Introduction

For layer 2, there is more than one scalable option. The ability to see the bright side of things is one. Optimistic rollups make advantage of a method that condenses massive volumes of data into manageable packages. In comparison to Ethereum, the cost of using layer 2s like Optimism and Arbitrum is significantly lower.

Layer 2 of Ethereum's mainnet now benefits from an optimism chain. Whose information is available for auditing on the mainnet, but whose transactions are based on hope rather than certainty.

Rollups are a tactic employed by optimism, more specifically optimistic rollups.

On the Ethereum mainnet, a rollup simply combines the information from multiple transactions into one (layer 1). Non-fungible token (NFT) mints, token exchanges, etc., can all make use of these.

The native token of Optimism is called OP, and there are a total of 4.294 billion in circulation. The Optimism Collective has a two-tiered governance structure made up of the Token House and the Citizens' House, and the OP token entitles its holders to vote in the affairs of both houses. Later in 2022, Citizens' House will go live to the public. Technical choices, such as those concerning Optimism software updates, are governed by Token House, which is already functional.

Method

• This study compares the present state of the Ethereum mainnet to that of three alternative layer2 scaling solutions: Polygon, Arbitrum, and Optimism. Capacity, transaction throughput, gas costs, and user adoption were some of the most frequently discussed characteristics of these networks.
• Also, I tried to assessing the user behavior on most used functions and NFTs marketplace, and on Bridges from Ethereum to Optimism and Vise Versa on three major bridges such Optimism Native Gateway, Hop Protocol & Across.
• All networks' essential information was culled from the fact blocks and fact transactions tables in the core schemas of new Optimism, Arbitrum, Polygon, and Ethereum. Due to the lack of historical data in these repositories, we could only use data from the previous week to calculate our quantitative indices. Parameters were normalized, and the results were averaged over multiple time intervals to remove the effects of time.
• The price tables on Ethereum and Optimism database was used to calculate average price in daily.

I was in doubt as to what month the question was referring to, as we had already made a dashboard once for ==July==, so I decided to chose the calculation period time since July to cover all ==past five month== by weekly. but you can ==change== it by header tapes to your own choice.

Analysis

Vis 1 & 2:== The Price Change of BTC, ETH & OP Since July

• In the charts below, the daily average change price of OP in comparision to BTC & ETH are shown.
• As of these charts, OP price has a positive correlation with BTC & ETH price over tima.

Conclusion

When compared to Ethereum's mainnet, Network Performance of Optimism and other layer2 alternatives show that they are significantly less expensive overall, although they are not as widely used or as widely applicable in the cryptocurrency market, yet. Optimism provides the most cost-effective alternatives to Ethereum's existing network options.

The average Optimism user performs four times as many transactions per day as the average Ethereum user does and two others chains, and the most popular dapps on Optimism are all connected to Defi and a Bridge. This indicates that Optimism is gaining popularity among users who want to conduct frequent Defi transactions. A trend in optimism's user base may be seen in three different ways: ==rising active users==, ==decreasing average fees==, and ==decreasing total fees==. The number of optimistic users has increased by 50% since July, while the platform's costs have decreased by 2 time less.

• And finally, I’m glad to share this research with those who care about this issue via Twitter link, and will be pleased by your comments.

About:

• Author: HaM☰d

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• Discord: 0xHaM☰d#8391

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• Twitter: @arjmandi_hamed

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• Email: h_arjmandi2012@yahoo.com

Q9. Optimism during Bear market.

\n The Aims of Dashboard is looking at:

1. How did the network perform?
2. What about market performance?
3. Were there significant inflows or outflows on bridges?
4. Were there any notable patterns in user behavior?

Image

Network Performance Since July

In this Section I tried to compared the Network Performance On Layer 2s and Ethereum Mainnet Since July, 2022.

Vis 17 => 22:

In these Charts can observed that over past 5 month the Block count per minutes increased , so that blocks per minutes on Optimism network from 76 on early of July went up to 188 on Nov 6th.

