TokenInsight: Tezos Ecosystem Research Report

Source: TokenInsight Research

Tezos is a decentralized public blockchain that began operating in October 2018. According to the white paper, Tezos uses the LPoS (Liquid Proof-of-Stake) mechanism to maintain network operations and has a self-amendment mechanism, allowing developers to create applications using the Michelson language.

1. Tezos has been operational since 2018, utilizing the LPoS (Liquid Proof-of-Stake) mechanism to maintain network operations. Nodes holding over 8,000 tez can act as "Bakers" to maintain network operations and earn token rewards. Tezos has over 400 Bakers globally, including Coinbase, Binance, Kraken, etc.;
2. Tezos features a "self-amendment mechanism" that enables network upgrades through on-chain voting. To date, Tezos has undergone 7 network upgrades without any risk events, and the success of these upgrades somewhat proves the feasibility of this mechanism. The proposal for the eighth upgrade, "HangZhou," has been submitted and is currently under community review;
3. At the launch of the Tezos mainnet, the initial supply of tez (XTZ) was 763 million, with an annual inflation rate of 5%. As of December 21, 2021, the circulating supply of XTZ was 798,232,721 tez;
4. The Tezos Foundation, TZ APAC, and ecological partners such as Nomadic Labs, TriliTech, and Blokhaus are jointly promoting the development of the Tezos ecosystem, and projects within the ecosystem are continuously achieving collaborations across various fields;
5. There are over 100 decentralized applications on the Tezos network, primarily focusing on the DeFi and NFT sectors. The trading volume and user numbers of NFT trading platforms have performed well, and in the currently hot areas of GameFi and DeFi 2.0, Tezos is still in the exploratory stage;
6. Since the second half of 2021, the performance of Tezos's NFT sector has been noteworthy, with applications like hic et nunc and objkt.com maintaining a good growth trend in transaction volume and user numbers over the past three months. Meanwhile, Tezos has established partnerships with the Grammys, Red Bull Racing, and McLaren Racing to enrich the NFT ecosystem within the network;
7. Tezos ranks 33rd in terms of on-chain asset scale among public blockchain networks. From data comparisons, Tezos still has considerable room for growth in both locked value and protocol numbers compared to higher-ranking public chains.

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