Bounty Question: Count and plot the number of daily transactions and unique addresses on Polygon, beginning July 1, 2022

Source

Introduction

Polygon network is considered one of the first and most successful solutions of the second layer of Ethereum. The Polygon network was called Matic before the name change, and its purpose is to increase the scalability of the Ethereum network. Polygon network architecture consists of 4 layers: Ethereum, security layer, Polygon networks layer and execution layer. In the Ethereum layer, a set of smart contracts are implemented that enable communication between Polygon and Ethereum. In the security layer, transaction validation and communication with Ethereum is guaranteed to remain secure. The layer of Polygon networks are ecosystems built on the platform of this network, and each of them has its own associations and is responsible for handling local consensus and block production. The last layer or the execution layer is the part that is used to implement the Ethereum Virtual Machine (EVM) on Polygon and to execute smart contracts.

Methodology

The following methods are used in this dashboard:

> In this dashboard, two main parameters were evaluated in July: > ==Transactions > Unique addresses

• The following table was used to check these parameters: polygon.core.fact_transactions
• To check transactions more closely, parameters were evaluated:

> Total number of successful transactions > Success rate > Percentage of Addresses that have had at least One Failure Transaction > Percentage of Addresses that have had at least one successful transaction > The Number of Addresses that have NOT had a Single Successful Transaction > Number of Unique Addresses performed Failed Transactions > Number of Unique Addresses performed Succeeded Transactions > Number of Unique Addresses

Results

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• In the above three numbers, you can see the total number of transactions, the total number of successful transactions and the success rate.

  
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• 32.7m transactions in 13 days. That is, on average, more than 2.5m transactions per day.

• About 31.1m of these transactions were successful and about 1.6m were unsuccessful. These numbers have resulted in a success rate higher than 0.95 in the Polygon network.

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• The total number of daily transactions (followed by the number of successful transactions) has not experienced significant differences in these 13 days. The highest number of daily transactions was on July 5 (about 2.83m transactions), which is about 700k different from the lowest number of daily transactions (about 2.16m transactions) on July 10. This is the largest difference in the number of transactions made on two different days. (Note: July 13 was not considered in the analysis because not all transactions made on this day were included in the results.)

• The existence of a range of 700k in the number of daily transactions has caused the chart of the number of daily transactions not to experience extreme fluctuations and as it is clear in the chart, the changes have been smooth and there are sharp and sudden ups and downs here. does not have.

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• The number of successful transactions is also very similar to the graph of the total number of transactions in terms of trend, but the ratio of these two items (the number of successful transactions to the total number of transactions) creates a parameter called "Success Rate". In the continuation of this analysis, you can see the results of the success rate. The success rate of transactions in a network tells us what we can expect from that network. The closer this value is to 1, it indicates less failed transactions and usually more user satisfaction.

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• The first diagram shows the status of the total number of transactions, the number of users who registered a successful transaction, and the number of users who registered an unsuccessful transaction.
• The second graph also shows the percentage of users who had at least one successful transaction. In this graph, it can be seen that on July 5, more than 99.2% of transaction addresses performed at least one successful transaction on this day. This amount has fallen to 97.9 percent on July 11.
• On days when the percentage of users who had at least one successful transaction experienced "dramatic drops", it can be seen that the percentage of users who had a failed transaction increased significantly (July 4 and 11).
• The third graph also shows the number of users who could not register a successful transaction within a day after their attempts to make a transaction failed. As of July 11, more than 5,000 addresses have been unable or unwilling to continue trying to complete a successful transaction after their intended transaction(s) failed. The 3405 addresses mentioned above show all the addresses that attempted to make a transaction in one or more days of this 13-day period and abandoned their attempt after failure.

• The overall success rate for transactions on the Polygon network in July is 0.951, which is very good. But in the chart above, this success rate can also be seen on a daily basis.

• The daily success rate has fluctuated between 0.942 and 0.957 in these 13 days. The first one was on July 6 and the second one was on July 9. July 6 has the fourth highest number of transactions per day and July 9 has the second lowest number of transactions per day. These ranks and these percentages of success may be meaningful, but there is no reason to consider it a logical and analyzable relationship, because on the days when the highest and lowest number of daily transactions have been established, the first and last ranks of the success rate It was not for those days.

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• The graph above shows that on most days when the number of transactions has taken an upward trend, the success rate has also taken an upward trend (which seems to contradict what was mentioned in the previous section, but what is clear in these analyzes The reason is that these analyzes cannot have a high comprehensiveness to express accurate and correct results due to the small number of days examined, and therefore such discrepancies are not far from expected.)

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• The number of days when the success rate graph works completely opposite to the graph of the total number of transactions is not a small number.

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• During the evaluation, it was found that about 1.21m unique wallets have made at least one transaction.

• 1.207m wallets have made at least one successful transaction, this number of wallets is about 99.7% of all wallets that had at least one transaction on the Polygon network in July.

• 84.3k wallets also had at least one failed transaction. This number is about 7% of all wallets that have tried to make a transaction in July.

• In these 13 days, there have been 3405 wallets that have tried to make a transaction but have not been successful. This is very interesting. If we consider each wallet as one user, this number means that in these 13 days, there were 3405 people who probably did not show any action to do it again after their desired transaction failed.

Key Findings

> # Is the Polygon network still growing?

13 days is not the time to provide a clear answer to this question, especially since there are not many fluctuations in the number of transactions in this network. It seems that this network has found its main users to a large extent. However, regarding the growth of the trend network in these 13 days, it has not been possible to issue a clear verdict. It cannot be said that the network is getting smaller, nor can it be said that the network is growing. It seems that more than these two states, we can point to an approximate stable state.

> # Has the polygon network reached a plateau?

It seems that the answer to this question can be given with certainty and it can be said that no. If we define the plateau as a floor and a minimum, we cannot see any evidence to tell us that this floor has been reached. It seems that in order to reach such conditions, the minimums must occur during several consecutive days. This was not observed here and in this analysis. At least 2 million transactions per day is not something that can be called a plateau.