INTRODUCTION

The capacity to link and communicate with the many existing blockchains is made possible by the Crypto Bridges or Bridges, which also increase the utility and breadth of cryptocurrencies and the ecosystems created around them. A centralized or decentralized service called a bridge or bridge across chains enables token transfers between two blockchains that would otherwise be unable to interact with one another.

This is a utility that has become crucial as a result of the introduction of services like DeFi, which have propelled the crypto community to make significant advancements in the use of blockchain technology and Tokens that make life in the various blockchains capable of offering this kind of service.

As a result, blockchain bridges enable interoperability, which allows digital assets and data maintained on different blockchains to communicate with one another. The foundation of the internet is interoperability: To communicate with one another, machines worldwide use a common set of open protocols. Blockchain bridges are necessary for the blockchain ecosystem, where several unique protocols exist, to enable similar ease of sharing data and value.

Blockchain bridges assist in bridging these divisions and connecting the disparate crypto ecosystems. Tokens and data may easily be traded across blockchains that are linked to one another. Blockchain bridges provide further advantages than facilitating cross-chain transactions. Users may access new protocols on other chains thanks to them, and they make it possible for developers from other blockchain communities to work together.

For more details visit:

METHODOLOGY

This dashboard is created with various ideas in which analysis has been made from different perspectives. This dashboard also has a variety of visualizations where most of the charts will be represented as pie diagrams but it also has other graphs. Hence, Initially, the total bridging users, the transactions, as well as the volume of the bridging, are determined. Then the direction of the flow, ie the transactions between Ethereum and the optimism network is considered and charts are made to analyze their portion with the tokens involved in them too. Thus the transactions, volume as well as users are charted. Now, to have an analysis of the timely variations the chart made is also aggregated with the period and the timely analysis of the same is made and charted. Also, the OP-ETH transactions and ETH-OP transactions are charted separately. Then the average of the bridging users, volume as well as transactions are considered and charted with a timescale. Finally, the top tokens involved in the bridging are also accounted for along with the final chart of inflow and outflow so as to give a complete capsule of the inflows and the outflows. Here it goes…!

The charts here is to get info on the scale of the bridging in the Optimism and Ethereum Network. Hereby charted includes the volume of the bridging transactions, the Users as well as the bridging transactions.

The inflow and outflow are charted here and it is clear that the inflow has most of the shares in the above total while in the volume the outflow has also managed to have 30% of the total volume while in the transactions and in the bridgers, the inflow has the domination accounting more than 96% of the total.

The charts here indicate the tokens involved in transactions and their popularity among the users in bridging . It is seen that ETH has the highest among all and it is clear that ETH is the most bridged token while considering the stable coins it is seen that USDC is scoring more than the USDT and DAI stable coins in the networks.

As an info , Here begins the trend analysis with time and the chart here displays the timely analysis of the transactions with their directions and it is seen that in the very recent days an increasing trend in the bridging transactions is seen.

The distribution of the bridging volume over time is charted here and in the top the tokens involved in the transactions are also considered while in the bottom chart shows the direction.

The trend is seen the highest was on August 4 and then onwards the trend has been decreasing. While considering the very recent days, on October 27,2022, there was the hike and then it again decreased.

The users involved in the transactions with the direction is shown here and it indicates that it follows the same trend as the transactions and this directly proves that with more users come more transactions.

The chart here shows the trend in the users with their transactions as well as the volume. and it also has the trendline of the average volume per each transaction and it is seen that considering the total volume and the time and the transactions involved, the average volume has a considerable amount and it almost correlates with the users.

The timely analysis of the OP-ETH transactions and the ETH-OP transactions and it is seen that the transactions bridging ETH to OP is way higher in large magnitudes.

The timely trend of the volume is shown here and it is seen that the bridging volume of the ETH-OP transactions is very high when compared to the OP-ETH and even in recent days a huge hike could be seen.

The trend showing the different transactions over time is charted here and it is seen that the hike in the volume of the ETH-OP transactions as well as the decrease in the ETH-OP number of transactions since an year.

The total brigdes and the total users involved in bridging transactions are charted here and it can be said that even if the trend has been decreasing in an year time, there are instances where the range increased and it is seen that the same happened in the very recent days and it is also clear that the trend began to decrease again from the latest hike.

The chart indicates here the volume of the bridging transaction with their average and over here the volume is increasing and it is clear an inverse correlation where the price of the token also matters in the recent days.

The top tokens involved in the bridging transactions are charted for here and it is clear that ETH has the highest and USDC holds second. Top 10 tokens are listed here which has even tokens holding 0.1% shares.

In the recent times, the inflow and the outflow is accounted for and charted here.

The final chart here also displays the trend as a whole for the users as well as the bridging transactors.

With these charts and visualizations, it is more easy to interpret the inflows and the outflows between the Ethereum and Optimism chains.