Home Altcoins News Tezos (XTZ) Competing with Increased Demand in NFTs, DeFi and Play2Earn Sectors

Tezos (XTZ) Competing with Increased Demand in NFTs, DeFi and Play2Earn Sectors

1-Tezos (XTZ) Competing with Increased Demand in NFTs DeFi and Play2Earn Sectors

Those who are interested in the Tezos ecosystem will want to know the latest happenings in the ecosystem.

Some noteworthy news headlines in the media about TEZOS are:  1.  Rocket Monsters Land – A Play to Earn Generative NFT Game.  2.  Rocket Monsters Land – A Play to Earn Generative NFT Game.  3.  Pixel Panda – An Army Of 3000 Cute Pixelated Furrballs on Tezos.  4.  Introducing Teia 5.  Smart link Launches First Tezos NFT Launchpad: A Home to Only Exclusive, Curated NFT Launches.  6.  Plenty DeFi and Wrap Protocol Are Merging into The Plenty Network 7.  Youves Is About to Launch A DEX Function to Enable Low Slippage Trades for Stable Coins and Wrapped 8.  Instaraise Announces the Instaraise Super Samurai Ambassador Program 9.  The Tezos DeFi Hackathon 2022: A Total Of $200,000 Prize Pool to Solve Specific Challenges.

Thus, it is very obvious that an increased NFT demand has led to increased Tezos Transactions and increase in smart contract activity.  The Tezos network has been experiencing progressive growth in its smart contract addresses and increased adoption for the past 12 months.

The current trend is related to NFTs and DeFi and the gaming sector is also gaining traction.  The Tezos Ecosystem is obviously competing with the up-to-date trends in the blockchain ecosystem and the cryptocurrency space.  XTZ is worth exploring.

For those who are new, Tezos Basics:  Tezos is a blockchain designed to evolve.  It helps in executing peer to peer transactions and it also serves as a platform to deploy smart contracts.

Smart Contracts? “A smart contract is a computer program or a transaction protocol which is intended to automatically execute, control or document legally relevant events and actions according to the terms of a contract or an agreement.”

Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary’s involvement or time loss.

Examples of smart contract applications include financial purposes like trading, investing, lending, and borrowing. They can be used for applications in gaming, healthcare, and real estate; and they can even be used to configure entire corporate structures.

Peer to Peer Transactions? Peer-to-peer transactions are electronic money transfers made from one person to another through an intermediary, typically referred to as a P2P payment application.  The payment application is the intermediary.

Deploying means to put something to use in a successful way.  So, Tezos is focused on putting smart contracts and P2P to use in a successful way.

Who is the face behind Tezos?  Tezos was created by husband-and-wife team Arthur and Kathleen Breitman and first proposed in 2014. The non-profit Tezos Foundation, based in Zug, Switzerland, was created in 2017 to support the project and raised $232 million in Bitcoin and Ethereum in one of the biggest initial coin offerings (ICOs) at the time.

How Many Users Does Tezos Have? As of Q4 2021, Tezos has over 160,000 followers on Twitter and an active community of over ~50,000 subscribers on Reddit.

 

 

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James

James T, a passionate crypto journalist from South Africa, explores Litecoin, Dash, & Bitcoin intricacies. Loves sharing insights. Enjoy his work? Donate to support! Dash: XrD3ZdZAebm988BfHr1vqZZu6amSGuKR5F

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