transaction group that includes an entrypoint call

Last week, *transactions part of a transaction group that includes an entrypoint call* were on average **88,405** per day. As compared to a daily average of **116,095** the week before.

The daily average of *transactions part of a transaction group that includes an entrypoint call*, is down **-24%** *(-27,689.86)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-transactions-in-groups-with-entrypoint-calls
</chart>
</div>

---



#### Transaction groups with an entrypoint call

Last week, *transaction groups with an entrypoint call* were on average **25,697** per day. As compared to a daily average of **27,048** the week before.

The daily average of *transaction groups with an entrypoint call*, is down **-5%** *(-1,351.14)*, week over week.


<div>
<chart
 start_date="2023-03-09"
 end_date="2023-04-09"
 overlay="weekly_trend"
 >
tezos-chain-transaction-groups-with-entrypoint
</chart>
</div>

---

Tezos Weekly Trends Report - w14 | 2023

Post-race-weekend dip in Tezos usage, will it be a recurring pattern for 2023?

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