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Q1. What are the 10 most popular contracts that have been used on Flow since May 9th? What do each of those contracts do and why do you think they are so popular? Are there any contracts that seem to be trending and growing in popularity?
What Is Flow?
Flow is a blockchain built for extended scalability without the need of sharding methods, offering rapid and low-cost transactions that make sense for decentralized applications (dapps) such as NFT markets and crypto-infused video games. Flow was developed by Dapper Labs, which resolved its blockchain congestion issue by creating a blockchain optimized for games and other interactive activities. Now, Dapper uses Flow for all of its own projects, including NBA Top Shot, but it is also available to other developers.
When evaluating the total number of transactions, the pie chart depicts the top 10 most popular contracts on the Flow network from May 9th, 2022. FlowToken and FlowFees contracts are the most popular, accounting for 34.4 percent of all transactions. At 9.32 percent, LNVCT has the second-highest transaction volume. FLOAT, with 1.55 percent of the total number of transactions in the top ten most popular contracts, has the fewest total number of transactions. As a consequence, starting May 9, 2022, FlowToken and FlowFees are used in the Flow ecosystem, signaling that users are now primarily focused on Tokens activity.
The daily and daily percentage of number of transactions for the top 10 most popular contracts are unstable, according to the two charts above, with the FlowToken and FlowFees contracts being the dominating patterns from May 9th, 2022 until the present. This evidence clearly shows that Flow's users are now mainly utilized about Tokens activity.
The cumulative number of transactions for the top 10 most popular contracts on Flow has been steadily growing since May 9, 2022, as seen in the line chart above, suggesting that additional transaction volume will be added to Flow in the near future.
The pie chart above illustrates the top 10 most popular contracts on the Flow network from May 9th, 2022, when the total number of users is taken into account. The most common contracts are FlowToken and FlowFees, which account for 49.7% of all transactions per contract. This finding is consistent with the top ten most popular contracts based on transaction volume.
The daily and daily percentages of users for the top 10 most popular contracts are in fluctuation, and we observed that FlowToken and FlowFees are the most dominant patterns across the time period under consideration. Surprisingly, there is a surge in activity on all contracts between May 21 and May 24, according to the number of users.
The cumulative number of users for the top 10 most popular contracts on Flow has been continuously increasing since May 9, 2022, indicating that more adoption will be added to Flow in the near future, as seen in the final graphic. We discovered that the LockedTokens and FlowIDTableStaking contracts are rapidly rising over time, indicating that Flow's users are staking their Flow tokens in the Flow ecosystem.
Conclusion
This analysis determined the top 10 most popular contracts on Flow by analyzing the total number of transactions and the total number of users. Based on these metrics, FlowToken and FlowFees are the two most popular contracts. We also analyzed the growth rate of the 10 most popular contracts on Flow, focusing on the cumulative number of transactions and the cumulative number of users, and found that both charts indicate that there will be an increase in adoptions in the Flow ecosystem in the near future because all contracts exhibit an upward trend.