Decentralization Progress

    key takeaways: The network has 457 validators, with over 95% of staked tokens delegated to the top 10 validators. 655.8M FLOW tokens have been staked by 41.1K unique delegators, with increasing trends in the count of delegations and unique delegators. Comparisons to other chains, such as Near protocol, provide context on market potential and adoption for the Flow network.

    ✨Introduction
    🛠️ Method

    Flow is a blockchain platform that originally was designed for gaming purposes, but has expanded since its launch in 2020. The flow blockchain enables fast, low-cost transactions and supports smart contracts. Flow also has a native cryptocurrency that trades under the symbol FLOW [1].

    Operators of nodes are often referred to as node operators. A node operator must acquire tokens before they may link their software applications on the network. To ensure that node operators don't break the rules of the network—for example, by stealing money from user accounts—they must temporarily hand over (or "stake") a big portion of their tokens.

    Staking refers to the temporary relinquishment of tokens.

    Flow tracks node operators. The list includes each node's public key, address, and kind. (Collection, Consensus, Execution, or Verification)

    Node operators register nodes by submitting a transaction with node information and FLOW to stake. If they meet the node requirements, they can join the network.

    Once a node is staking and operating properly, it will receive periodic reward payments if it stays online, actively participates in the protocol, and doesn't commit slashable offenses. Nodes must operate for a protocol-specified time after registering [2].

    In this analysis, we are going to make a dashboard to gain insights into staking actions and delegator behavior on the FLOW blockchain. We will focus on the flow.core.ez_staking_actions table and classify actions into three types: Stake, Unstake, and Claim Reward.

    To ensure data accuracy, we will only consider successful transactions. Furthermore, we will examine the staked vs circulating $FLOW by extracting the circulating supply of $FLOW, which has been determined to be 1,036,200,000 FLOW tokens since May 2022.