number of daily transactions of Solana chain is much more than other chains and this issue is one of the best positive points of Solana for more efficiency than other chains

In the chart of daily transactions, you can see that with passage of time, from 3 months ago until now, number of daily transactions of Solana is gradually decreasing.

But still, its difference with the others is very large

In general, in the last 3 months, users have made 3B transactions on Solana, which includes 92% of total transactions of these 4 chains.

number of Ethereum and Algorand transactions is almost the same, and there are 98.3M transactions on Ethereum and 105.2M transactions on Algorand.

Also, number of Near network transactions has been 47.5M transactions so far

In terms of number of daily active users, you can see that, except Algorand, number of daily users is decreasing every day in rest of the chains, and users are less active and present on chains in recent days than 3 months ago.

This can also be due to decrease in prices of entire crypto market

Here, however, number of unique users of Ethereum is more than the rest of the chains

In the last 3 months, ==14.2M unique users== have been active on Ethereum chain, after Ethereum, Solana chain is second by a large margin

total number of Solana users in the last 3 months is ==3.1M unique users==, number of Algorand users is ==2.7M== and Near users are ==2.2M users==

==63 percent== of total users of these 4 networks are for Ethereum

In chart of the number of daily transactions of each wallet, you can see that Solana is growing faster than other chains. This means that average number of transactions per Solana user is increasing day by day

In general, average number of transactions per user on Solana is ==964 transactions==, and difference with other chains is very large.

After Solana, Algorand users have highest average transaction per user and its number is ==38 transactions==

number of transactions per user for Near is ==21 transactions== in last 3 months

And finally, there are Ethereum users who recorded least number of transactions per user, that is ==6.8 transactions==

This means that Ethereum has many users, but these users are less active than users of other chains

Users of Chains

Transactions of Chains

Ethereum Performance Comparison with Other Layer 1 Chains

We want to see how Ethereum efficiency and popularity compared to other chains have been in recent months by comparing many verifiable metrics with the tables on Flipside. Is Ethereum chain actually more popular than other Layer 1 chains or not?

Which chain is more efficient? Stay with us until end of this dashboard to answer this question

Method

In this dashboard, we want to compare and check the performance and popularity of the Ethereum chain with other chains such as Algorand, Solana and Near.

For this, we have calculated the following metrics for each chains and compared Ethereum network with other chains in terms of following metrics:

Solana has lowest fee compared to other investigated chains

And Ethereum has the highest transaction fees

This issue is another positive point for popularity and efficiency of Solana chain compared to other chains

In the last 3 months on average, transaction fee on Solana was ==0.00018 USD==, After Solana Algorand, it has lowest transaction fee, which is ==0.00037 USD== per transaction

Then Near is in third place and earns ==0.0045 USD== fee for each transaction

And most expensive transactions are for Ethereum, which earned an average of ==2.69 USD== per transaction

After November 10, Solana has reduced transaction fees significantly

Both Near and Algorand have been reducing fees every day for the past 3 months, but Ethereum is more stable

total fee earned from Ethereum transactions so far is ==265.3M USD==, far and away from Solana.

Solana users have paid ==574K USD== to network in the last 3 months

Next is Near with a total of ==217K USD== and finally Algorand collected the lowest fee, ==39K USD==

Transactions Fee of Chains

Success Rate of Chains

One of strengths of Ethereum is stability of the network, Here you can see that the success rate of transactions is more than ==96%==

In Algorand tables, I did not find a column to record the success or failed of Algorand transactions

And here we leave Solana's network review, You see Solana performing worse than other chains in terms of transaction success rate

In general, average success rate of transactions on Solana is almost ==76%==

On November 9, you can see that the success rate has reached less than 50% and by registering a success rate of ==42%==, it has performed the worst on this day

As of November 12, there have been ==21M failed transactions== on Solana that have encountered errors

This is Solana's Achilles heel

Swaps on Chains

Like number of transactions, the number of swaps on Solana is more popular than on other chains

In November, swaps on Solana is much more than before and in some days it has reached nearly 600K swaps per day.

