Try Quests to earn SOLFLOW User Retention vs Other Chains
In FLOW most users are retained after 3 and 6 months and it means that the time between their transactions are about 3-6 months.and also in Ethereum users transacted after 1 year and the second most users are users who transacted between 1 week and 1 month after their first transaction
In Solana like Ethereum most users transacted after 1 year from their first transactions.But in Near most users transacted after 1 week to 1month after their fisrt transactions.and it means Near users are more retained than Solana or Flow users.
In Algorand more than 55 percent of users transacted after a year from their first transactions.In polygon also we can see that the majority of users transacted after 1 year.
So between 6 mentioned chains Near has the most retained users and Flow is almost the second one and Algorand has the least retained users between 6 chains.
Algorand has the most time lag between user transactions and requires more than 300 days for a user to do a transaction again. The retention rates of Solana, Polygon, and Near are higher than those of other chains, while users of Flow are lower. It's also intriguing that Ethereum has such a long average and median time between transactions. Perhaps this is because some Ethereum users are really active, while others are hardly ever active, and since Ethereum has the most users overall.
Ethereum has the most users between chains and also most of Ethereum users did a transactions after a year of their first transaction. and most of Flow users came back and did a transaction after about 3-6 month after their first transactions .and also the number of FLOW transactions are not much as other chains like Solana or Algorand and it is just more than Near transactions
Flow has more monthly active users than Algorand and Near but less than Ethereum, Polygon, and Solana. And it's noteworthy to note that in November 2022, FLOW's unique users significantly climbed.
Users who complete more than 10 transactions in a month are considered active users. The FLOW has position 3 among chains, and Polygon has the most active users, as can be shown. Moreover, FLOW had a significant growth in the number of active users in December 2022.
NEAR had the most transactions per user in the first six months of 2022, but that figure fell in the following month. However, FLOW had fewer transactions per user in the first half of 2022, but the average number of transactions per user significantly climbed in the last half of 2022.
Most FLOW users were returning users in the first few months of 2022, while most users in the final few months of 2022 are new users. The number of new users in Flow has significantly increased, particularly in November 2022. Additionally, the number of monthly new users on Ethereum is almost consistent.
Among the blockchains discussed, Solana nearly has the highest retention rate of users. Therefore, Solana will have the fewest new users in 2022. In NEAR, we had more maintained users in the initial months of 2022, but less users were retained in the last months of 2022.
There is a fixed amount of maintained users in Algorand each month, and Algorand has fewest retained users of all the blockchains mentioned in 2022. However, with Polygon, we consistently have a certain amount of both kept and new users each month.
The FLOW retention rate peaked in May 2022. Additionally, FLOW had a good retention rate throughout the first few months of 2022. and it indicates that our monthly users were the same. Nonetheless, FLOW's retention rate fell in the last months of 2022, which suggests there were more new users than in the first half of 2022.
NFT sales on FLOW and Ethereum have nearly identical retention rates. the majority of NFT customers on FLOW and Ethereum purchased more NFTs a year after purchasing their initial one. and the second-most consumers purchased more NFTs a week to a month following their first purchase.
Most of Near NFT buyer bought their next NFT after a year from their first NFT.and also in Solana about 28% of NFT users bought their next NFT after a year and the second most groups on solana bought their next NFT after 1 week to 1 month after their first buy.
Almost in each studied chains most users bought their next NFT after a year from their first buy.and also the second most users in all mentioned chains bought their next NFTs after 1 week to 1 momth after their first buy.
Between chains, Flow has the longest average and median days between first and second NFT purchase. Additionally, Solana's average and median days between first and second NFT purchase are the lowest. and it indicates that FLOW has the fewest maintained NFT users while Solana has the most.
Ethereum has the most NFT users and Solana is the second and FLOW is the third chain from the aspect of NFT sales.Algorand and Near NFTs are not very popular in these chains and in FLOW most users bought a new NFT after 1 week to 1 month from their first NFT.
I mid 2022 the number of NFT users on FLOW surged and most of them was retained users on FLOW and as we can see we have about 7 millions NFT users in 2022 and about 5.5 millions of them were active before interacting with NFTs on FLOW
The number of NFT users on NEAR surged in April and October 2022 and in 2022 we have about 3.5 millions NFT users on NEAR and more than 1.2 millions of them had transactions on NEAR before interacting with NFTs
less than half of NFT users on Ethereum had a transactions before interacting with NFTs and the trend of cumulative chart in Ethereum is very smooth and that show we have a constant number of NFT users on Ethereum in 2022
Most of FLOW NFT buyers are retained users and the retention rate of NFTs on FLOW is very high.almost more than other chains between mentioned chains.in Ethereum about half of NFT buyers are retained users each month and also Solana and Algrand have the same figures as Ethereum.
In Solana and Algorand about half of users buy a new NFT each month and almost half of NFT buyers in these 2 chains are new users each month.the NFTs on algorand are not very popular between users and has the least number of NFT saled between mentioned chains.
Between the four chains presented, Flow has the highest retention rate, whereas Solana virtually has the lowest retention rate. Additionally, the retention rate of FLOW grew in the last months of 2022, which indicates that almost the same consumers interact with FLOW NFT each month.
