Overview

Optimism is a layer 2 scaling solution that uses Optimistic Rollups to process a large number of transactions outside the Ethereum blockchain. The project claims it can trade smart contracts five to 500 times cheaper than Ethereum layer 1. It speeds up Ethereum transactions and reduces their costs by settling them on another blockchain using advanced data compression techniques.

As Optimism, there are other L2 platforms that are competitors such as Arbitrum or Polygon. The idea of this dashboard is to compare Optimism metrics against these other platforms ot see its performance in comparison the rest and to see what users are using more.

The intention of this dashboard is to be creative and show what Flipside database can bring to the analytics and at the same time, trying to find some important OPtimistic insights.

Then, after a deep exploration of the database, I am gonna show you the best analytics extracted from that. In principle, the metrics I have extracted from the database have been the following and have been calculated by the past 30 days:

• Daily Optimism transactions per second (TPS)

• Daily Optimism transactions per block (TPB)

• Comparison of TPS between chains

• Comparison of TPB between chains

• Daily average fee per transaction on Optimism

• Comparison of daily average fee per transaction by chains

• Average time per block on Optimism

• Comparison of the average time between blocks by chains

• Comparison of swaps and swappers evolution by chains

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Results

In terms of TPS and TPB, it seems like in Optimism network both show similar steady trends. Both remained constant during the past three months.

Comparing the TPS between chains, it can be seen a big difference between Polygon and the rest of the chains, being Polygon the leader in numbers with numbers over 30 TPS, while the second one Avalanche having lower tha 3 TPS. Optimism numbers are lower than 1 right now.

On the other hand, the TPB on Optimism are similar on Arbitrum but are far from Polygon.

Conclusions and key insights

In this dashboard we have analyzed different metrics of Polygon in terms of transactions and fees, as well as network blocks. The analysis also provides comparisons against different top chains like Avalanche, Arbitrum, Optimism and BSC.

The key insights extracted from the study have been the following:

• Polygon is the L2 leader. Optimism has been the last in the queue since the beginning. However, the evolution is positive and is reaching the Arbitrum and Avalanche numbers, which is a good sign.
• Optimism surpassed Avalanche in terms of transactions, a good sign for the network.
• Looking at the fail rate, we can see that it was one of the highest chains in that terms during the first days, but the situation has changed and now has only Polygon better than then in this aspect, which is positive.
• The average transaction fee is similar to the Polygon network, having singificantly lower fees than other chains like Arbitrum or Avalanche. Which is a good sign for Optimism.
• In the case of swappers, Optimism started being one of the worst chains, but the number has increased over the past months. During the past days, Optimism surpassed Avalanche and are reaching Arbitrum levels, just below Polygon but with a big differents yet, which is positive for the network.
• In terms of swaps the numbers decreased for Optimism. While it was the second chain during the first days, now has been surpassed by Arbitrum, which is negative for the network.

To final conclude the analysis, for all of the aforementioned situations, I am OPtimistic with Optimism network. Looking at the results, it is evolving in the major of the metrics and the network seems to be healthy.

In terms of active users, we can see how Polygon is the L2 leader. Optimism has been the last in the queue since the beginning. However, the evolution is positive and is reaching the Arbitrum and Avalanche numbers, which is a good sign.

Something similar is happening on transactions, but in this case it surpassed Avalanche. Looking at the fail rate, we can see that it was one of the highest chains in that terms during the first days, but the situation has changed and now has only Polygon better than then in this aspect.

Finally, looking at the average transaction fee, we can see how the numbers are similar to the Polygon network, having singificantly lower fees than other chains like Arbitrum or Avalanche.

Finally, looking at the swap activity, Optimism has one of the most important numbers just after the Polygon network.

In the case of swappers, Optimism started being one of the worst chains, but the number has increased over the past months. During the past days, Optimism surpassed Avalanche and are reaching Arbitrum levels, just below Polygon but with a big differents yet. On the other hand, in terms of swaps the numbers decreased for Optimism. While it was the second chain during the first days, now has been surpassed by Arbitrum.