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The decentralized ecosystem of Tezos continues to expand by adding new connections in the crypto world, especially in the NFT niches, infrastructure, staking, and nodes.
The multiple applications and tools are becoming increasingly numerous, offering both users and developers a solid cryptographic environment to navigate.
In this article, we look at some of the lesser-known but incredibly useful open source tools available on the Tezos blockchain.
All the details below.
Summary
The flourishing crypto Web3 ecosystem of Tezos
The decentralized landscape of Tezos appears increasingly attractive, with the crypto project continuing to develop new dapps and innovative tools.
The web3 presence of the L1 blockchain Proof-of-Stake has expanded significantly in recent months, especially in the NFT, wallet, nodes, and governance sectors.
The cryptographic network, although it was initially conceived as an alternative to Ethereum, has even opened up to the EVM world recently by launching the smart rollup Etherlink.
Given the growing competition in the on-chain world, Tezos has chosen to focus on scalability and interoperability capable of attracting as many users as possible.
The final goal of Tezos X is to maintain level 1 as a strong, lightweight, and decentralized settlement layer, while on the other hand offering customized L2 solutions.
This approach has led to an influx of new developers, who have contributed to the growth of the environment by launching tools for NFT, dashboards for crypto nodes, and DAO platforms.
Consider that according to the project’s official website, there are a total of 77 applications, in addition to many other open source tools from the community.
The holdings for the niches of artists and players stand out significantly, as well as, of course, that of decentralized finance.
Throughout all this, the Tezos network boasts a TVL of 48 million dollars according to the data from DefiLlama.
A large part of the sum is, however, distributed around the 5 main dapps, namely Youves, Sirius, KordFi, Kolibri, and QuipuSwap.
XTZ, the native crypto of Tezos, is traded at a market price of 0.64 dollars for a capitalization of 640 million dollars.
The best crypto tools on Tezos: focus on wallet, nodes, and NFT
The best of the lesser-known tools in the crypto ecosystem of Tezos are based on artists and NFT collections. Among the best, we cannot fail to mention Bandog and TzFlow.
The first represents a set of tools, created by the community member Jack Tezos, that enhances the experience in the trading of non-fungible tokens.
With Bandong, users can track and analyze their operations, simplifying the journey in the world of cryptographic art. The app also helps to identify and avoid fraudulent collections, bad actors, and suspicious networks.
The second one, on the other hand, acts as a dashboard, from which visitors can observe all the on-chain monitoring activity carried out on Tezos, from simple swaps to more complex transactions.
TzFlow represents an excellent tool for the flow of NFT sales, capable of foreseeing potential mass purchases or sales that could move the floor price of the collection.
Furthermore, it shows interesting metrics of Tezos such as average fees, transactions per second, network volume, and more.
Another very interesting application is TzSafe, an open source resource that allows you to easily create a multisignature wallet.
This type of crypto portfolios allows multiple individuals to manage a single wallet, through a shared signature system. These are ideal solutions for both cryptographic teams and groups of enthusiasts and small collaborators
Tezos also cannot help but have a convenient tool that makes the development of such a portfolio easy and accessible.
TzSafe is the best solution in this regard because it simplifies everything through a simple website with an intuitive interface.
Obviously, you can create a wallet from scratch, or import the private key of an already existing wallet.
Innovation and simplicity among staking, nodes, and governance
The innovative applications of the crypto ecosystem of Tezos do not stop at NFTs and wallets, but also explore the most challenging environments of DeFi such as nodes and staking.
XTZ Chad is in particular a tool little known by the masses (but very useful) that presents itself as a dataset of blockchain information.
This, built by community member DoctorChad, allows users to manage their stake by comparing the potential economic return with other pools.
XTZ Chad allows you to obtain snapshots for your node and track wallets with inflows and outflows to identify the best possible connections.
Additionally, it helps manage the network’s emissions and offers various on-chain metrics to analyze the performance of the decentralized ecosystem.
Here too, the simple and intuitive interfaces dominate.
The main functions TezMoon, ChadStake, Tezcalm, The Eye of Chad, ChadMap, and ChadShots are on the homepage of the website,
Honorable mention also for Homebase, a tool that opens the doors to the spread of decentralized autonomous organizations capable of contributing to the development of Tezos.
The application allows anyone to create a DAO in a few clicks, simplifying the process of social participation in the crypto community.
The DAO represents the best organizations where groups of NFT artists, stakers, node operators, and investors can agree on decisions about the future of the network.
The tool works even without having a governance token, offering flexibility of use. With the latest update, it is also possible to have tez-based voting for your DAO. Managing all the group’s activities is quite simple and potentially usable by a wide range of users.
Several of the major DAOs present on Tezos, such as Tezos Domains, Tezos Ecosystem DAO, and Crunchy network, have used HomeBase as a governance tool.
In total, 71 DAO have been built through HomeBase.
