1- Introduction

1-1 What is Optimism

Optimism is a Layer 2 Optimistic Rollup network designed to utilize the strong security guarantees of Ethereum while reducing its cost and latency.

Optimistic rollups can process transactions for a much lower price than Ethereum Mainnet (also known as layer 1 or L1) because transactions are only processed by a few nodes, instead of every node on the network. At the same time, the data is all written to L1 so everything can be proved and reconstructed with all the integrity and availability guarantees of Mainnet.

To use L1 assets on Optimism (or any other L2), the assets need to be bridged. One way to achieve this is for users to lock assets (ETH and ERC-20 tokens are the most common ones) on L1 and receive equivalent assets to use on L2. Eventually, whoever ends up with them might want to bridge them back to L1. When doing this, the assets are burned on L2 and then released back to the user on L1.

The bridge has two main flows:

• Deposit (from L1 to L2)
• Withdrawal (from L2 to L1)

1-2 Aim of the present article

In this article, we want to study the state of the Optimism network. The topic that will be focused on in this article is the performance of the entire network. For this purpose, parameters such as TPS, transaction success rate, number of transactions, active wallets, and amount of inflows and outflows to Optimism will be examined. In addition, in a separate section, we will take a look at the NFT buying and selling market on Optimism. To extract these results, Ethereum and Optimism Flipside tables have been used.

Conclusion

Before concluding, let me briefly mention the topics that were focused on in the present work. In this article, the Optimism network was investigated. Criteria such as the number of active wallets, the amount of inflow/outflow, the NFT market, the number of transactions, the speed of transactions and finally the success rate of transactions were examined. Based on the previous sections of this article, the results can be announced as follows:

1-The number of wallets have deposited Eth to Optimism reached its maximum in September then decreased and increased significantly again in June. Meanwhile, the number of wallets in July has greatly decreased compared to June.

2- The success rate of transactions was above 90 percent and this rate in July is almost the same as the previous months, so it can be said that the percentage of successful transactions in July is high, which indicates the proper performance of the network.

3- The lowest amount of TPS was in the last week of June and the first two weeks of July, and the highest was in the last week of July. The lowest amount of TPS was on August 6 and the highest on July 29. The speed and number of transactions performed on the Optimism network in the last two weeks of July were higher than the rest of the days, and it showed an acceptable performance during this period.

4-The NFT market had the highest number of transactions on July 27, which indicates that the buying and selling market was booming in July. On the other hand, the largest volume of purchases in terms of Eth was on July 1st.

5- In all months, the amount of input is much higher than output. The same thing happened in July and the volume of input is more than the output. The month of July has a lower volume of inflows compared to the months before and after it, i.e. June and August.

2-Network Performance

2-1 Wallet deposited Eth to optimism through the native bridge

The first parameter is the number of unique wallets that have deposited Eth to Optimism. In the following, you can see two charts, the chart on the right shows the number of active wallets that have deposited Eth to Optimism at least once on a monthly basis. As you can see, the number of wallets reached its maximum in September and increased significantly again in June. Meanwhile, the number of wallets in July has greatly decreased compared to June.

The chart on the left also exclusively shows the number of active wallets (they have deposited Eth at least once) in the month of July. As you can see, the number of wallets increased significantly only in the last week of the month, and the activity of wallets was very low in the first three weeks of the month. In this chart, July 27 with 1521 wallets shows the highest number of wallets per day.

2-2 Success rate

The percentage of successful transactions is one of the parameters that shows the performance of a network. If the success rate of transactions is high, it indicates the health of the network. The two tables below show the success rate in July (first table) and in the last few months (second table). It is clear that the success rate of transactions was above 90 percent and this rate in July is almost the same as the previous months, so it can be said that the percentage of successful transactions in July is high, which indicates the proper performance of the network.

The next barchart shows the success rate on different days. On average, in the first two weeks of July, the success rate was over 90 percent, and in the last two weeks of July, it was below 90 percent.

2-3 Optimism TPS

The number of transactions per second (TPS) is another parameter that can be used to judge the speed of the network. The diagram below shows TPS in two different ways, i.e. for all transactions made on the Optimism network and just for successful transactions. The lowest amount of TPS was in the last week of June and the first two weeks of July, and the highest was in the last week of July. The lowest amount of TPS was on August 6 and the highest on July 29. The speed and number of transactions performed on the Optimism network in the last two weeks of July were higher than the rest of the days, and it showed an acceptable performance during this period.

3- Market performance

In this section, we will focus on the NFT buying and selling market on the Optimism network. The charts below show the volume of buying and selling of NFTs. The chart on the left is based on the number of NFT transactions, and the chart on the right shows the volume of the nft market in terms of Eth. The NFT market had the highest number of transactions on July 27, which indicates that the buying and selling market was booming in July. On the other hand, the largest volume of purchases in terms of Eth was on July 1st. Let us examine a little more closely, the next two graphs show the volume of buying and selling NFTs in the last three months. As you can see, July had the largest volume of buying and selling NFTs in terms of the number of transactions and the number of Eth. These charts show that in July, at the same time as the crypto market fluctuates, the optimism network was more active than the previous month.

4- Inflows or outflows on the native bridge

The last part is dedicated to the amount of inflows and outflows to Optimism through its native bridge. In the following, you see two charts that show the amount of input and output to Optimism. In all months, the amount of input is much higher than output. The same thing happened in July and the volume of input is more than output. The month of July has a lower volume of inflows compared to the months before and after it, i.e. June and August.

What is clear is that in July, at the beginning of the month, i.e. the first and second week, the volume of input and output is less than the last two weeks. On July 29, most of the inflows to Optimism happened in July.

The charts below show the number of NFT buyers and sellers on the Optimism network. According to this chart, July has the highest number of NFT buyers and sellers in the last three months, and there is a big difference between July and June. As you can see, unlike the month of June, the number of sellers in July is more than the number of buyers, which indicates that users were more willing to sell their NFTs in July. This is despite the fact that in the previous month, June, the number of buyers was much more than sellers, and this trend can be seen in October as well. In addition, on July 27 and 28, there were the largest number of NFT sellers.