Daily tx count on Optimism raised from 100 to over 300 since July till early of Nov.

and Unique users have had a same change rate in smoother trend.

and in this period time fees per days decreased from $0.6 to $0.11 on Optimism Network,

as same as other chains.

Vis 23 => 25:

The Cumulative transactions count, unique users and spent Fees on networks are compared.

Optimism has the lowest amount on all three compared metrics

Network Performance Over Time Since July

This section is allocated to compared the Network Performance On Layer 2s and Ethereum Mainnet over past 5 month, Since July, 2022, .

Users Behavior on Optimism Contracts Since July

In the following visuals the user activities on Optimism based on project name are presented.

totally, the number of unique users increased over past 5 months by weekly.

Vis 26 => 29:

• Bridging To/From Optimism by Hop protocol have the most active users by far, And Uniswap & Velodrome finance, have the most cumulative and share of transactions count over past 5 months.

Vis 30 => 32:

• The charts right and below show the daily Top 10 protocols on Optimism based on the most number of unique user.
• As of these can be seen, Hop protocol, Optimism & Uniswap were top 3 contracts with highest number and share of user interactive.

Users Behavior on Optimism NFTs Marketplace Since July

Vis 33 & 34:

• In the following charts the daily transactions count, Unique users & sales amount volume and cumulative of those are shown.
• As of these, the mentioned metrics since second week of July are in a smooth uptrend till third week of Sep that peaked at nearly 50K transactions per week and after that dropped to 7.5K early week of Nov.
• And cumulative graph shows the same trend.

Optimism Bridges

In the last part of this dashboard, I tried to present the bridges transactions, users and bridged volume trend on three aforementioned bridges over past 5 months.

Vis 35 => 40:

In the charts above the Transactions count, unique users and amount bridged Volume and cumulative growth are shown.

The number of bridging transactions increased over past 5 months, but the bridged volume after reaching the highest point at nearly to $400M in early week of Aug, doesn’t show a regular trend.

The optimism Gateway Native bridge are the most popular in terms of transactions count and bridged volume than other two platforms.

More than 92% of bridged assets volume, transferred from Ethereum mainnet and vise versa by Native bridge that followed by Hop Protocol in second place.

:telescope: Findings:

Blocks Metrics

• Vis 3 & 4, show blocks mined each minute. Polygon and Ethereum create less blocks than Arbitrum and Optimism over past 5 months. For further analysis, each network's block size was established. The second chart show that Ethereum and Polygon have larger blocks than rollups.

Transactions Counrt per Minute & Blocks

• The charts in Vis 5 => 7, show the total number of blocks, transactions per block and transactions per second (TPS). Ethereum and Polygon can fit more transaction data with each blockchain block. Arbitrum has a somewhat higher number of transactions per block than Optimism. Arbitrum and Optimism were meant to keep less data in each block and deliver it to Ethereum's mainnet.

Users Contract

• The daily number of unique wallet addresses that used each blockchain in the examined period time showed that Ethereum had the most users compared to layer2 networks as excepted. Ethereum has more than 150k daily addresses compared to Polygon's 80k in average. Even after 1 year, Arbitrum and Optimism have poor adoption rates. This data reveals Ethereum's user engagement supremacy and layer2 networks delayed adoption rate.

Gas Fee

• As expected, Ethereum and Polygon need more gas each block because to larger blocks and more transactions.

Transaction Fee

• As Observed in ==Vis 14 => 16==, Ethereum's transaction costs are more expensive than the others. Ethereum transactions cost $3.2 while Arbitrum & Optimism cost less than $0.15 and Polygon less than $0.02 in average.
• Each Ethereum user spent $759 in average during past 5 month. This high value includes sophisticated procedures like DeFi smart contracts or NFT sales. Polygon averages $15.8 per user, while Arbitrum 112 & Optimism averages less than 115 dollars, making it a perfect Ethereum alternative.