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Analyze Optimism during the month of July as markets were get turbulent, showing whatever metrics you care to unearth. You can choose any topic you’d like: How did the network perform? What about market performance? Were there significant inflows or outflows on bridges? Were there any notable patterns in user behavior?
What is Optimism? How does it works ?
There are several scaling solutions for layer 2. One of them is optimism. Optimistic rollups use a technology that bundles large amounts of data into digestible chunks for easy consumption. Along with other layer 2s, such as Arbitrum, optimism is much cheaper to use than Ethereum.
Ethereum mainnet layer 2 is enhanced with an optimism chain. Whose data is published on mainnet for verification but transactions are conducted on optimism.
Optimism uses a technique called rollups, more specifically optimistic rollups.A rollup is simply a compilation of the data from several transactions into a single transaction on Ethereum mainnet (layer 1). They can be used for non-fungible token (NFT) mints, token swaps, etc.
When so many transactions are rolled up into a single transaction, the blockchain transaction, or gas fee required to pay comes down to only one transaction, conveniently distributed across everyone involved.
This technology is known as a rollup, and it relies on the principle that it is valid until it is proven false. Potentially invalid transactions can be challenged by providing a “fraud proof” and running the computations of the transactions with reference to state data during a certain time period. As a result of optimism, gas is reimbursed for running the fraud proof calculation.
Methodology:
In this Dashboard we are going to find the Optimism Network performance, specifically we are going to check the below metrics on Optimism in July 2022
- Daily Transaction Count
- Daily Number of Unique users
- Daily Average TPS(transaction per second)
- Daily success Rate
- Number of Daily swaps
- Daily Swap Volume
- Number of unique users swapped per day
- Daily NFT Sales Volume
- Number of NFT Sales Volume
Note: all the above metrics are on Optimism Network and just include July 2022
Conclusion:
- The Number of daily Transactions on Optimism was trending upward in July 2022
- we had an spike in the number of Unique users on Optimism in 27 July 2022 which it reached to more than 60,000 unique users on that day
- The Daily average TPS on Optimism was Trending Upward
- The Daily transaction success rate on Optimism didn’t has any special trend and it was almost higher than 90 it means from the 100% of transaction, more than 90% of transactions has done with success
- the Number of Daily Swaps on Optimism was also Trending Upward in July 2022
If we conclude our Results we can say that Optimism done well in July 2022 because at the metrics we checked, almost optimism network was trending upward which it shows July Month was a good month for the Optimism
