What is Flow?

Flow is a developer-friendly blockchain built for NFT's, games, and other digital collectibles. It aims to solve the problems of congestion and high gas fees that Ethereum and other blockchains experience during highly anticipated NFT launches. The native token of the blockchain, FLOW, is used for transactions fees currently and will be needed for governance participation in the future. Flow currently has two flagship NFT projects built on the platform, CryptoKitties and NBA Top Shot.

Methodology

First, we will look at the ages of wallets on Flow. To calculate user retention on Flow, we will determine how many users who made their first Flow transaction in the second week of May 2022 made another transaction the following week and/or month. We will compare these results with the same statistics from Ethereum and Solana.

The majority of Flow wallets, over 700,000, are only 2 weeks old. A significant number of wallets are less than one week old.

While over 94,000 distinct users conducted their first transaction in the second week of May 2022, only a little over 6,000 conducted another transaction the following week and month. Interestingly, fewer users returned the following month than the following week. Only around 7% of new Flow users in the second week of May made another transaction in June.

Ethereum had slightly greater retention than Flow, with about 10% of users returning the following month. More users returned the following month than the following week.

Solana had by far the greatest retention, with about 1/3 of all users that made a transaction the second week of May returning the following month. About 30% more users returned the following month than the following week, which is a significant increase compared to both Flow and Ethereum.

Conclusion

In conclusion, Solana has by far the greatest retention when compared with both Flow and Ethereum. About 33% of Solana users returned the following month after their first transaction compared to 7% on Flow and 10% on Ethereum.