Try Quests to earn cryptoEVM - 4. The “Flippening” Comparison
WHAT IS EVM?
Forming the core of the blockchain's architecture, the EVM is the program that executes its application code or smart contracts, as they are called, providing a run-time environment for them that runs on top of the Ethereum network.
Earned value management (EVM) is a standardized method used by project managers to track and predict progress and performance. It came into being in the 1960s within the U.S. Department of Defense as a way to manage defense programs and has since become an integral part of project management across a wide range of industries.
QUESTION \n It finally happened. The great Flip everyone’s been waiting for — Optimism and Arbitrum have officially surpassed Ethereum in combined transaction volume. (What, you were expecting some other flippening?)
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Use this historic event to compare and contrast these two major L2 chains. Include metrics such as total and average transaction volume, average transaction size, active users, new users added, and anything else you find relevant to this comparison.
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What is Optimism?
Optimism is one of the leading projects among Layer-2 scaling solutions for Ethereum. The platform, which is based on a technology called “optimistic rollups”, offers significantly lower fees and faster transactions while benefiting from the security guarantees of Ethereum (all Optimism transactions are posted to the Ethereum mainnet).
optimism.core.fact_transactions
optimism.core.fact_event_logs
arbitrum.core.fact_transactions
arbitrum.core.fact_event_logs
arbitrum.core.fact_transactions
optimism.core.fact_transactions
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What is Arbitrum?
Smart contracts have become an essential part of the blockchain technology, providing a way to automate the execution of complex agreements and transactions. However, the use of smart contracts has been limited by the scalability and performance issues of existing platforms.
Enter Arbitrum, a new smart contract platform that aims to address these challenges and enable the wider adoption of blockchain-based applications. Developed by the team at Offchain Labs, Arbitrum offers several key features that differentiate it from other smart contract platforms.
Arbitrum is a promising technology that has the potential to drive the wider adoption of blockchain-based applications. Its unique features, such as its support for multiple VMs and its use of roll-up technology, make it an attractive platform for developers looking to build complex and scalable smart contracts. With its potential to improve the security and reliability of these contracts, Arbitrum is poised to play a significant role in the future of the blockchain technology.
ACTIVE USERS
GENERAL STATS FOR OPTIMISM
GENERAL STATS FOR ARBITRUM
USER ACTIVITY
COMPARISON ON THE BASIS OF TRANSACTIONS & FEES
ANALYSIS
When we observe these stats we can see the user behaviour .
MOST TRANSACTION WAS DONE ON SAME DAY IN BOTH THE CHAINS .
IN WEEK 2,,THE TRANSACTION FALL DOWN TO 80K for Optimism & 150k for Arbitrum BEING 20% OF THE TOTAL.
672K USERS WILL STAY ON ARBITRUM & 299K WILL LEAVE THE CHAIN SIMILARLY 700K USERS WILL STAY ON OPTIMISM & 30K WILL LEAVE . OUT OF TOP PLATFORM TO INTERACT WITH NRW USERS HOP PROTOCOL IS FAVOURITE ON BOTH CHAINS FOLLOWED BY UNISWAP ON ARBITRUM & THIRDWEB ON OPTIMISM .
DAILY TRANSACTION STATS FOR 90 DAYS
NFT SALES
ANALYSIS
FOR NFT’s ARBITRUM IS A BETTER CHOICE . WHICH IS CLEAR FROM THE ABOVE GRAPHS The number and volume of sales in Arbitrum increased until the end of October and then decreased, but in optimism, there has been a continuous upward trend in the last 90 days
Another main reason for the higher volume of nft sales in Arbitrum is upcoming Arbitrum airdrop. these reason has caused for rise in nft sales Arbitrum has a larger share of the nft market than Optimism. Total no of nft sales and sales volume both are high in ARBITRUM . In terms of buyer & seller optimism is in alead position
SUCCESSRATE OF TRANSACTION
SWAPS
ANALYSIS
NUMBER OF SWAPPERS WAS CONSISTENT AT 40K .Number of swappers are very high in Optimism after new year .
The swap count & its frequency has increased in new year Initially the saps were higher for Arbitrum in November with 109k on December 22, 2022. At that time Optimism swaps count was at 90k . the graph, for both, WAS not an even ONE, it has high & lows .On December 10 swaps count was low for both the chains initially Arbitrum was at leading position but OPTIMISM HAS GAINED POSITION AFTER NEW YEAR & HAS OVERCOME ARBITRUM .IN THE PAST 90 DAYS .THE FEES & CUMULATIVE FEES FOR BOTH THE CHAINS ARE SHOOTING HIGH AS MORE NUMBER OF SWAPPERS( ESPECIALLY FOR OPTIMISM ) -HENCE MORE SWAPS WHICH IN TURN LEADS TO MORE FEES GENERATION
ANALYSIS
TOTAL NUMBER OF TRANSACTION IN LAST 90 DAYS WAS 52M FOR ARBITRUM & 37M FOR OPTIMISM .
