FLOW Speed (redux)

    6 months ago, we asked for a comparative analysis on blockchain speed - how has Flow increased its speed in transaction per minute since? Compare Flow and other L1 blockchains in terms of speed: identify the monthly average for transactions per minute, and how that's improved or worsened since the beginning of 2022.

    Flow is a blockchain platform that originally was designed for gaming purposes, but has expanded since its launch in 2020. The flow blockchain enables fast, low-cost transactions and supports smart contracts. It powers blockchain applications including NBA Top Shot, a non-fungible token (NFT) offering.

    NEAR Protocol is a public Proof-of-Stake (PoS) blockchain that aims to bring DeFi to the masses with low transfer fees and fast transactions. NEAR competes with Avalanche, Solana, Cardano, Algorand, the new version of Ethereum, and other PoS networks.

    Avalanche (AVAX) is a cryptocurrency and blockchain platform that rivals Ethereum. AVAX is the native token of the Avalanche blockchain, which—like Ethereum—uses smart contracts to support a variety of blockchain projects.

    The Avalanche blockchain can provide near-instant transaction finality. AVAX is used to pay transaction processing fees, secure the Avalanche network, and act as a basic unit of account among blockchains in the Avalanche network.

    Ethereum is a decentralized blockchain platform that establishes a peer-to-peer network that securely executes and verifies application code, called smart contracts. Smart contracts allow participants to transact with each other without a trusted central authority. Transaction records are immutable, verifiable, and securely distributed across the network, giving participants full ownership and visibility into transaction data. Transactions are sent from and received by user-created Ethereum accounts. A sender must sign transactions and spend Ether, Ethereum's native cryptocurrency, as a cost of processing transactions on the network.

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    Methodology

    The investigated chains →

    1. Flow

    2. Ethereum

    3. Avalanche

    4. Near

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    Items to be analyzed →

    1. Comparison of TPM, TPS in chains from the beginning of 2022
    2. Comparison of transaction volume with TPM
    3. Check the top 10 actions of users in terms of the number of transactions and TPM and TPS
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    • In examining the volume of transactions and comparing it to TMP, it seems that there is no significant relationship between the volume and the number of transactions, and it can be concluded that whales and sharks are very active in FLOW.

    10 popular actions from the beginning of 2022

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    Conclusion

    It seems that the speed of transactions in FLOW has increased compared to the beginning of 2022 and the performance of FLOW has become more optimized, and this can be concluded in comparison with other chains, and also the volume of transactions has decreased since the beginning of 2022, which I hope that this trend will change with the improvement of the market trend and FLOW has the potential of transactions with high volume and number, and also TokensDeposited and TokensWithdrawn actions have caused the increase of transactions in FLOW.

    written by :writing_hand:

    Discord ID: Sal☰h#1747

    email : saleh.mz@gmail.com

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    observations

    • In terms of TPM, the Ethereum chain ranks first with about 755 transactions per minute, and Flow ranks second with about 431 transactions per minute.

    • In terms of TPS, the Ethereum chain ranks first with about 12 transactions per second, and the Flow chain ranks second with about 7 transactions per second.

    • In daily comparison, it seems that from the beginning of January to May 2022, the number of transactions per minute and second of FLOW was low, and since June, these transactions have increased.

    observations

    • In the analysis of the top 10 actions of FLOW, it seems that ==TokensWithdrawn== has the most transactions and ==TokensDeposited== action is in the second place after that, and in the weekly analysis, after May and from the beginning of June, we see an increase in transactions, and the progress of FLOW is evident, in Examining TPS and actions, it can be said that ==TokensDeposited== and ==TokensWithdrawn== include the most transactions.