Flipside's World Cup Kick Off: Gas Guzzlers

Welcome to Flipside's World Cup of Bounties. To celebrate the arrival of the FIFA World Cup, we'll be holding a tournament to determine the top bounty hunters in the world across several blockchains, projects, and more. This year's theme is cross-chain comparisons. To qualify for this tournament, create a gas tracking dashboard that looks at gas usage by a chain over the last couple of months. Include Ethereum, Solana, Algorand, Flow, NEAR, Optimism and Osmosis, and add any other chain you think is worth noting. Breakout the following metrics by a chain in the dashboard Total amount USD of gas spent on the chain in the last 30 days. Average cost of gas in USD per $1,000,000 of liquidity transferred on each chain 30 days Average block gas price hourly and daily The top 10 addresses on each chain that spend the most on gas in the past month Daily amount spent on gas by chain tracked over the last 30 days Chart gas spend to network token price

What is Gas Fee?

The gas fee is a blockchain transaction fee, paid to network validators for their services to the blockchain. Without the fees, there would be no incentive for anyone to stake (PoS Networks) or mine (PoW Networks) and help secure the network.

A transaction fee is paid when a certain amount of cryptocurrency is transferred from one wallet to another. Transaction fees are flexible in nature and can vary based on how busy the blockchain is. A user who wants to expedite a transaction can choose to do so by paying a higher transaction fee.

Methodology

In this dashboard, We are going to track gas generation on different networks: Ethereum, Solana, Algorand, FLOW and NEAR. Unfortunately i ran out of time and i couldn’t include more projects/blockchains to this dashboard , but i will try more at the next round ! .

The main focus of this dashboard will be answering these questions :

Total amount USD of gas spent on the chain in the last 30 days.
Average cost of gas in USD per $1,000,000 of liquidity transferred on each chain 30 days
Average block gas price hourly and daily
The top 10 addresses on each chain that spend the most on gas in the past month
Daily amount spent on gas by chain tracked over the last 30 days
Chart gas spend to network token price

Breakdown by Chain

Ethereum

Solana

Algorand

FLOW

NEAR

Special thanks to

For creating and completing this dashboard i used flipsidecrypto and app.flipsidecrypto websites .

Most of the parts done by myself and i get helped in some queries from elite members such as ==alik110== , ==cristinatinto== , ==Yousefi_1994== and ==Sbhn_NP== .

Conclusion

With comparing Ethereum, Solana, Algorand, FLOW and NEAR chains:
Ethereum is by far generating the highest gas fees by its transactions and the average transactions' gas fee on this chain is also more than other chains.
FLOW has by far the least generated fee on its transactions considering that many of Fees on Flow blockchain are subsidized by wallets such as Blocto.
Algorand and Osmosis (2nd and 3rd blockchains with least generated fees after FLOW) have most close compete to each other in terms of generating fee.
Almost all transactions on the Flow blockchain generated less than $0.0001 fee.
The majority of transactions on NEAR blockchain generate 0.001 - 0.01 USD fee.
on Ethereum, we can see the highest share of transactions with more than $5 while the majority of transactions generated 0.1 - $1 fees on this chain.
The wallet address 0x6887246668a3b87f54deb3b94ba47a6f63f32985 (Optimism Sequencer) from Ethereum chain has generated the most gas fees during the past 30 days among all compared chains.
The generated gas fee per 1,000,000 USD transfered liquidity on Ethereum (approximately $928) is way more than all other chains while the Solana chain has the least generated fee per this transfer volume (almost $0.5 !)

Twitter tweet for this dashboard :

On the above data we can see some metrics about the generated fees on Ethereum chain and also its gas generation over time. As we see, the highest fees were generated on 8th November and mainly because of market price crash due to the FTX & Alameda collapse.

The average daily generated fee on this chain is 3.78M USD and the average generated gas fee per Block is 531 which are higher than all other chains.

FTX & Alameda collapse have caused the generation fees to get increased by almost 4x times compared to the previous days.

Moreover, we can see an inverse ratio of ETH price and generated during the collapse timespan and this shows the ETH price was dropping so high because of the market crash and on the other hand, there was increasing activity and volatiles on the chain !

And based on the top chart, as mentioned above the wallet address

0x6887246668a3b87f54deb3b94ba47a6f63f32985 which belongs to the Optimism Sequencer has by far generated the highest fee on USD 944k during the past month.

