Introduction

• Osmosis, like Terra, is a proof of stake (PoS) blockchain. Just as users on the Terra network could staked their assets, Osmosis also allows its users to stake the tokens of blockchains from across the Cosmos ecosystem.
• OSMO holders can delegate their assets to validator to earn a share of participatory rewards just like LUNA holders.
• Due to the same consensus mechanism for both Osmosis and Terra networks, OSMO holders can choose their preferred validator. There are currently 135 active validators on Osmosis.

Question

• Are Terra projects interested in migrating over to Osmosis? What is most important to Terra developers when looking for a chain to migrate to and why might Osmosis be a good choice?

• Using news sources and on-chain Osmosis data, discuss some of your thoughts on this. Are there programs to assist Terra developers migrate over to Osmosis? Is the Osmosis network ready for development of dApps and smart contracts?

On-chain Data Analysis

Excluding the crash in the crypto market, the highest number of transactions on Terra was recorded on May 8. The number of transactions on that day is 866k.

💡 A comparison of the maximum number of transactions recorded on the two networks shows the same capacity of Osmosis and Terra. In other words, Osmosis can support the same number of transactions.

But it is true that the maximum number of transactions recorded on the two networks is almost equal, but the average number of daily transactions in Osmosis is almost half Terra.

First, we examine the number of transactions on the two networks.

The number of transactions on Osmosis has always been up except for April 2022, which indicates the growth of this network.

Ignoring the number of transactions on May 12 (crypto market crash-896k transactions), the highest number of transactions on Osmosis was recorded on March 22 (725k transactions).

The next section shows the daily total gas used chart. We want to examine how changes in the number of transactions on Osmosis affect the gas used and compare the correlation between these two variables in Osmosis and Terra networks.

The correlation coefficient between the number of transactions and total gas used for the two networks was calculated based on the following equation.

The above values ​​show that the correlation value between the number of transactions and the amount of gas used on the tera network is high and direct. On the other hand, this value is moderate and direct for the osmosis network. In other words, the effect of increasing the number of transactions on the amount of gas used on the Osmosis network is less than the Terra network.

💡 As the number of transactions increases, the amount of gas used by the Osmosis network is less affected than that of the Terra network.

• As the Terra ecosystem virtually dissolved overnight, rivaling blockchain projects are taking the crisis as an opportunity. To attract Terra developers, Osmosis revealed its plan for a grants program between $5,000 to $500,000 to fund projects that add value to the Osmosis protocol.

In the following, we will compare some technical aspects for the two networks.