Introduction to Flow Blockchain

Flow (FLOW) is a high-performance blockchain specifically for creating NFTs, massive crypto games, and apps. Unlike general-purpose blockchains such as Ethereum or Solana, Flow is built to efficiently scale for potentially billions of people interacting with NFTs like in-game items.

in this dashboard we going to answer following questions:

How does Flow compare to other L1s in terms of user retention? Is a user who made a transaction previously likely to make another transaction a week or a month later? Compare and contrast this type of activity vs other L1s like Solana and Ethereum.

Methodology

I’m using respective transaction records table for each blockchain for my analysis.

Retention Metric #1 - Average Transaction Per Wallet/User

high gas fees on ethereum blockchain is key reason another L1s exist, to scale and lower the fees, thus as we can see Ethereum has lowest gas fees compared to Flow and Solana.

Solana being a general purpose chain and it’s extremely low fees with fast transaction confirmation time made it easier for DeFi users and NFT traders to stay active in this chain.

Solana Foundation’s latest efforts also made the chain more stable as i discussed it extensively in my Solana Performance Dashboard.

Retention Metric #2 - Users’ 2nd Transaction

we will analyze the number of users who made a 2nd transaction in 3 different category.

1. users who made their 2nd transaction in less than 24 hours after their first one.

2. users who made their 2nd transaction a week after their first one.

3. users who made their 2nd transaction a month after their first one.

   (Charts #2 ,#3, #4)

   compared to other timeframes more Ethereum users make another transaction more than a month after their prior one, Solana and Flow users mostly come back after a week to make another transaction.

   In conclusion Solana Blockchain has more user retention as over 150M users make transactions in a very lower timeframe.