We can also see some labeled and also non-labeled addresses on the top 10 list.

And based on the left data and the methodology that I have mentioned above, the average USD generated gas fee per $1,000,000 liquidity transfer on Ethereum is $919!

On the above data, we can see some metrics about the generated fees on the Solana chain and also its gas generation over time. As we see on this chain too, the highest fees were generated on 8th November and mainly because of the market price crash due to the FTX & Alameda collapse.

The average daily generated fee on this chain is 6390 USD and the average generated gas fee per Block is 0.0381 which is way lower than the Ethereum chain.

On this chain too, FTX & Alameda's collapse has caused the generation fees to get increased by almost 5x times compared to the previous days.

Moreover, we can see an inverse ratio of SOL price and generated fee during the collapse timespan and this shows the SOL price was dropping so high because of the market crash and on the other hand, there was increasing activity and volatiles on the chain ! But again after 12th November, we can see a positive correlation between the token’s price and generated fee.

The user address Fsb16JMXAWLML5PTLKVh5Lg1xviVB6ah5p7YYcJEw3g2 has generated the highest gas fee on Solana with more than 514 SOL and 9.8k usd worth of gas spend .

and user EDMGEpKKGKS7nxpu1gjLmuHHWAmvLNy3BZWDxNC3nhAt has generated the highest gas fee on Solana base on USD with more than 10k and 512 SOL worth of gas spend .

And based on the left data and the methodology that I have mentioned above, the average USD generated gas fee per $1,000,000 liquidity transfer on Solana is $0.521 which is way lower than Ethereum !

On the above data, we can see some metrics about the generated fees on the Algorand chain and also its gas generation over time. As we see the highest generated fee has occurred on 25th October even more than 8th November (the collapse day that had the most generated fee on previous chains)

The average daily generated fee on this chain is 487 USD and the average generated gas fee per Block is 0.02108 which is slightly lower than Solana.

Moreover, despite Solana and ethereum, we do not see high inverse ratio of ALGO price vs generated fee on this chain during the FTX & Alameda collapse.

The wallet address ZW3ISEHZUHPO7OZGMKLKIIMKVICOUDRCERI454I3DB2BH52HGLSO67W754 has by generated the highest fee on the Algorand blockchain during the past month with 9635 generated ALGOs and 3.2k USD worth of gas spend.

And based on the left data and the methodology that I have mentioned above, the average USD generated gas fee per $1,000,000 liquidity transfer on Algorand is 6.74 which is higher than Solana.

On the above data, we can see some metrics about the generated fees on the FLOW chain and also its gas generation over time. As we see on this chain too, the highest fees were generated on 8th November and mainly because of the market price crash due to the FTX & Alameda collapse.

The average daily generated fee on this chain is 22.8 USD and the average generated gas fee per Block is 0.000386 which is way way too low compared to the other chains !

On this chain too, FTX & Alameda's collapse has caused the generation fees to get increased by almost 2x times compared to the previous days.

Moreover, we can see an inverse ratio of FLOW price and generated fee during the collapse timespan and this shows the FLOW price was dropping so high because of the market crash and on the other hand, there was increasing activity and volatiles on the chain ! But again after 12th November, we can see a positive correlation between the token’s price and generated fee.

The wallet address 0xecfad18ba9582d4f which belongs to the JoyRide (a blockchain-powered competitive gaming platform for casual game developers and players on Flow. ) has generated the highest fee on FLOW during the past month, This wallet address subsidize its proposers fees on the chain

And based on the left data, the approximate generated fee per 1,000,000 transfered liquidity on FLOW is 2.572$ which is too low but still more thana Solana chain.

On the above data, we can see some metrics about the generated fees on the NEAR chain and also its gas generation over time. As we see on this chain too, the highest fees were generated on 9th November and mainly because of the market price crash due to the FTX & Alameda collapse.

The average daily generated fee on this chain is 2178 USD and the average generated gas fee per Block is 0.0309 which is more than FLOW and Ethereum but less than Solana.

On this chain too, FTX & Alameda's collapse has caused the generation fees to get increased by almost 1.5x times compared to the previous days.

Based on the left chart, Oracle.Sweat has by far generated the highest fee on the NEAR chain during the past 30 days (more than 10k $NEAR and more than 29.6k $USD)

And according to the left data, the generated gas fee per $1,000,000 transfered liquidity on the NEAR protocol is 87.6$