Date: 2022-12-13

This analysis is focused on FLOW Speed and compare Flow's speed to Binance Smart Chain and Avalanche.

All data is from the beginning of 2022 until now.

Quick introduction

What is the Flow Blockchain?

Flow is a fast, decentralized, and developer-friendly blockchain built by Dapper Labs to power some of the biggest brands’ NFTs and digital collectibles such as the NBA, UFC, CNN, Warner Music Group, Dr. Seuss, Ubisoft and more. Flow leverages an environmentally friendly design via Proof-of-Stake that consumes thousands of times less energy than Proof-of-Work blockchains like the current Ethereum network. The combination of eco-friendly design, scalability and the diversity of projects building on Flow is a key reason we chose to run Canes Vault on the Flow blockchain. Learn more about the Flow blockchain at onflow.org.

What is TPM?

Transactions per minute (TPM) is a measure of the number of transactions that a cryptocurrency network can process on a given minute. It is an important indicator of the scalability of a cryptocurrency network, as it measures how many transactions can be processed in a given amount of time. It is important for the network to be able to process a large number of transactions per minute, as this is necessary for high-volume trading and usage.

What is TPS?

In a very generic sense, the term transactions per second (TPS) refers to the number of atomic actions performed by certain entity per second. In a more restricted view, the term is usually used by DBMS vendor and user community to refer to the number of database transactions performed per second. Transactions per minute may be used when the transactions are more complex. Recently, the term has been used to describe the transaction rate of a cryptocurrency, such as the distributed network running the Bitcoin blockchain. The development of transaction rates capable of scaling to real-world volumes is an important area of research for cryptocurrency technology.

Methods

📝In this dashboard, I first calculated the average TPM (Tx/Minute) and TPS (Tx/Sec) in 2022 in the ==FLOW blockchain==. Then I calculated and analyzed their average based on day/month/year and displayed the changes over time on the chart.

☑️ I also got the number of successful transactions versus the number of failed FLOW transactions and displayed them over time on a daily basis.

➡️ In the next part, I compared Flow blockchain with 2 other blockchains namely AVALANCHE and Binance Smart Chain in terms of speed. My reviewed metrics are:

• Number of Successful Transactions

• TPS (Tx/Sec)

• TPM (Tx/Minute)

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➡️ Finally, I checked the Flow events and got the top 10 based on the number of ==successful== transactions and analyzed the changes of the top events on a monthly basis.

↘️ I used the following code to calculate TPM and TPS monthly:

select
    date_trunc('month', block_timestamp) as date,
    (count(distinct tx_id) / (60 * 24 * 30)) as "TPM (Tx/Minute)",
    (count(distinct tx_id) / (60 * 60 * 24 * 30)) as "TPS (Tx/Sec)"
from
    flow.core.fact_transactions
where
    block_timestamp >= '2022-01-01'
    and block_timestamp <= CURRENT_DATE - 1
    and tx_succeeded = 'TRUE'
group by
    1

🔢 Tables used in this dashboard:

> :one: flow.core.fact_transactions > > :two: avalanche.core.fact_transactions > > :three: bsc.core.fact_transactions > > :four: flow.core.fact_events

Conclusion

• By examining and analyzing the data and charts of this dashboard, we can conclude that the average number of transactions per minute in Flow is equal to 430 and per second is equal to 7.17 .
• َAlso By examining TPS and TPM over time on the Flow blockchain, we can say that we see an increasing trend in this popular and lovely blockchain, and Flow has improved well in the last 6 months and has increased the TPS and TPM averages.
• Further, by comparing other blockchains such as Binance Smart Chain and AVALANCHE with Flow in terms of speed and TPS and TPM metrics we observed that, In Binance Smart Chain, which has been a downward trend; and has only been increasing with a slight slope in the last few months. And in AVALANCHE, the situation is not interesting at all and we have seen a decrease since May. But exactly at the opposite point of Flow, it has started an increasing trend since May 2022 and has maintained it until today.
• Finally we saw that, TokensDeposited and TokensWithdrawn events are ranked first and second in terms of the number of successful transactions with about 214 million successful transactions. Also, FeesDeducted ranks third with 20.7%. Also, the PlayerTransaction and JoyrideMultiTokenInfoEvent events have also grown and performed well in recent months.

Thanks for reading!

This analysis was created on 2022–12–13 for a bounty at Flipside Crypto by Hesam to answer the following questions: #Flow - Flow is fast, but how fast? 6 months ago, we asked for a comparative analysis on blockchain speed - how has Flow increased its speed in transaction per minute since? Compare Flow and other L1 blockchains in terms of speed: identify the monthly average for transactions per minute, and how that's improved or worsened since the beginning of 2022. What types of events have raised or decreased the blockchain's performance over that time period? Are there bursts of transaction volume or interest on the chain? Compare Flow's speed to at least two other blockchains.

BONUS:

All data used are from Flipside Crypto.

Twitter:

💠TPM & TPS In ==Flow

Average ==TPS (Tx/Sec)

:bar_chart: Daily: (TPS)

:bar_chart: Weekly: (TPS)

:bar_chart: Monthly: (TPS)

Average ==TPM (Tx/Minute)

:bar_chart: Daily: (TPM)

:bar_chart: Weekly: (TPM)

:bar_chart: Monthly: (TPM)

Success vs. Unsuccess

:chart: Analyze

According to the above information, it can be said that the average number of ==transactions per minute== in Flow is equal to 430 and ==per second== is equal to 7.17:heavy_check_mark:

By examining TPS and TPM over time on the Flow blockchain, we can say that we see an increasing trend in this popular and lovely:heart: blockchain, and Flow has improved well in the last 6 months and has increased:chart_with_upwards_trend: the TPS and TPM averages.

Also, over time, the number of failed transactions in Flow has decreased, but in some days of 2022, especially when the number of transactions has increased, the rate of failed transactions has increased.

💠TPM & TPS In Flow vs. BNB vs. AVAX

Based on ==Number of Transactios

Based on ==TPS (Tx/Sec)

Based on ==TPM (Tx/Minute)

:bar_chart: Monthly: (TPS)

:bar_chart: Monthly: (TPM)

:chart: Analyze

Good! Let's compare Flow with other 2 blockchains in terms of TPS and TPM. In Binance Smart Chain, which has been a downward trend and has only been increasing with a slight slope for the last few months. In AVALANCHE, the situation is not interesting at all and we have seen a decrease since May. But exactly at the opposite point of Flow, it has started an increasing trend since May 2022 and has maintained it until today.

:top: Top 10 Events Based on Number of ==Success Transactions

:bar_chart: Monthly:

:chart: Analyze

According to the charts above, :1st_place_medal:TokensDeposited and :2nd_place_medal:TokensWithdrawn events are ranked first and second in terms of the number of successful transactions with about 214M successful transactions. Also, :3rd_place_medal:FeesDeducted ranks third with 20.7%.

==Also==, the PlayerTransaction and JoyrideMultiTokenInfoEvent events have also grown and performed well in recent months.