What is the Question?🚨

Flow is fast, but how fast?

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.

• What types of events have raised or decreased the blockchain's performance over that time period?
• Are there bursts of transaction volume or interest on the chain? Compare Flow's speed to at least two other blockchains.

Analyzed Topics:

1. Chains Daily & Monthly TPM and TPS
2. Chains Daily Successful and Failed Transactions
3. FLOW Transaction Volume
4. Blocks
5. FLOW Events

Introduction🚩

What is FLOW?

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.

More Info

Why FLOW is a Good Blockchain?

Flow blockchain outperforms Ethereum because it has four different types of nodes: collecting nodes, verification nodes, execution nodes, and consensus nodes.

Method⚡

In this dashboard, i analyzed FLOW performance in past 12 months since the beginning of 2022 in terms of transactions success rate, block activity and some more and compared it to 3 other L1 chains to see who is leading others. I went deep in their transaction activity like transactions per minute(TPM) and transactions per Second(TPS) and analyzed these metrics in daily and monthly situations.

I mainly extracted the data for all chains from their ==“core.fact_transactions”== database provided by Flipsidecrypto. I used ==“flow.core.ez_token_transfers”== table for FLOW transactions volume and ==“flow.core.fact_events”== for FLOW events analysis.

I analyzed all the data and compared Avalanche, Ethereum, Optimism and FLOW L1 chains to each other since January 2022.

This dashboard made on ==2022-12-12==

Findings👀

• Mostly, Ethereum performed the best between these blockchains that i compared, Avalanche, FLOW, Optimism and Ethereum. We can see that after the end of April, Avalanche successful TPM and TPS dropped and went under FLOW.
• FLOW has recorded lots of fluctuations on its stats and even performed better than Ethereum and recorded more transactions per minute and per second than ethereum especially in June and November 2022.
• In a general view to these line charts that their data is beginning from January (Start of 2021), it seems Avalanche were bearish on TPS and TPM the whole year and recently Optimism went above it.
• FLOW outperformed ethereum on so many days in past 12 months but recently it didnt perform so well in past 2 weeks.
• In monthly charts, we can see that FLOW experienced a huge spike after the beginning of June in terms of number of successful transactions, transactions per minute(TPM) and transactions per second(TPS).
• In overall, Ethereum is in the lead in terms of successful transactions per second and minute and FLOW is in the second place among these 4 blockchains that i compared.

1. Chains Daily & Monthly TPM and TPS

2. Chains Daily Successful and Failed Transactions

Findings👀

• Recently, after late October, FLOW has recorded so many failed transactions and November wasnt a good month for FLOW because it didnt performe well.
• FLOW has recorded the highest number of failed transactions between these 4 chains in past 12 months since January. Most of it happened in November. Also Avalanche is in the second place in terms of failed transactions.
• As i mentioned, November was a bad month for FLOW and we can see that its success rate dropped badly in that month and performed the worst between other chains that i compared with it.
• Ethereum and Optimism recorded the best success rate respectively since January.

4. Blocks

Findings👀

• In this section we can see the blocks stats of 3 mentioned chains to see which performed better in past 12 months.
• We can see that ethereum has recorded the most average transactions per block since January followed by FLOW in the second place but the other 3 are not even close to ethereum in this specific case.
• FLOW has recorded a massive drop on its maximum transactions per block on a daily basis after the beginning of December.
• All the chains were bearish in terms of number of daily blocks except Optimism.

5. FLOW Events

Findings👀

• FLOW monthly events saw a huge increase after the beginning of June and the highest of FLOW events happened on September 2022.
• TokensDeposited and TokensWithdrawn have the same number of events and they are accounting the same percent in FLOW top events share with 27.9% in the first place followed by FeesDeducted in the second place with accounting almost 24% of the whole share.

Conclusion💡

• FLOW chain outperformed Ethereum on several days in terms of SPEED after the beginning of June.
• FLOW didnt performe like its previous months in December so far.
• Ethereum as expected had the highest number of TPM and TPS among other 3 in 2022 because it is older and more popular than others.
• FLOW recorded so many failed transactions in past month (November). It was its all-time high compared with its previous months.
• In block activity, FLOW is in the second place after Ethereum between these 4 mentioned chains.
• The lowest FLOW success rate was on May 29th.
• TokensDeposited, TokensWithdrawn and FeesDeducted were the top 3 events in terms of number of transactions that happened on FLOW blockchain since January.

Author: Sbhn_NP

Discord : Sbhn_NP#8717

Twitter : Sbhn_np

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Thanks for your time!

3. FLOW Transaction Volume

Findings👀

• 3 first months of the year, FLOW had the highest transaction volume and after that, its volume dropped badly on April and almost got halfed.
• Once again, FLOW transaction volume recorded a huge spike on August and almost got 2.5x but after that it dropped again and went back to its normal routine.