In general, number of swaps on Solana in last 3 months was 16M swaps, and Ethereum is in second place with 10.7M swaps.

Algorand with 1.5M swaps and Near with 350K swaps are in the next positions

More than 55% of swaps belong to Solana chain

The number of swappers is also much higher on Solana

In general, there were 266K swappers on Solana , and 36.7K users on Ethereum.

Also, in last 3 months, 26.7K users have swapped on Algorand and 12.6K users on Near

More than 77% of swappers belong to Solana chain

NFTs on Chains

In NFT market, main competition is between Solana and Ethereum

In early days of daily transaction chart, you can see that number of NFT sales on Solana was much higher than others

But over time, number of sales has become less and less, and in recent days, number of sales of Solana and Ethereum has almost become the same.

total number of sales on Solana was ==4.8M sales==, and this figure for Ethereum is ==3.5M transactions==

But the number of unique users on Ethereum is more and it is in first place with ==441K== NFT buyers

After that, Solana is in second place and ==397K users== have bought NFT on Solana

number of sales and number of buyers on Solana is ==55%== of the total

But in terms of USD sales volume of NFTs, Ethereum has much more sales

total sales volume of NFT in last 3 months on Ethereum was 2.27B USD and sales volume on Solana is also 322M

Algorand has sale volume is 3.8M USD in last 3 months

daily sales volume in all chains is decreasing every day

average selling price of NFT on Ethereum is 434 USD and average sale price on Solana is 66 USD, This number is about 32 USD for Algorand

like NFT sales on Near haven't started yet

Conclusion

Ethereum has more users than other chains and this issue can prove that the Ethereum chain is more popular than other chains

most important advantage of Ethereum is stability of success rate on most days

But unlike Ethereum, success rate of transactions on Solana is very low and this issue can affect popularity of Solana

Due to low transaction fees on Solana and higher number of transactions that Solana chain can handle, users have shown more favor to Solana.

number of swaps in Solana is more than Ethereum and Solana users are much more active than users of other chains.

Also, NFT sales boom is higher on Solana, but has fewer buyers than Ethereum chain.

Finally, by examining these 4 chains, we can understand that there is a close competition between Solana chain and Ethereum

But it can be said that popularity of Ethereum is slightly higher than other chains and after Merge update and reduction of Ethereum transaction fees, more users are active on Ethereum than other chains.

