Q1. Count and plot the number of daily transactions and unique addresses on Polygon, beginning July 1, 2022.

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In your estimation, discuss whether Polygon is still growing, has reached a plateau, etc.

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Method

For this dashboard First, I used polygon.core.fact_transactions for Counting Distinct Wallets and Total Transactions on different days from July 1 to July 12, 2022, then by using flipside_prod_db.polygon.transactions extract this information for the same period for 2021 and had a comparison between them to see if the polygon is still growing or not.

In the end, I used ethereum.core.fact_transactions to have a comparison between these two networks in terms of distinct wallets and transactions over these 2 periods of time.

If we look at the number of separate wallets that are active daily on the Polygon network in two specific periods in 2021 and 2022. It can be seen that after one year, the individual wallets of this network have quadrupled on average, which shows the growth of this network among users. This comparison is made between the same days of two different years.

By comparing the total number of daily transactions in this network between 2021 and 2022, it can be seen that this number approximately has become a third in 2022!!

Considering the almost double growth of the number of distinct wallets compared to last year, this decrease is significant.

To clarify the reason for this reduction, a comparison was made between the average cost of each transaction in two years, which is shown below.

First, the total cost of daily transactions in two different years was calculated and given, and then by dividing this number by the total number of daily transactions, the average cost of each transaction was given on different days.

As can be seen, the average transaction cost in 2021 for each transaction was about 0.002 Matic and this value is about 0.02 Matic for 2022. On average, the price of Matic in these two periods is almost equal and it is clear that the cost of Each transaction in this network has increased about 10 times for users. This increase in the transaction cost, as well as the market conditions, can be two important reasons for the decrease in the number of transactions compared to last year.

By comparing the number of separate wallets between Polygon and Ethereum networks in July this year and last year, the growth of Polygon network users can be clearly seen.

While in 2021, the ratio of separate wallets of the Polygon network on different days to the Ethereum network is almost a quarter. This ratio has reached about two thirds in July 2022.

By comparing the total number of transactions of the polygon and Ethereum networks in July 2022, it can be seen that the number of daily transactions of the polygon network is twice the number of transactions of the Ethereum network. This shows that users prefer to use this network more than Ethereum because of the low transaction fee in the polygon network.

Due to the higher number of daily transactions in 2021(For the reason mentioned above), the ratio of the number of daily transactions of the Polygon network to the Ethereum network in this period last year was higher than this year. The number of Ethereum network transactions has not changed significantly in these two intervals.