Introduction

Algorand is a decentralized network built to solve the Blockchain Trilemma of achieving speed, security, and decentralization simultaneously. Algorand Launched in June 2019 and recently turned 3 years old as a blockchain!

One of the main advantages for a user of Algorand is the extremely low fees relative to other blockchains. At the moment, the Algo wallet receiving Algorand blockchain transaction fees is held by the Algorand Foundation.

In this Analysis, we are going to answer this questions:

• What is the total number of active wallets (users with at least one transaction) since the beginning of January 2022?
• What is the total number of transactions since the beginning of January 2022?
• How much have users on Algorand spent on transactions in total?
• What wallets have conducted the most transactions and spent the most on fees?

We have created visualizations in order to show the cost of transaction fees per day accumulated since the beginning of January 2022, the Average fee per user, and changes in the number of users and transactions.

Used table: flipside_prod_db.algorand.transactions | Analysis date range: [2022-01-01, 2022-07-05]

As you can see in the above blocks, about 10.34M wallet paid 410K Algo on fees by doing 280M transactions.

by looking at the daily fee changes chart and comparing that with the trend of the number of users and the number of transactions we can find out:

• the maximum costs on fees happened on the 7 of Jan 2022, when the number of transactions is maximum.

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• In the first half of May, increasing in the number of wallets(users) and increasing in the number of transactions, causes an increase in the costs of fees.

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• totally, the number of transactions and the cost of fees in the first months of 2022 were more than other months.

In the next chart you can see the cost of transaction fees per day accumulated since the beginning of January 2022.

This chart shows accumulated amounts:

• The summation of the cost of transactions has increased at an almost constant rate.

• From the beginning of Jan 2022 until now (5 Jul 2022), about 410k Algo is paid for fees.

As more information, you can notice the average daily fee per user and per transaction in the next chart.

In the last part of the analysis, we are going to show you the 5 top wallets with the most number of transactions and the most Fee volume.

1. ZW3ISEHZUHPO7OZGMKLKIIMKVICOUDRCERI454I3DB2BH52HGLSO67W754 :

   conducted 124084811 transactions and paid 124084.86 Algo on Fees.

2. C7RYOGEWDT7HZM3HKPSMU7QGWTRWR3EPOQTJ2OHXGYLARD3X62DNWELS34 :

   conducted 37318296 transactions and paid 37318.3 Algo on Fees.

3. XFYAYSEGQIY2J3DCGGXCPXY5FGHSVKM3V4WCNYCLKDLHB7RYDBU233QB5M :

   conducted 19981136 transactions and paid 20002.5 Algo on Fees.

4. AACCDJTFPQR5UQJZ337NFR56CC44T776EWBGVJG5NY2QFTQWBWTALTEN4A :

   conducted 2107255 transactions and paid 2384.54 Algo on Fees.

5. 4ZK3UPFRJ643ETWSWZ4YJXH3LQTL2FUEI6CIT7HEOVZL6JOECVRMPP34CY :

   conducted 1940213 transactions and paid 1940.21 Algo on Fees.

more details are here:

Conclusion

according to the analysis date range:

• Algorand users have spent 410K on transactions in total.
• The accumulated Fees changes are almost constant.
• ZW3ISEHZUHPO7OZGMKLKIIMKVICOUDRCERI454I3DB2BH52HGLSO67W754 , C7RYOGEWDT7HZM3HKPSMU7QGWTRWR3EPOQTJ2OHXGYLARD3X62DNWELS34 , XFYAYSEGQIY2J3DCGGXCPXY5FGHSVKM3V4WCNYCLKDLHB7RYDBU233QB5M , AACCDJTFPQR5UQJZ337NFR56CC44T776EWBGVJG5NY2QFTQWBWTALTEN4A , 4ZK3UPFRJ643ETWSWZ4YJXH3LQTL2FUEI6CIT7HEOVZL6JOECVRMPP34CY are 5 top wallets that have conducted the most transactions and spent the most on fees.