Findings

• On September 12, price of Ethereum token has dropped a lot, but Solana managed to maintain its price on this date, but on November 6, all tokens have dropped in price.
• average price of Solana native token in the last 3 months was 27.7 USD Also, average price of Ethereum was $1371, average price of Algorand was 0.31 USD, and average price of Near was $3.1.
• As it is clear, number of daily transactions of Solana chain is much more than other chains and this issue is one of the best positive points of Solana for more efficiency than other chains
• In the chart of daily transactions, you can see that with passage of time, from 3 months ago until now, number of daily transactions of Solana is gradually decreasing.
• But still, its difference with the others is very large
• In general, in the last 3 months, users have made 3B transactions on Solana, which includes 92% of total transactions of these 4 chains.
• number of Ethereum and Algorand transactions is almost the same, and there are 98.3M transactions on Ethereum and 105.2M transactions on Algorand.
• Also, number of Near network transactions has been 47.5M transactions so far
• In terms of number of daily active users, you can see that, except Algorand, number of daily users is decreasing every day in rest of the chains, and users are less active and present on chains in recent days than 3 months ago.
• This can also be due to decrease in prices of entire crypto market
• Here, however, number of unique users of Ethereum is more than the rest of the chains
• In the last 3 months, 14.2M unique users have been active on Ethereum chain, after Ethereum, Solana chain is second by a large margin
• total number of Solana users in the last 3 months is 3.1M unique users, number of Algorand users is 2.7M and Near users are 2.2M users
• 63 percent of total users of these 4 networks are for Ethereum
• In chart of the number of daily transactions of each wallet, you can see that Solana is growing faster than other chains. This means that average number of transactions per Solana user is increasing day by day
• In general, average number of transactions per user on Solana is 964 transactions, and difference with other chains is very large.
• After Solana, Algorand users have highest average transaction per user and its number is 38 transactions
• number of transactions per user for Near is 21 transactions in last 3 months
• And finally, there are Ethereum users who recorded least number of transactions per user, that is 6.8 transactions
• This means that Ethereum has many users, but these users are less active than users of other chains
• Solana has lowest fee compared to other investigated chains
• And Ethereum has the highest transaction fees
• This issue is another positive point for popularity and efficiency of Solana chain compared to other chains
• In the last 3 months on average, transaction fee on Solana was 0.00018 USD, After Solana Algorand, it has lowest transaction fee, which is 0.00037 USD per transaction
• Then Near is in third place and earns 0.0045 USD fee for each transaction
• And most expensive transactions are for Ethereum, which earned an average of 2.69 USD per transaction
• After November 10, Solana has reduced transaction fees significantly
• Both Near and Algorand have been reducing fees every day for the past 3 months, but Ethereum is more stable
• total fee earned from Ethereum transactions so far is 265.3M USD, far and away from Solana.
• Solana users have paid 574K USD to network in the last 3 months
• Next is Near with a total of 217K USD and finally Algorand collected the lowest fee, 39K USD
• One of strengths of Ethereum is stability of the network, Here you can see that the success rate of transactions is more than 96%
• In Algorand tables, I did not find a column to record the success or failed of Algorand transactions
• And here we leave Solana's network review, You see Solana performing worse than other chains in terms of transaction success rate
• In general, average success rate of transactions on Solana is almost 76%
• On November 9, you can see that the success rate has reached less than 50% and by registering a success rate of 42%, it has performed the worst on this day
• As of November 12, there have been 21M failed transactions on Solana that have encountered errors
• This is Solana's Achilles heel
• Like number of transactions, the number of swaps on Solana is more popular than on other chains
• In November, swaps on Solana is much more than before and in some days it has reached nearly 600K swaps per day.
• In general, number of swaps on Solana in last 3 months was 16M swaps, and Ethereum is in second place with 10.7M swaps.
• Algorand with 1.5M swaps and Near with 350K swaps are in the next positions
• More than 55% of swaps belong to Solana chain
• The number of swappers is also much higher on Solana
• In general, there were 266K swappers on Solana , and 36.7K users on Ethereum.
• Also, in last 3 months, 26.7K users have swapped on Algorand and 12.6K users on Near
• More than 77% of swappers belong to Solana chain
• In NFT market, main competition is between Solana and Ethereum
• In early days of daily transaction chart, you can see that number of NFT sales on Solana was much higher than others
• But over time, number of sales has become less and less, and in recent days, number of sales of Solana and Ethereum has almost become the same.
• total number of sales on Solana was 4.8M sales, and this figure for Ethereum is 3.5M transactions
• But the number of unique users on Ethereum is more and it is in first place with 441K NFT buyers
• After that, Solana is in second place and 397K users have bought NFT on Solana
• number of sales and number of buyers on Solana is 55% of the total
• But in terms of USD sales volume of NFTs, Ethereum has much more sales
• total sales volume of NFT in last 3 months on Ethereum was 2.27B USD and sales volume on Solana is also 322M
• Algorand has sale volume is 3.8M USD in last 3 months
• daily sales volume in all chains is decreasing every day
• average selling price of NFT on Ethereum is 434 USD and average sale price on Solana is 66 USD
• This number is about 32 USD for Algorand
• like NFT sales on Near haven't started yet

Metrics

• Transactions and Users of Each Chain
• Transactions Per Users of Chains
• Transactions Fee of Chains
• Success Rate of Chains
• Swaps on Chains
• Average Swaps of Each Chains
• NFTs on Chains