Introduction

Arbitrum Nova is a new AnyTrust-based chain with low transaction fees and a high level of security. Nova differs from Arbitrum One in that it does not post all transaction data to the chain, but rather to a Data Availability Committee.

OffchainLabs created AnyTrust technology (who built Arbitrum). The Nova security level is somewhere between a sidechain and an optimistic rollup: with a set committee running the chain, the requirement is only for a small minority (2/20, for example) to be honest. A sidechain would necessitate 51%+. Rather than posting all data to the Ethereum network, the committee certifies and validates batches of transactions and only posts the certifications, saving users money. There is no need to record all L2 tx data on the L1 chain because nodes can rely on the committee to supply data if necessary. Instead, it's safe to simply record the hash of a tx batch on the L1, which saves a lot of time compared to how rollups work. Link

Method

In the current dashboard, I attempted to use the metrics listed above to provide an overview of Arbitrum Nova, which Arbitrum One recently announced. I began by transferring ETH from Ethereum Mainnet and Arbitrum One to Arbitrum Nova, and then I attempted to evaluate the aforementioned metrics using tables from the Flipsidecripto velocity database and the following formulas.

TO ADDRESS = '0xc4448b71118c9071bcb9734a0eac55d18a153949' in the ethereum.core.fact transactions table, and TO ADDRESS = '0x80c67432656d59144ceff962e8faf8926599bcf8' in the arbitrum.core.fact transactions table.

I used the following SQL code to determine the days of the week:

dayname(date) as week_days,

Let's check out the results.

Analysis

:loudspeaker: Address Tracking & Overall View

Conclusion

Transfer ETH from Arbitrum and Ethereum to Nova is still in its early stages, so only a small number of users trust it with their assets.

However, for the newest such network, the evaluated metrics are significant and meaningful.

I believe this adoption is more due to users' expectations of $ARBI token rumors, as such activities increase the likelihood of being eligible to receive potentially token. 

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

What happened on going to Arbitrum Nova?

In the current dashboard we are looking at:

> * Daily Transferred Transactions Count from Ethereum Mainnet and Arbitrum One. > * Daily Transferred Volume Amount (in ETH & $USD) from Ethereum Mainnet and Arbitrum One. > * Daily Spent Transactions fee Amount (in ETH & $USD) from Ethereum Mainnet and Arbitrum One. > * Total Value Locked. > * Top 10 Addresses Based on Transferred Volume. > * & Changes in Days of Week

Hey there 👋!

Firstly, I appreciate you sticking with it until the conclusion.

I’m Hamed, Ph.D. In Civil Engineering and interested in data science.

I've made many similar dashboards and visualizations since I started at Flipside in January.

Please have a look at my various contact information and let me know what you think.

:telescope: Findings:

The evaluated metrics in total are as following:

• Total transferred transactions

> Arbitrum One to Nova: 40.3k > > Ethereum Mainnet to Nova: 18.5k

• Total Unique Users

> Arbitrum One to Nova: 37.2k > > Ethereum Mainnet to Nova: ~18k

• Total amount of transferred volume (in ETH):

> Arbitrum One to Nova: 11.8k > > Ethereum Mainnet to Nova: 1.63k

• Total amount of transferred volume (in $USD):

> Arbitrum One to Nova: 15.8m $ > > Ethereum Mainnet to Nova: 2.83m $

• Total amount of spent fee (in $USD):

> Arbitrum One to Nova: 6k $ > > Ethereum Mainnet to Nova: 32k $

:1st_place_medal: Top 10 Addresses Based on ETH Transferred Volume

:telescope: Findings:

Transferred from Arbitrum One began on June 15th, and the volatility was at its peak in the days following the announcement, but by June 27th, it had dropped to less than half of what it had been.

Transactions on the Ethereum mainnet started on August 9th, seriously.

The Total value locked, also known as TVL, at the current date is 1.7m in USD. Because of the drop in ETH price nowadays, it has decreased.

:telescope: Findings:

Following daily count of transactions and transferred volume, the count of unique users on Arbitrum one were in the same pattern.

Also on Ethereum mainnet the raise in count of unique users begun on August 10th.

:telescope: Findings:

The daily fee in $USD was at the highest level on August 11th on Ethereum. That was the highest peak in Ethereum price since late June. and after that, with the drop in ETH price, the spent fee decreased.

:calendar: Days of Week Activities

• As of following bar charts the transferred volume and count of transferred transactions on weekend are in the most that is because of lowest fee amount on Ethereum netwok.

• Also the highest amount of fees volume were spent on Thursdays on Ethereum network,

:telescope: Findings:

The 0x151409521fc4af3dbace6d97fd4148a44bf07300 from Arbitrum is in first place on top 10 addresses from Arbotrum one to Arbitrum Nova, with a transfer volume of more than 702 ETH, and 35 ETH from Ethereum mainnet is in fourth place on the top 10 addresses from Ethereum to Nova. This is the only mutual address on the two above tables.