[Flow] - Flow vs L1s

    Bounty Question: Create a dashboard comparing the following metrics between Flow, Solana, Ethereum, and Algorand. Visualize these metrics over time since May 9th: 1) Number of transactions 2) Transaction success rates 3) Number of unique wallets to make a transaction 4) Number of wallets that used the chain everyday since May 9th 5) Transaction fees How does Flow compare to these other chains and how do you think it will trend over time?

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    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. (Source)

    Methodology


    The following methods are used in this dashboard:

    • First, all transactions performed on these 4 blockchains were obtained in these 23 days.
    • Then, by dividing the number of successful transactions by the total number of transactions, the success rate of the transactions was obtained in 4 chains.
    • Next, the total number of unique wallets of these 4 blockchains was obtained.
    • Then, the number of unique wallets that used these networks on a daily basis was obtained.
    • Finally, the transaction was obtained in each of these chains. (With the same blockchain native token scale)

    Results

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    • Flow: The overall trend is upward, but there are many fluctuations in it.
    • Ethereum: The overall trend is slightly downward, and even in the last days of May you can see a steady state in the number of daily transactions.
    • Solana: An upward trend can be seen in this 23-day period in Solana, which of course is accompanied by fluctuations.
    • Algorand: This network also experienced a relatively downward trend, but at the end of May, like Ethereum, it had a neutral trend (although with more clearly fluctuations than Ethereum)
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    The above two charts contain some very interesting points:

    • The success rate of transactions in Solana has fluctuated between 43.8 to 62.2. This lower success rate than other networks, when combined with the high number of transactions in the Solana network, probably indicates that users make multiple attempts to make the transaction successful. What is clear about this network is the upward trend in the success rate of transactions on this network. From May 12 (the lowest transaction success rate with 43.8%) to the end of May, we can see a growth of about 40% in the transaction success rate.

    • The fluctuating and almost ascending trend of Algorand network with a success rate of at least 94% is a good indication of the good condition of this network in transaction processing.

    • Ethereum Blockchain Although in the early days of this 23-day period, it was ranked first in terms of transaction success, but over time, a downward trend in the success rate of this network has been created, so that on May 29, it reached its lowest level. It has reached this period (approximately 94%).

    • From May 21, a dramatic decrease can be seen in the success rate of transactions in the Flow network, so that on May 29, there is an 80% decrease in the success rate of transactions (compared to May 21)

    • The above circular graph shows the number of unique wallets that have traded on these networks during this 23-day period (both successful and unsuccessful transactions are included here). The absolute superiority of Ethereum blockchain can be clearly seen:
      1. About 2.31 times more than the number of unique wallets on Solana .
      2. About 10.56 times more than the Algorand network .
      3. About 11.27 times more than the Flow network.
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    • In the above circular chart, the number of unique wallets have been extracted, which have had successful transactions on these networks during this 23-day period. The network rankings above have not changed significantly and only a small number of wallets have been reduced from each network:

      1. Ethereum: 14352 unique wallets
      2. Solana: 33972 unique wallet
      3. Algorand: 7211 unique wallet
      4. Flow: 428 unique wallets
    • The high difference in Solana due to the success rate of transactions and the low difference in Flow due to the dramatic fall in the success rate are some of the interesting points of these numbers.

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    • In Ethereum you can see a downward trend. The highest number of unique wallets was in May 13, when 489k unique wallets were traded on Ethereum, but in less than two weeks (May 26) the lowest number of unique wallets was traded on this network. (308k)

    • In the case of Solana, we can see an upward trend, so that from May 13 (the lowest number of unique wallets) to May 30, there was a 44% increase in the number of unique wallets that traded on Solana.

    • In the case of Flow, if we do not take into account the explosive increase on May 20-24, the overall trend will be somewhat downward. Interestingly, along with the sharp decline in the success rate of transactions in the flow network, the number of unique wallets has also experienced a sharp decline. A certain number of wallets seem to have figured out the volume of failed transactions, which in itself is an interesting point that could be an interesting subject to evaluate.

    • In the case of Algorand, a 17-day downtrend (ending May 26) can also be seen, which is responding with an explosive increase in late May.

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    • In the case of Ethereum, except for May 12, when a "Gas War" appears to have taken place, a relatively downward trend can be seen on other days. In the case of Solana, there is an upward trend (with a number of fluctuations). In the case of Algorand, a downward trend can also be seen (a decrease of about 40%).