Try Quests to earn cryptoOPtimitic or Pessimistic?
optimistic or pessimistic about Optimism?
Introduction
optimism network is a layer2 solution that is created to solve the scalability problems of the Ethereum network. The Optimism Network uses optimistic solutions (Optimistic Roll-up) to increase scalability. In this solution, optimism network by collecting and executing transactions on its network and sending them in a compact manner and in the form of a transaction to the Ethereum network, causes the scalability, speed of transactions and their Fee to be significantly reduced.
Method
First, to understand how Optimism works against the rest of the layers 2, I put Arbitrum's data next to Optimism in the necessary sections.
Transactions are the core activity of a blockchain, so we put daily information on the number of transactions, transaction fees, and the % of failed transactions. To see the relative activity of users in a blockchain, we put the number of active addresses and the number of new daily addresses.
The number of contracts shows us the activity of programmers, so we also put the daily number of deployed contracts.
We also chose to examine the world of NFTs along with the information of Bridge to Optimism to make our vision more complete regarding the activity in this network.
In the end, we examined an important platform in Optimism, which is velodrome, and the performance of this platform can give us an additional insight into Optimism.
in all analyzes that changes over time I included just the last 3 months.
our insight will be base on daily time frame.
Our approach in this dashboard is based on questions and answers, so please read each section carefully, and if a question is not answered in that section, the answer is probably mentioned below on other sections, so please read to the end of the dashboard.
I chose Stratus marketplace for arbitrum to collect NFTs data
Conclusion
If I have to answer the main question of this bounty in one word, it is: none Optimism did not perform very well in many parameters, such as the percentage of failed transactions and the number of transactions and addresses. Or the low volume of bridges to optimism in the last days and the low volume of swaps in Velodrome
These are all criteria that Optimism could not show an acceptable performance compared to itself or in some cases compared to its competitor, Arbitrum. Although it has performed well in some parameters such as contracts or locked Value in Velodrome or the NFT world, but this performance is not enough to be optimistic at this time.
Picture source: Link
Answer
When we compare the number of optimism transactions after Sep 17th with the number of daily transactions before this date, we can well see a jump in the number, so that after this date, unlike in the past, most days have more than 200K transactions and even 300K in some days.
But when we compare with Arbitrum, this question comes to mind that maybe it didn't work that well because the number of transactions in Arbitrum is clearly higher, of course, incentives like Odysseus in Arbitrum can be the reason for such high transactions, which is what Optimism is looking for with quests.
When we look at the daily number of active users, we can see that Optimism, unlike the number of transactions, showed a good performance compared to Arbitrum, so that after Sep 17th, on most days, the number of users is higher than 20K, and in some cases We have reached almost 60K, something that happened only once before this date on July 27th with 63K thousand.
Of course, it has not yet been able to completely surpass its competitor
Answer
Velodrome, as one of the most important platforms of Optimism, plays an essential role in it, so that the good performance of Velodrome is the good performance of the entire network.
The daily swap volume started its downward trend from July 29th and until now this downward trend continues so that the daily volume in the last days is below 10 million, which is a relatively small number.
The amount of money that is locked in this platform started a downward trend from the beginning of August, but this downward trend ended in early October, and we even see a good upward trend. So we can conclude that in recent days, users have become interested in locking their assets on this platform
- Is network activity increasing or decreasing over Time compared to Arbitrum? What about active addresses?
- Has Optimism been successful in attracting new users?
Answer
The number of new addresses is one of the important indicators of a network, when we look at the statistics of Optimism in this section, we see that on many days the number of new addresses is below 5K addresses, of course, on some days like July 27th, we see the number that are very high, close to 29K addresses,
on the other hand We have Arbitrum, which shows better statistics, so that many days we see number higher than 10K.
so with all that has optimism worked well? Not at the moment, as we said before, users need more incentives to be attracted
Answer
Well, to complete the necessary information for the final answer to the bounty question, we also need bridge data, that's why we put this here. It can be clearly seen that the daily volume of Ethereum to optimism bridge has decreased so that this month we do not see a volume higher than 20M dollars. In the daily number of bridgers, the situation is different, we see a high number of users from the end of September to the beginning of October, the highest was on September 24 with nearly 2K users.
By looking at the cumulative volume chart, we can see that due to the fact that the upward slope of the lines is still maintained to some extent, it can be said that the inflow of money from the Ethereum side is still continuing.
- What is the state of the NFT world in Optimism? Are we witnessing an increase in activity? What do you think about the volume and number of transactions? What is the situation compared to Arbitrum?
Answer
The percentage of failed transactions in Optimism is usually below 10%, although in some days it reaches above 10% and even close to 15%, or even in some of the last days, it has reached below 5%.
did this number are good enough?
If we want to give an answer to this, we need to compare it with Arbitrum, and when we do this, we fully understand that the percentage of failed transactions in Optimism is higher on almost all days, and this is considered a negative point for the network.
- What percentage of transactions fail? ? how is t compare to Arbitrum?
- How many contracts are made per day? Is this number increasing or decreasing on a daily basis?
- Is the transaction fee in Optimism lower than its competitor? How much ETH saved?
Answer
Although the number of transactions of Optimism is less compared to its competitor, the daily transaction fee is almost at the same level as Arbitrum or even higher at some days, so we can conclude that the transaction fees are higher in Optimism.
And if we look at the matter from another side, as you can see in the fee saved chart, optimism has saved fewer ethers.
So maybe it can be concluded that in this part, which is not an unimportant issue, it did not work very well
Answer
So, is it time to check another indicator. In this index, we check the daily deployed contracts, we can clearly see the superiority of Optimism over arbitrum, and in the last days we saw many new contracts in it, for example, on Oct 12th, we had almost 8K new contracts, which is a stunning improvement compare to the rest of the days. Is this a sign of great enthusiasm of programmers and projects towards Optimism? Yes, it is clearly the same, so we can say that optimism shows good results in this part
- What do you think about the bridging stats from Ethereum to Optimism? Did users lose interest in bridging? Is the bridging volume in an increasing or decreasing trend?
Answer
These days, the world of NFT has become a main and important part of every blockchain, so in order to know the state of the network, we need to examine it. on September 21, we see a high volume in NFT Sales, so that the volume went above 600K USD, but after that day, the volume dropped sharply, and we could not even see a daily Sales volume higher than 100K USD. But is the situation bad compared to competitors? I have to say no, because considering the volume of arbitrum, it can be said with confidence that the world of NFT is wider and more developed in optimism.
In the daily number of Sales and buyers, we have a movement similar to the volume, so that after a sudden increase on Sep 21st, we see a decrease. And in both cases, we see that Optimism has better results than Arbitrum
- velodrome: Is this platform growing or has it stopped growing? What is the status of the volume of swaps or the entry of money into this platform?
