Flow vs L1s
Q3. Create a dashboard comparing the following metrics between Flow, Solana, Ethereum, and Algorand. Visualize these metrics over time since May 9th. -Number of transactions -Transaction success rates -Number of unique wallets to make a transaction -Number of wallets that used the chain everyday since May 9th -Transaction fees How does Flow compare to these other chains and how do you think it will trend over time?
Introduction
As the foundation for a new generation of digital games, apps, and the assets that fuel them, Flow is a fast and decentralized blockchain developed with developers in mind. Multi-role architecture allows it to scale without sharding while keeping a developer-friendly, ACID-compliant environment that allows for substantial increases in performance and throughput.
Method
The following methods are utilized in the construction of this dashboard:
The first important point to make is that in just 23 days, all of the transactions that took place on these four blockchains were collected. In each of the four iterations of the calculation, the transaction success rate was determined by dividing the total number of transactions by the number of transactions that were successfully completed. After that, the total number of unique wallets across these four blockchains was determined. After then, the number of unique wallets that made use of these networks was collected in order to determine how frequently these networks were used. In the end, every single one of these chains was successful in finishing the transaction. To the same extent as the number of native tokens already present on the blockchain,
Observation
Flow: The main trend is upward, however there are frequent changes in the overall trend. In the latter days of May you can see a constant condition in the number of daily transactions, despite the general trend being somewhat decreased. Solana: This 23-day period in Solana shows an increasing tendency, which is accompanied by minor volatility. As with Ethereum, Algorand had a negative trend in May, but ended the month with a neutral trend (although with more clearly fluctuations than Ethereum)
Transaction success rates
Solana's success rate ranges from 43.8 to 58.83. This lower success rate than other networks, along with the huge volume of transactions in Solana, suggests that users make several attempts. This network's rising success rate is obvious. From May 12 (lowest transaction success rate, 43.8%) to May's conclusion, the success rate grew by roughly 40%.
The changing and almost climbing trend of Algorand's success rate of 94% indicates the network's solid transaction processing status.
blockchain Ethereum Early in this period, it was ranked top in transaction success, but over time, its success rate declined, reaching its lowest level on May 17. We're here (approximately 96 percent ).
On May 12 to 15th, the Flow network's transaction has a dump and pump on success rate on transactions, falling 50% by May 15. (compared to May 12)
The number of unique wallets that have traded on these networks throughout the course of the past 23 days is depicted in the circular graph that can be found above (both successful and unsuccessful transactions are included here). It is quite evident that the Ethereum blockchain is far better than any other blockchain: approximately 2.3 times greater than the number of distinct wallets on Solana. Comparatively speaking, approximately 10 times more than the Algorand network. Comparatively, this is around 11 times more than the Flow network.
Ethereum is falling. May 13 saw the most unique wallets traded on Ethereum (489k), whereas May 26 saw the fewest. (308k)
Solana had a 44% increase in unique wallets from May 13 (the lowest number) to May 30.
Flow's overall trend is decreasing if we ignore the May 20-24 spike. Along with the drop in flow network transaction success, the number of unique wallets has also fallen. Wallets seem to have found out the volume of unsuccessful transactions, which is fascinating and may be evaluated.
Algorand has a 17-day downturn (ending May 24) and a late-May explosion.
Transaction fees How does Flow compare to these other chains and how do you think it will trend over time?
- To answer this question, you can have a glance at the last chart. The price of Ethereum has been on a downward trend recently, with the exception of May 12, when it appears that a "GAS WAR" has taken place. It appears that Solana is continuing on its upward trajectory (with a number of fluctuations). The share price of Algorand is likewise falling at an alarming rate (a decrease of about 40 percent ). And like others FLOW network fee goes on fluctuations too.