Background:
How sticky are the users on Flow?
Create a detailed analysis comparing user retention on Flow vs. other L1 chains like Ethereum and Solana. How often do users who make a transaction come back and make another transaction one month later? How do monthly active users compare between chains?
Bonus: add a section of your analysis comparing retention specifically with regard to NFT purchases. How often do users who purchase an NFT come back and make another purchase one month later?
Introduction:
Flow is a fast, decentralized, and developer-friendly blockchain, designed as the foundation for a new generation of games, apps, and the digital assets that power them. It is based on a unique, multi-role architecture, and designed to scale without sharding, allowing for massive improvements in speed and throughput while preserving a developer-friendly, ACID-compliant environment.
Flow empowers developers to build thriving crypto- and crypto-enabled businesses. Applications on Flow can keep consumers in control of their own data; create new kinds of digital assets tradable on open markets accessible from anywhere in the world; and build open economies owned by the users that help make them valuable. \n \n Smart contracts on Flow can be assembled like Lego blocks to power apps serving billions of people, from basketball fans to businesses with mission-critical requirements.
There are four pillars that make Flow unique among existing blockchains: \n
- Multi-role architecture: Flow’s design is unique, allowing the network to scale to serve billions of users without sharding or reducing decentralization of consensus.
- Resource-oriented programming: smart contracts on Flow are written in Cadence, an easier and safer programming language for crypto assets and apps.
- Developer ergonomics: from upgradeable smart contracts and built-in logging support to the Flow Emulator, this network is designed for results.
- Consumer onboarding: Flow was designed for mainstream consumers, with payment onramps catalyzing a safe and low-friction path from fiat to crypto.
In a traditional blockchain, every node stores the entire state (account balances, smart contract code, etc.) and performs all of the work associated with processing every transaction in the chain. This is analogous to having a single worker build an entire car. [1]
Method:
In this dashboard I used 6 sections for my analysis include:
1-Time difference between transactions on different blockchains
2-Monthly active users compare between chains
3-Monthly retained users in different blockchains
4-Time difference between NFT purchases on different blockchains
5-New VS retained NFT users
6-Monthly retained NFT users in different chains
and in each section I compare FLOW with other chains like:
Ethereum
Solana
Near
Algorand
Polygon
In the first section for compare retention of users in eacj blockchains I used these analysis:
1-time difference between user transactions in all 6 mentioned blockchains
2-Average and median time(days) difference between user transactions on differenct blockchains
3-Normalized Time difference between user transactions in different blockchains
4-Time difference between user transactions in different blockchains(user counts)
\n In the second section I compared monthly active users of different chains:
1-Monthly unique users of different blockchains
2-Unique users of different blockchains in 2022
3-Percentage of monthly active users to all users in 2022
4-Percentage of active users to all users in 2022
5-Monthly average number of transactions per users
6-Monthly median number of transactions per users
\n In the next section I showed Monthly retained users in all mentioned blockchains and also I mentioned Monthly retention rate (percentage) comparison between chains in 2022
In the next section I compared NFTs on different chains in 3 sections.
In Time difference between NFT purchases on different blockchains I showed :
1- time difference between NFT purchases in mentioned blockchains
2-Average and median (days) difference between NFT purchase in different chains
3-Normalized Time difference between NFT purchases in different chains
4-Time difference between NFT purchases in different chains(user counts)
And also for compare the number of retained NFT users and new NFT users I used these charts for the next section:
1-Weekly New VS retained NFT purchasers on different chains
2-Cumulative New VS retained NFT purchasers on different chains
And in the last part I showed Monthly retained NFT users in different chains and Monthly retention rate (percentage) of NFT buyers comparison between chains in 2022
1-In FLOW most users are retained after 3 and 6 months and it means that the time between their transactions are about 3-6 months.and also in Ethereum users transacted after 1 year and the second most users are users who transacted between 1 week and 1 month after their first transaction
2-Algorand has the most time lag between user transactions and requires more than 300 days for a user to do a transaction again. The retention rates of Solana, Polygon, and Near are higher than those of other chains, while users of Flow are lower. It's also intriguing that Ethereum has such a long average and median time between transactions. Perhaps this is because some Ethereum users are really active, while others are hardly ever active, and since Ethereum has the most users overall.
3-Users who complete more than 10 transactions in a month are considered active users. The FLOW has position 3 among chains, and Polygon has the most active users, as can be shown. Moreover, FLOW had a significant growth in the number of active users in December 2022.
4-The FLOW retention rate peaked in May 2022. Additionally, FLOW had a good retention rate throughout the first few months of 2022. and it indicates that our monthly users were the same. Nonetheless, FLOW's retention rate fell in the last months of 2022, which suggests there were more new users than in the first half of 2022.
5-Between chains, Flow has the longest average and median days between first and second NFT purchase. Additionally, Solana's average and median days between first and second NFT purchase are the lowest. and it indicates that FLOW has the fewest maintained NFT users while Solana has the most.
6-Between the four chains presented, Flow has the highest retention rate, whereas Solana virtually has the lowest retention rate. Additionally, the retention rate of FLOW grew in the last months of 2022, which indicates that almost the same consumers interact with FLOW NFT each month.
[1]: