One of Flow's main features is its speed compared to other blockchains. Blockchain performance can be measured as Transactions per minute. Measure the transactions per minute of Flow since May 9th and 'Successful transactions per minute' and create a chart showing how that metric has fluctuated during that time period.
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.
Introduction and methods
Flow blockchain is a fast, decentralised, developer-friendly PoS-based blockchain from NFT pioneer Dapper Labs that aims to provide high scalability to the next generation of Dapps without the use of complex scaling techniques such as fragmentation.
Flow applies the pipelining technique by separating the jobs of a validator node into four different roles: collection, consensus, execution and verification. For each role, a minimum participation deposit is required from each of the participating nodes. All these nodes work in parallel to perform their required actions. Each validating node still participates in the validation of each transaction, but does so only in one of the validation stages.
Over the past months, the volume and activity on Flow seems to be increased. But... it is a real competence for networks like Ethereum or Solana in terms of TPS or TPM? Let's see it in this analysis.
In this dashboard, we are gonna analyze the transactions per minute of Flow since May 9th and the successful ones. As well, we will analyze the type of events that contribute to the increase or decrease of its performance. Finally, we will compare the results wit two other major chains: Solana and Ethereum.
Results
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It is clear that the number of daily transactions on Flow fluctuates over time. It has a waves way when some days the number is higher and on the other days lower. The same occurred with the succeeded TPS.
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In terms of events affecting the performance of the network, we can see that there are three main ones: Tokens deposited, tokens withdrawn and Fees deducted. Because of each type of transactions involved these types, the number and rates are the same for all of them and then, it contributes equally to the network.
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Finally, if we compare the speed of Flow (we have compared the transactions per second) with other networks like Solana or Ethereum, we can see the big difference between Solana and the rest. While Solana started with over 300 TPS, and increased over time to more than 400 TPS. The Ethereum and Flow networks didn't pass the 20 TPS. In fact, while Ethereum TPS ranged from 10 to 20, the Flow TPS ranged from 2 to 15.
Conclusions
In this dashboard we have studied the speed of Flow blockchain and compared with Solana and Ethereum. We have extracted that there is a correlation ebtween the number of transactions and the TPM, having waiving oscilations. As well, tokens deposited, tokens withdrawn and fees deducted are the main type of events contributing to the Flow's performance. Finally, Solana shows higher numbers in terms of TPS compared to the other newtorkss. As well, Ethereum shown higher values than Flow.
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