IN TERMS OF FEES GENERATION ,ANALYSIS. ARBITRUM WAS SHOWING DOWNWARD TRENDS & THE STATS OP OPTIMISM ARE PROMISING WITH A GOOD LEAD FROM THE OTHER . Both are L2 so fees are low on them
NUMBER OF TRANSACTION & AVERAGE TRANSACTION ARE ALMOST EQUAL ON BOTH THE CHAINS WITH VERY LITTLE DIFFERENCE. GOWTH on BOTH THE CHAINS ARE VISIBLE.
Average TPS is 6.3 for Arbitrum & 5,4 for Optimism.
both the chains are successful in drawing new users on the chain which is apositive symptom for health of both the chains
CONCLUSION
Over the past 6 months, combined daily transactions of Arbitrum & Optimism have increased. These two L2s combined to flip Ethereum in daily transactions for the first time ever. on Jan 15th, Optimism hosted 689k daily transactions. This is almost equal to Arbitrum which hosted 293k daily transactions on the same day.THEY TOGETHER OUTCASTED ETHEREUM .THE NUMBER OF NEW USERS HAS BEEN CONSTANTLY INCREASING FOR BOTH THE CHAINS , NEW USERS COUNT WAS MORE ON ARBITRUM BUT AFTER MID DECEMBER OPTIMISM HAS DOMINATED ITS COMPANION ,
The daily active users of Arbitrum has increased from 20k to about 50k.On the other hand daily active users of Optimism have increased from 10k to 60k .The number of active users of these two L2s has increased remarkably in the last 6 months. these two L2s combined to flip Ethereum in daily transactions for the first time ever. on Jan 15th, Optimism hosted 689k daily transactions. This is almost equal to Arbitrum which hosted 293k daily transactions on the same day.
Arbitrum has a better TPS than Optimism and users pay less fees, That's why it has been able to have a larger share of the TVL. the number of transaction depends on speed & network cost is 2x to 5x more in L2s than in the Ethereum mainnet
TOTAL NUMBER OF TRANSACTION IN LAST 90 DAYS WAS 52M FOR ARBITRUM & 37M FOR OPTIMISM .
IN TERMS OF FEES GENERATION ,ANALYSIS. ARBITRUM WAS SHOWING DOWNWARD TRENDS & THE STATS OP OPTIMISM ARE PROMISING WITH A GOOD LEAD FROM THE OTHER . Both are L2 so fees are low on them
NUMBER OF TRANSACTION & AVERAGE TRANSACTION ARE ALMOST EQUAL ON BOTH THE CHAINS WITH VERY LITTLE DIFFERENCE. GOWTH on BOTH THE CHAINS ARE VISIBLE.
Average TPS is 6.3 for Arbitrum & 5,4 for Optimism.
both the chains are successful in drawing new users on the chain which is apositive symptom for health of both the chains.
NUMBER OF SWAPPERS WAS CONSISTENT AT 40K .Number of swappers are very high in Optimism after new year .
The swap count & its frequency has increased in new year Initially the saps were higher for Arbitrum in November with 109k on December 22, 2022. At that time Optimism swaps count was at 90k . the graph, for both, WAS not an even ONE, it has high & lows .On December 10 swaps count was low for both the chains initially Arbitrum was at leading position but OPTIMISM HAS GAINED POSITION AFTER NEW YEAR & HAS OVERCOME ARBITRUM .IN THE PAST 90 DAYS .THE FEES & CUMULATIVE FEES FOR BOTH THE CHAINS ARE SHOOTING HIGH AS MORE NUMBER OF SWAPPERS( ESPECIALLY FOR OPTIMISM ) -HENCE MORE SWAPS WHICH IN TURN LEADS TO MORE FEES GENERATION .
IN TERMS OF ACTIVE USERS & CUMULATIVE USERS WE CAN SEE SEE ARBITRUM HAS OVERCOME OPTIMISM IN NOVEMBER ,BUT AFTER LATE DECEMBER. THE SCENE HAS CHANGED CURRENTLY OPTIMISM HAS PROVED ITSELF .NUMBER OF TRANSACTION & ACTIVE USERS HAS BEEN SEEN INCREASING LATELY .
When we observe these stats we can see the user behaviour -MOST TRANSACTION WAS DONE ON SAME DAY IN BOTH THE CHAINS .
IN WEEK 2,,THE TRANSACTION FALL DOWN TO 80K for Optimism & 150k for Arbitrum BEING 20% OF THE TOTAL.
672K USERS WILL STAY ON ARBITRUM & 299K WILL LEAVE THE CHAIN SIMILARLY 700K USERS WILL STAY ON OPTIMISM & 30K WILL LEAVE . OUT OF TOP PLATFORM TO INTERACT WITH NRW USERS HOP PROTOCOL IS FAVOURITE ON BOTH CHAINS FOLLOWED BY UNISWAP ON ARBITRUM & THIRDWEB ON OPTIMISM .